Gold World News Flash |
- International Forecaster March 2012 (#1) - Gold, Silver, Economy + More
- Gold Far From Bubble Phase
- Silver Update
- Flashback: WHY SILVER, WHY NOW?
- David Rosenberg: “The Best Currency May Be Physical Gold”
- Traders Got Robbed
- David Rosenberg: "The Best Currency May Be Physical Gold"
- Guest Post: Warren Buffett Priced In Gold
- North Korea Has Allegedly Tested Nuclear Warheads For Iran
- David Rosenberg: "The Best Currency May Be Physical Gold"
- How to Put Yourself on the Gold Standard
- Michael Pento: Gold Will Surge 20% to 30% in the Next Twelve Months
- Pento - Gold Will Surge 20% to 30% in the Next Twelve Months
- Points of Interest
- Precious Metals Special Report with Kathryn Derbes, David Morgan & John Doody
- Groundhog Day Meets the Markets
- The Pan Asia Gold Exchange will end the COMEX Monopoly
- Alf Field: Gold Likely to Retest $1,650 ? $1,685 Before Continuing Move to $4,500
- James Turk: Here?s the Real Reason the Gov?t Confiscated Gold in 1933
- Guest Post: Americans Will Need “Black Markets” To Survive
- Where is Greece’s Gold?
- Eric Sprott - What Happened in Gold & Silver is Stunning
- Harvey Organ's Gold & Silver Report
- Allan Flynn: Wednesday's intervention -- too big to spoil?
- This Past Week in Gold
- In The News Today
- Why Warren Buffett Hates Gold
- It's physical vs. paper, Embry tells Future Money Trends
- Wall Street banks, Fed face off over commodity businesses
- Alasdair Macleod: Where is Greece's gold?
| International Forecaster March 2012 (#1) - Gold, Silver, Economy + More Posted: 04 Mar 2012 03:15 AM PST There are those who believe that Greece's problems are but a precursor to what most of the world will eventually experience. We believe such predictions are correct and cannot be avoided – perhaps the last four years were just a warm up for the future. Greece, like many other countries, keeps borrowing and their revenues cannot keep up with interest service never mind principal repayments. Those in the euro zone do not have the luxury of being able to increase money and credit such as the Fed, BoJ, BoE and the ECB. They, those in the euro zone are trapped.
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| Posted: 04 Mar 2012 02:10 AM PST With more than 40 years as an economist to his credit and claiming gold as the "biggest position in my life," Gloom Boom & Doom Report Publisher Marc Faber assures us that gold is nowhere near a bubble phase, but cautions that corrections of 40% are not unusual in a bull market. At the end of March, Faber will share his secrets for surviving corrections at the World MoneyShow in Vancouver. In advance of that appearance, he sat down with The Gold Report for this exclusive interview where he discusses his bias for portfolio diversification in terms of geographies as well as asset classes.
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| Posted: 03 Mar 2012 08:00 PM PST
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| Flashback: WHY SILVER, WHY NOW? Posted: 03 Mar 2012 06:18 PM PST |
| David Rosenberg: “The Best Currency May Be Physical Gold” Posted: 03 Mar 2012 06:05 PM PST from Zero Hedge: What a no-brainer to suck at the teat and go long some very transparent and liquid debt that matures in less than three years (how can there not be a rally in global risk assets when Europe's central bank pumps a combined $1.3 trillion into the financial system? Not to mention a second bailout for Greece we were told a year ago there wouldn't be any!). This must be the safest carry trade ever, or at least that is the perception (1% LTRO loan for a 5% Italian bond or a 2% short-term note even … back up the truck!). Put up a tiny bit of capital and lever it up. It is incredible that we live in a world where the difference between going out of business as a bank and prosperity lies with cheap money being accessed from the central bank balance sheet.
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| Posted: 03 Mar 2012 06:04 PM PST The week was dominated by strong markets and stocks but the main focus was the huge gold and silver smashing which was obviously a successful attempt to take prices down. It was manipulation plain and simple.
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| David Rosenberg: "The Best Currency May Be Physical Gold" Posted: 03 Mar 2012 04:53 PM PST there are going to be repercussions from a central bank morphing from a bona fide lender of last resort to a gift-giving institution.
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| Guest Post: Warren Buffett Priced In Gold Posted: 03 Mar 2012 04:49 PM PST Can you say bubble? Or, more to the point, can you say bursting? His insights are applicable to that era. Today is a different world.
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| North Korea Has Allegedly Tested Nuclear Warheads For Iran Posted: 03 Mar 2012 04:19 PM PST What is one sure thing sure to set triggerhappy warmonger fingers in the US and Israel on Defcon 1 more than the word Iran? The words Iran and North Korea. How about three nouns that will send crude soaring by at least $10 the second a CL trading algo sees them fly across Bloomberg? Try "Iran" "North Korea" and "Nukes." And if the following report just released by the Wiener Zeitung is even remotely correct, then Israel, the military industrial complex, and crude are all about to go ballistic, not necessarily in that order.
