Gold World News Flash |
- Stealthy QE3
- OPPORTUNITY KNOCKS — A Quick Note on Recent Gold-Price Action
- Bernanke Broods Over New Ways To Print Money – Waiting For Gold To Explode
- Silver smashdown costing shorts a lot of metal, KWN's London trader says
- Pat Heller: Liberty Dollar's von Not Haus did nothing wrong or unusual
- London Trader - Massive Physical Silver Orders Filled Near $33
- Gold Seeker Closing Report: Gold and Silver Gain Roughly 1%
- China offers renminbi loans to other BRICs
- Agitation in Switzerland and