According to one of Europe's most famous newspapers, which in turn references a report in Welt am Sontag, North Korea has conducted at least two nuclear warhead tests in 2010, of which was on behalf of Iran. "This could mean that with North Korea's help Tehran may already have a tested nuclear warhead....According to the newspaper "Welt am Sonntag", this assumption is based on data from the Organization of the contract for the Comprehensive Nuclear Test Ban. Accordingly, the Swedish nuclear physicist Lars-Erik De Geer uses data from monitoring stations in South Korea, Japan and Russia and believes that North Korea instead of uranium, used plutonium in two prior secret tests as far back as in 2006 and 2009." What is striking here is the effluvience of meaningless innuendo and baseless allegations. But this certain plant may well be the false flag straw that breaks the camel's back. While it is unclear if it was planted by the US or Israel is irrelevant, it has one simple mission - to preempt even more irrationality by Iran, a day after its parliamentary election has put president Ahmedinajad in power vacuum limbo, with his chief opponent gaining vast popular support. Which is precisely what is needed to validate a response. More from the Austrians, google translated:
Supposedly this means that all military operations now will take for granted that the axis of uber-evil, i.e., North Korea and Iran, now just can't wait to shoot ICBMs at every capital in the "free and democratic" western world, just because they "hate it for its freedoms" [sic]. One does not have to be a rocket scientist to realize that this is simply yet another media fallback alibi to justify an offensive incursion into Iran, if and when it is required. The only question is if the global deflationary collapse (ala Lehman) will happen before or after, which in turn, as John Taylor wrote a few days ago, will then be promptly followed by the (luckily) terminal central planning hyper-reflation experiment. In the meantime, let the crude liberation begin. h/t JohnGaltFla
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| David Rosenberg: "The Best Currency May Be Physical Gold" Posted: 03 Mar 2012 03:17 PM PST Stop us when this sounds familiar:
Short and sweet. From David Rosenberg of Gluskin Sheff
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| How to Put Yourself on the Gold Standard Posted: 03 Mar 2012 03:01 PM PST While you may agree with me that the world desperately needs the gold standard, you may be equally convinced that the day global leaders embrace it is still a long way off. Read More...
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| Michael Pento: Gold Will Surge 20% to 30% in the Next Twelve Months Posted: 03 Mar 2012 02:09 PM PST from King World News:
Michael Pento continues: Read More @ KingWorldNews.com
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| Pento - Gold Will Surge 20% to 30% in the Next Twelve Months Posted: 03 Mar 2012 09:07 AM PST  Today Michael Pento told King World News precisely when he expects the next round of quantitative easing to be announced and how much the price of gold will spike. For KWN readers globally, according to Bloomberg News, Michael Pento has correctly predicted the annual high prices of gold for the last three years in a row. Pento, who founded Pento Portfolio Strategies, also gave this extraordinary account of previous rounds of QE and their impact on the gold market: "Global central banks have now entered the twilight zone of monetary policy. Never before in the history of planet earth have we seen such a synchronized counterfeiting scheme to monetize insolvent sovereign debt. However, right now there is a break in the action."
This posting includes an audio/video/photo media file: Download Now |
| Posted: 03 Mar 2012 08:18 AM PST Recently, I have seen many estimates suggesting gold and silver are going to do a moon shot by mid-year or at some point in the future. These kinds of cheer leading predictions, without real supporting evidence, does a disservice to the investing community in their due diligence process. You will not find blue sky predictions here, only clear, credible and convincing evidence. Improvements in gold and silver prices are always in steps and considerable patience needs to be exercised while waiting for the next surge or price achievement to occur. Under the current financial debt[COLOR=#e06666] and economic circumstances we are all familiar with, increases in the price of gold and silver will be significant and substantial over time. But those ultimate values are still unknown and should be regarded as mere speculation. Right now, our job is simply patience and preparation for whatever final result occurs.[/COLOR] [CENTER]Current Points of Interest [/CENTER] As noted 2/26/12, "the ...
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| Precious Metals Special Report with Kathryn Derbes, David Morgan & John Doody Posted: 03 Mar 2012 08:10 AM PST David Morgan: Silver likely to take out $60 oz. by year end
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| Groundhog Day Meets the Markets Posted: 03 Mar 2012 07:45 AM PST Another day, another week passed and it feels like we are all living a dream and playing the role Bill Murray did in the movie Groundhog Day. Virtually the past week felt like February 2nd. Still there were some trades around for those traders that were keeping in touch with the markets. The obvious ones were gold and silver.
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| The Pan Asia Gold Exchange will end the COMEX Monopoly Posted: 03 Mar 2012 07:38 AM PST Ned Naylor-Leyland from Cheviot Asset Management... [[ This is a content summary only. Visit my website http://goldbasics.blogspot.com for full Content ]] 
This posting includes an audio/video/photo media file: Download Now |
| Alf Field: Gold Likely to Retest $1,650 ? $1,685 Before Continuing Move to $4,500 Posted: 03 Mar 2012 07:13 AM PST In spite of what happened to gold on 29 February 2012, when it dropped from $1792 to a low of $1686,*it is*still tracking well in line with Elliott Wave expectations. [That being said]*a rally, followed by a further decline*to [somewhere between*$1,650 and] $1685 is a more*likely outcome [before going onwards and upwards. Let me explain.] Words: 628 [/CENTER] Field*goes on to say, in part: Before dealing with the current move, [however, let's review just] what our expectations are. What we know so far is that: [LIST] [*]Intermediate Wave III started at $1523 and that we have a target of $4,500 for the end of Wave III, [*]Wave III will consist of five regular waves which we will label 1 2 3 4 and 5. [*]Regular waves 2 and 4 will be the anticipated 13% downward corrections described in my speech to the Sydney Gold Symposium. [See edited*excerpts of Field's speech here.] [*]Regular wave 1 will consist of 5 minor waves which we label (i) (ii) (iii) (iv) and (v). [*]Waves (ii) and (iv) ...
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| James Turk: Here?s the Real Reason the Gov?t Confiscated Gold in 1933 Posted: 03 Mar 2012 07:13 AM PST FDR confiscated American's gold for the same reason Lenin confiscated it in Russia and Hitler confiscated it in Germany, namely, to get it out of the hands of the people. [That view is contrary to the prevailing belief that such was done] to re-establish confidence in the dollar.*[Let me explain the background of this confiscation and my rationale for coming to such a conclusion.] Words: 815 So says James Turk*([url]www.fgmr.com[/url])*in edited excerpts from an article* posted on Seeking Alpha which Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!), has further edited below for length and clarity – see Editor’s Note at the bottom of the page. (This paragraph must be included in any article re-posting to avoid copyright infringement.) Turk*goes on to say, in part: The Prevailing Myth of Gold Confiscation There are a number of common misconceptions about the gold confiscation foisted on the American people by President Franklin Roosevelt in 1933. Most...
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| Guest Post: Americans Will Need “Black Markets” To Survive Posted: 03 Mar 2012 07:05 AM PST Submitted by Brandon Smith from Alt-Market Americans Will Need "Black Markets" To Survive
As Americans, we live in two worlds; the world of mainstream fantasy, and the world of day-to-day reality right outside our front doors. One disappears the moment we shut off our television. The other, does not… When dealing with the economy, it is the foundation blocks that remain when the proverbial house of cards flutters away in the wind, and these basic roots are what we should be most concerned about. While much of what we see in terms of economic news is awash in a sticky gray cloud of disinformation and uneducated opinion, there are still certain constants that we can always rely on to give us a sense of our general financial environment. Two of these constants are supply and demand. Central banks like the private Federal Reserve may have the ability to flood markets with fiat liquidity to skew indexes and stocks, and our government certainly has the ability to interpret employment numbers in such a way as to paint the rosiest picture possible, but ultimately, these entities cannot artificially manipulate the public into a state of demand when they are, for all intents and purposes, dead broke. In contrast, the establishment does have the ability to make specific demands or necessities illegal to possess, and can even attempt to restrict their supply. Though, in most cases this leads not to the control they seek, but a sudden and sharp loss of regulation through the growth of covert trade. The people need what the people need, and no government, no matter how titanic, can stop them from getting these commodities when demand is strong enough. This process of removing necessary or desirable items from a trade environment leads inevitably to counter-prohibition often in the form of strict cash transactions, barter markets, or "black markets" as they are normally derided by those in power. The problem for economic totalitarians is that the harder they squeeze the masses, the more intricate the rebellion becomes, especially when all they want is to participate in free markets the way our forefathers intended. The so called "drug war" is proof positive of the impossibility of locking down a product, especially one that has no moral bearing on the people who are involved in its use. Only when a considerable majority of a populace can be convinced of the inherent immoral nature of an illicit item can its trade finally be squelched. During any attempt to outlaw a form of commerce, a steady stream of informants convinced of their service to the "greater good" is required for success. Dishonorable governments, therefore, do not usually engage in direct confrontation with black markets. Instead, they seek to encourage the public to view trade outside mainstream legal standards as "taboo". They must condition us to react with guilt or misplaced righteousness in the face of black market activity, and associate its conduct as dangerous and destructive to the community, turning citizens into an appendage of the bureaucratic eye. But, what happens when black markets, due to calamity, become a pillar of survival for a society? What happens when the mainstream economy no longer meets the available demand? What happens when this condition has been deliberately engineered by the power structure to hasten cultural desperation and dependence? In this event, black markets not only sustain a nation through times of weakness, but they also become a form of revolution; a method for fighting back against the centralization of oppressive oligarchies and diminishing their ability to bottleneck important resources. Black markets are a means of fighting back, and are as important as any weapon in the battle for liberty. Here are just a few reasons why such organizational actions may be required in the near future… The Mainstream Economy Is Slowly Killing Us There are, unfortunately, some Americans out there who have not caught on yet to the grave circumstances in which we live. Obviously, the stock market seems to have nearly recovered from its epic collapse in 2008 and 2009, and employment, according to the Labor Department, is on the mend. The numbers say it all, right? Wrong! The numbers say very little, especially when they are a product of "creative mathematics". Despite the extreme spike in the Dow Jones since 2010, and all the talk of recovery, what the mainstream rarely mentions are the details surrounding this miraculous return from the dead for stocks. One of the most important factors to consider when gauging the health of the markets is "volume"; the amount of shares being traded and the amount of investors active on any given business day. Since the very beginning of the Dow's meteoric rise, the markets have been stricken with undeniably low volume interspersed with all too brief moments of activity. In fact, this past January recorded the lowest NYSE volume since 1999: http://www.bloomberg.com/news/2012-01-23/stock-trading-is-lowest-in-u-s-since-2008.html Market volume has tumbled over 20% since last year, and is down over 50% from 2008 when the debt implosion began: So then, if trade is sinking, why has the Dow jumped to nearly 13,000? Low volume is the key. In a low volume market, less individual investors are present to counteract the buying and selling of larger players, like international banks. When this happens, the big boys are able to trigger market spikes, or market drops, literally at will. Add to this the high probability that much of the stimulus that the Federal Reserve has regurgitated into the ether probably ended up in the coffers of corporate banks which then used the funny money to snap up equities, and presto! Instant market rally! But, a rally that is illusory and unstable. Improving employment numbers are yet another financial hologram. As most of us in the Liberty Movement are well aware, the Labor Department does not calculate true unemployment in the U.S. Instead, it merely calculates those people who currently receive unemployment benefits. Once a person hits the extension limit (99 weeks in many states) on his benefits, he is removed from the rolls, and is no longer counted in the "official" unemployment percentage. While Barack Obama and MSM pundits are quick to point out the drop in jobless to 8.3%, what they conveniently fail to mention is that MILLIONS of Americans have been unemployed for so long that they have been removed from the statistics entirely, and this condition is what has caused the primary fall in jobless percentages, not burgeoning business growth. Roughly 11 million Americans who are jobless have nonetheless been excluded from the statistical government tally because of a loss of benefits: According to the Congressional Budget Office, over 40% of the currently unemployed have been so for over 6 months. It also points out that America is suffering the worst case of long term unemployment since the Great Depression: More than 10.5 million people in the U.S. also receive disability payments, which automatically removes them from the unemployment count, making it seem as though jobs are being created, rather than lost: Around 8.2 million Americans only work part time, meaning they work less hours than are generally considered to be necessary for self-support. These people are still counted as "employed" even if they work a few hours a week. True unemployment, according to John Williams of Shadowstats, is hovering near 23%: Combine these circumstances with the ever weakening dollar, price inflation in foods and other commodities, and rocketing energy costs, and you have an economy that is strangling the life out of the middle-class and the poor in this country. It is only a matter of time before the populace begins searching for alternative means of subsistence, even if that entails "illegal" activities. I was recently walking through the parking lot of a grocery store and ran into a group of women huddled intently around the back of a mini-van. One of the women was reaching into a cooler and handing out glass containers filled with milk. I approached to ask if she was selling raw milk, and if so, how much was she charging. Of course, they turned startled and wide eyed as if I had just stumbled upon their secret opium ring. Somehow it had slipped my mind how ferocious the FDA has become when tracking down raw milk producers. The fact that these women were absolutely terrified of being caught with something as innocuous as MILK was disturbing to me. How could we as a society allow this insanity on the part of our government to continue? That moment reminded me of the utter irrelevance of petty law, as well as the determination of human beings to defy such law. The Orwellian hammer has been thrust in the face of those who trade in raw milk, organic produce, and herbal supplements, while small businesses are annihilated by government dues and red tape. In the meantime, law enforcement officials have been sent strapped to shut down children's lemonade stands (no, seriously): Government legislation which would give the FDA jurisdiction over personal gardens has been fielded. Retail gold and silver purchases of over $600 are now tracked and taxed. The IRS even believes it has the right to tax barter exchanges, even though they do not explain how bartered goods could be legally qualified as "income", or how they can conceive of ever being able to trace such private trade: http://www.irs.gov/newsroom/article/0,,id=205581,00.html Want to choose what kind of currency you would like to use to protect your buying power? Not if the Department Of Justice's Anne Tompkins has anything to say about it. After the railroading of Liberty Dollar founder Bernard von NotHaus, she stated: "While these forms of anti-government activities do not involve violence, they are every bit as insidious and represent a clear and present danger to the economic stability of this country," she added. "We are determined to meet these threats through infiltration, disruption, and dismantling of organizations which seek to challenge the legitimacy of our democratic form of government." http://www.fbi.gov/charlotte/press-releases/2011/defendant-convicted-of-minting-his-own-currency As our economic situation grows increasingly precarious in this country, more and more people will turn towards localized non-corporate, non-mainstream business methods and products. And, the government will no doubt attempt to greatly restrict or tax these alternatives. This mentality is driven in part by their insatiable appetite for money, but mostly, it's about domination. They do what they do because they fear decentralized markets, and the ability of the citizenry to conceive of choices outside the system. Slaves are not supposed to choose the economy they will participate in… A "black market" is only a trade dynamic that the government disapproves of, and the government disapproves of most things these days. Frankly, its time to stop worrying about what Washington D.C. consents to. They have unfailingly demonstrated through rhetoric and action that they are not interested in the fiscal or social health of this nation, and so, we must take matters into our own hands. If the events in EU nations such as Greece, Spain, and Italy are any indication, the U.S., with its massive debt to GDP ratio (real debt includes entitlement programs), is looking at one of two possible scenarios: default, austerity measures, and high taxes, or, hyperinflation, and then default, austerity measures, and high taxes. In the past we have mentioned barter networking and alternative market programs springing up in countries like Greece and Spain allowing the people to cope with the faltering economy. Much of this trade is done away from the watchful eyes of government, simply because they cannot afford the gnashing buffalo-sized bites that bureaucrats would take from their savings in the process. When a government goes rogue, and causes the people harm, the people are in no way obligated to continue supporting that government. Black markets give the citizenry a means to protest the taxation of a government that no longer represents them. In a country stricken with austerity, these networks allow the public to thrive without having to pay for the mistakes or misdeeds of political officials and corporate swindlers. In a hyperinflationary environment, black markets (or barter markets that have been deemed unlawful), can be used to supplant the imploding fiat currency altogether, and energize community markets that would otherwise be unable to function. Ultimately, black markets feed and clothe the grassroots movement towards economic responsibility, and every man and woman with any sense of independence should rally around this resource with the intention to fight should it ever be threatened. "Legality" is arbitrary in the face of inherent conscience, or what some call "natural law". Without arbitrary legality, and unjust and unwarranted regulation, many federal alphabet agencies would not exist, including the FDA, the IRS, the EPA, the BLM, etc. These institutions do not matter. What they say has no meaning. What matters is what is honorable, what is factual, and what is right. Our loyalty, as Americans, is to our principles and our heritage. Beyond that, we don't owe anyone anything. A black market in one place and time is a legitimate market in another. For now, private localized trade is able to flow with only minor interference, but there will come a day when even the most practical and harmless personal transactions will be visited with administrative reproach and vitriol. Alternative market champions will be accused of "extremism", and undermining the mainstream economy. We will be vilified as separatists, isolationists, terrorists, and traitors. I believe it will be far more surreal than what we can possibly imagine now. They are welcome to call us whatever they like. Honestly……who cares? Let the paper pushers do their angry little dance. The goal is freedom; in life, in politics, and in trade. If we do not change how this country does business ourselves, the results will be far more frightening than any government agent at our doorstep, and the costs will be absolute…
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| Posted: 03 Mar 2012 07:02 AM PST Alasdair Macleod writes: Recently there have been reports that if Greece defaults on the new bail-out package, creditors will be entitled to seize her gold. Whether or not this is true, it raises one big question: given the severe financial and economic crisis in Europe, what is the current collective attitude of the eurozone central banks to gold?
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| Eric Sprott - What Happened in Gold & Silver is Stunning Posted: 03 Mar 2012 05:43 AM PST 'It's a managed retreat here. The price of gold and silver go up every year, but they don't want it to get out of hand.'
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| Harvey Organ's Gold & Silver Report Posted: 03 Mar 2012 05:31 AM PST ECB record deposits/Moody's lowers Greek debt to C/Spanish unemployment rises as GDP contracts
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| Allan Flynn: Wednesday's intervention -- too big to spoil? Posted: 03 Mar 2012 05:08 AM PST 1p ET Saturday, March 3, 2012 Dear Friend of GATA and Gold: Observations on last week's gold smashdown collected by our friend Allan Flynn suggest that the gold price suppression scheme has lost its cover. Flynn's commentary is headlined "Wednesday's Intervention -- Too Big to Spoil?" and it's posted at his blog here: http://comexwehaveaproblem.blogspot.com.au/2012/03/thursdays-interventio... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Be Part of a Chance to Discover Northaven Resources Corp. (TSX-V:NTV) is advancing five gold and silver projects in highly prospective and politically stable British Columbia, Canada. Check out the exploration program on our Allco gold/silver project : -- A large (13,000 hectare) property, covering more than 15 square kilometers of a regional mineralized trend just 3km from a recently announced 1.2-million-ounce gold and 15-million-ounce silver deposit. -- The property hosts historic high-grade silver workings and many mineral showings as well as former mines at the property's northern and southern boundaries. -- A deep-penetrating airborne geophysics survey has just been completed on the entire property and neighboring deposits and its results are eagerly awaited. To learn more about the Allco property or Northaven's other gold and silver projects, please visit: http://www.northavenresources.com Or call Northaven CEO Allen Leschert at 604-696-3600. 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 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/
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| Posted: 03 Mar 2012 04:28 AM PST Summary: Long term - on major buy signal. Short term - on mixed signals. As long as the gold cycle is up, we continue to hold our positions with stops and will add to positions upon new set ups. Read More...
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| Posted: 03 Mar 2012 03:06 AM PST Jim Sinclair's Commentary The important unanswered question is "Where is the money coming from?" The answer is from the global Western world lender of last resort, the US Federal Reserve. This was just proven. As far as the dollar is concerned, no one is focused on the "utilization" that is fading fast and will Continue reading In The News Today
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| Posted: 03 Mar 2012 02:55 AM PST
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| It's physical vs. paper, Embry tells Future Money Trends Posted: 03 Mar 2012 02:40 AM PST 10:36a ET Saturday, March 3, 2012 Dear Friend of GATA and Gold: Interviewed by Dan Ameduri of Future Money Trends after participating in the GATA presentation at Cambridge House's California Investment Conference last month, Sprott Asset Management's John Embry reiterates that the precious metals will break free of price suppression only when the physical market overcomes the paper market. The interview is not quite seven minutes long and it's posted at Future Money Trends here: http://futuremoneytrends.com/index.php/category-table/144-john-embry CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Sona Discovers Potential High-Grade Gold Mineralization From a Company Press Release VANCOUVER, British Columbia -- With its latest surface diamond drilling program at its 100-percent-owned, formerly producing Blackdome gold mine in southern British Columbia, Sona Resources Corp. has discovered a potentially high-grade gold-mineralized area, with one hole intersecting 13.6 grams of gold in 1.5 meters of core drilling. "We intersected a promising new mineralized zone, and we feel optimistic about the assay results," says Sona's president and CEO, John P. Thompson. "We have undertaken an aggressive exploration program that has tested a number of target zones. Our discovery of this new gold-bearing structure is significant, and it represents a positive development for the company." Sona aims to bring its permitted Blackdome mill back into production over the next year and a half, at a rate of 200 tonnes per day, with feed from the formerly producing Blackdome mine and the nearby Elizabeth gold deposit property. A positive preliminary economic assessment by Micon International Ltd., based on a gold price of $950 per ounce over eight years, has estimated a cash cost of $208 per tonne milled, or $686 per gold ounce recovered. For the company's complete press release, please visit: http://www.sonaresources.com/_resources/news/SONA_NR18_2011-opt.pdf 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 Prophecy Coal (TSX: PCY) Wins Positive Feasibility Study Company Press Release VANCOUVER, British Columbia, Canada -- Prophecy Coal Corp. (TSX: PCY, OTCQX: PRPCF, Frankfurt: 1P2) has received a positive feasibility study for the company's 600-megawatt Chandgana Mine-Mouth Power Project in central Mongolia. The report was independently prepared by Ralf Thomsen, project manager at Steag, a German firm specializing in the planning, financing, construction, and operation of highly efficient thermal power plants for fossil fuels. The study covers technical specifications, deployment, and financial analysis of a 4x150-mw thermal power plant to be built adjacent to Prophecy's Chandgana Tal coal deposit, which contains 140 million tonnes of measured coal. Last year the power plant received a construction license and the coal deposit received a mining license. Engineering, procurement, and construction management selection and project financing discussion have begun and are expected to be concluded this year. Construction is planned to start in April 2013, with the first 150-mw unit being commissioned in October 2015 and subsequent units to start in April 2016, October 2016, and April 2017. With proper maintenance the project will have 30 years of commercial operation. For the complete statement from the company, including maps and charts, please visit: http://www.prophecycoal.com/news_2011_jan17_prophecy_receives_power_plan...
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| Wall Street banks, Fed face off over commodity businesses Posted: 03 Mar 2012 01:59 AM PST By David Sheppard, Jonathan Leff, and Josephine Mason http://www.reuters.com/article/2012/03/02/us-fed-banks-commodities-idUST... NEW YORK -- Wall Street's biggest banks are locked in an increasingly frantic struggle with the Federal Reserve over the right to retain the jewels of their commodity trading empires: warehouses, storage tanks, and other hard assets worth billions of dollars. While the battle over proprietary trading and new derivatives regulations has taken place largely in public view since the 2008 financial crisis, the fight by JPMorgan Chase, Morgan Stanley, and Goldman Sachs to retain or expand their prized physical commodity operations -- most acquired in only the past six years -- has remained hidden. The debate is nearing an inflection point: Within 18 months, the Fed will likely either allow banks more freedom to invest in the physical commodity world than ever; or force them to sell off the assets that many banks are counting on to buttress their trading books at a time when they are already vulnerable because of intensifying competition and new trading curbs. ... Dispatch continues below ... ADVERTISEMENT Be Part of a Chance to Discover Northaven Resources Corp. (TSX-V:NTV) is advancing five gold and silver projects in highly prospective and politically stable British Columbia, Canada. Check out the exploration program on our Allco gold/silver project : -- A large (13,000 hectare) property, covering more than 15 square kilometers of a regional mineralized trend just 3km from a recently announced 1.2-million-ounce gold and 15-million-ounce silver deposit. -- The property hosts historic high-grade silver workings and many mineral showings as well as former mines at the property's northern and southern boundaries. -- A deep-penetrating airborne geophysics survey has just been completed on the entire property and neighboring deposits and its results are eagerly awaited. To learn more about the Allco property or Northaven's other gold and silver projects, please visit: http://www.northavenresources.com Or call Northaven CEO Allen Leschert at 604-696-3600. The banks are now locked in deep debate with the Fed, multiple sources involved in the discussions told Reuters. Goldman and Morgan Stanley argue the right to own such assets is "grandfathered" in from their lightly-regulated investment banking days, or that at least they should be allowed to retain them as "merchant banking" investments, kept segregated from the trading desks. But regulators and lawmakers may not be in the mood to give way. Banks are under pressure to reduce risk on their balance sheet; as commodity prices rise again, they may face more allegations that they could use these assets to drive prices higher or lower, squeezing them for trading profits. "The Fed's not going to be terribly accommodating," said Oliver Ireland, a former associate counsel to the U.S. Federal Reserve and a partner with law firm Morrison Foerster in Washington, D.C. "There doesn't seem to be a lot of sentiment in this town for people doing new things and taking new risk." Should these banks lose the debate, the result may be the biggest shake-up in commodity markets since the early 1980s, when Wall Street first discovered the potential profits to be made by wading deep into the murky world of crude oil cargoes, copper stockpiles, and power plants. "Adding large-scale, complex commodity market activities to 'too-big-to-fail' bank portfolios, with dangerous potential ramifications to the real economy -- as demonstrated in California by Enron -- is not comforting," says John Fullerton, who ran JPMorgan's commodity business in the 1990s and is now a markets activist at the Capital Institute in Connecticut. The loss of their coveted assets would be a blow for the banks at the worst possible moment, with their proprietary trading desks shut down, commodity merchants trying to poach their top traders and new Basel III capital regulations requiring them to further build capital reserves. Morgan Stanley's commodity trading revenues have fallen by some 60 percent over the past three years. Goldman Sachs' commodities business revenues fell from $4.6 billion in 2009 to $1.6 billion in each of the past two years. The Fed declined to discuss specific companies directly or the likely final outcome of the talks. Spokespeople for Morgan Stanley, Goldman Sachs, and JPMorgan declined to comment on detailed questions put to them by Reuters. To a degree, it is a story that has been hiding in plain sight. In last year's second-quarter Securities and Exchange Commission filing, Morgan Stanley added the following new text to its lengthy Supervision and Regulation disclaimer: "The company is engaged in discussions with the Federal Reserve regarding its commodities activities. If the Federal Reserve were to determine that any of the company's commodities activities did not qualify for the BHC (Bank Holding Company) Act grandfather exemption, then the company would likely be required to divest any such activities." That disclosure was made at about the same time the bank began to have second thoughts about a new $430 million storage tank investment undertaken by its publicly listed oil transport and logistics subsidiary TransMontaigne, according to two people familiar with the transaction. In October, TransMontaigne reduced its stake in the project to 50 percent; it sold the rest in January. The bank's abrupt change of stance last year is the clearest sign yet that the Federal Reserve may be taking a harder line. Yet it may be JPMorgan, which has eclipsed long-time market leaders Goldman and Morgan under commodities chief Blythe Masters, that will be first to feel its effects. The bank has begun sounding out possible buyers for its small operation trading metal concentrates, according to one source who examined the business late last year. It acquired that business when it bought most of RBS Sempra in mid-2010, but because metal concentrates aren't traded on any exchange, they were not covered by a 2008 Federal Reserve order that allowed RBS to begin trading physical commodities. More importantly, the sale has also raised questions about JPMorgan's ownership of its global metals warehousing business Henry Bath, which had also been excluded from the RBS waiver. The Fed's rules give banks a two-year grace period in which to divest any non-compliant businesses they acquire; sources say it's not clear why JPMorgan would be exempt from this rule. Goldman too faces scrutiny of its ownership of Detroit-based metal warehousing firm Metro International. Goldman has come under fierce criticism from companies such as Coca-Cola, which has accused it of inflating metal prices. Since buying the privately held firm in early 2010, the bank has taken great pains to avoid any direct involvement in its business to minimize regulatory scrutiny, according to two industry sources. But questions remain. The warehouses are lucrative on their own: As surplus metal stocks accumulated during the recession, profits at the UK-based Henry Bath surged to more than $110 million in 2009 and near $80 million in 2010, about $1 million per employee per year, according to annual reports filed to UK Companies House in November. These units could, in theory, be run as "merchant banking" investments, as with Metro, but that requires they be kept at arm's length and divested within 10 years. But for trading firms, that's only half the benefit. "The truth of it is that having access to the physical markets is about optimization and knowledge -- it gives you the visibility of the market to make far more successful proprietary trading decisions in both physical and financial markets," said Jason Schenker, President and Chief Economist at Prestige Economics in Austin, Texas. "That's why for many years the most successful traders had access to both markets, and why we've seen little sign they're moving quickly to divest these assets now. It's trading with material non-public information. The difference compared with equity markets is that it's perfectly legal." Based on past precedent, financial holding companies would still be allowed to be involved in trading physical commodities like oil or metals, even if they are not allowed to outright own the physical infrastructure which supports their operations. Between 2003 and 2008, the Federal Reserve granted permission for nearly a dozen banks to engage in such trading, which it deemed "complementary" to financial operations within certain limits. Citigroup was the first in, seeking approval on behalf of its aggressive trading unit Phibro. But there are signs that the Fed may be reassessing. The permit to form RBS Sempra in March 2008 is one of the last it has granted, according to the Fed's quarterly bulletins. That took eight months to negotiate, and covered a range of activities including third-party refining that the Fed had not previously approved. In 2009 Bank of America told the Fed of its plans to trade a broad range of commodities following its acquisition of Merrill Lynch, which had not been subject to Fed regulations, a source familiar with the discussion said. BoA secured its own approval from the Fed to engage in physical trading in 2007, but Merrill's operation was much larger -- although still within the scope of what the Fed had approved for other banks such as RBS. That request is still pending, the source said, even though BoA has not sought permission to own or operate physical assets. "Beginning in 2009 we have been working with regulators to ensure that we will continue to service our clients in the physical commodity market with products and services on which they have relied," a BoA spokeswoman told Reuters in response to questions. On the other hand, if the Fed allows Goldman, Morgan Stanley, and JPMorgan to retain all their assets, it may open up a Pandora's box. Rivals are already up in arms about the potential for a competitive disadvantage. "It's a space we'd love to be in, but have had to limit our investments to Europe and Asia due to the Financial Holding Company regulations," one lawyer with a rival European bank said. 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 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/
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| Alasdair Macleod: Where is Greece's gold? Posted: 03 Mar 2012 01:35 AM PST 9:30a ET Saturday, March 3, 2012 Dear Friend of GATA and Gold: Writing for GoldMoney, economist and former banker Alasdair Macleod finds in speculation about the disposition of Greece's gold reserve a reminder that the gold may not even exist if it is stored outside the country with other central banks or the Bank for International Settlements, which may have dumped it into their fractional-reserve gold banking systems. Macleod writes: "As central bankers mull the point over, they may well conclude that among all their troubles there is one more that must be avoided at all costs: the possibility of a gold run by the smaller central banks on their larger peers in the major bullion trading centers. It would be a consequence of the deepening crisis involving fiat money and credit, and if this is allowed to occur, all confidence in paper money itself would be at risk." Macleod's commentary is titled "Where Is Greece's Gold?" and it's posted at GoldMoney here: http://www.goldmoney.com/gold-research/alasdair-macleod/where-is-greeces... 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.
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Today Michael Pento told King World News precisely when he expects the next round of quantitative easing to be announced and how much the price of gold will spike. For KWN readers globally, according to Bloomberg News, Michael Pento has correctly predicted the annual high prices of gold for the last three years in a row. Pento, who founded Pento Portfolio Strategies, also gave this extraordinary account of previous rounds of QE and their impact on the gold market: "Global central banks have now entered the twilight zone of monetary policy. Never before in the history of planet earth have we seen such a synchronized counterfeiting scheme to monetize insolvent sovereign debt. However, right now there is a break in the action."
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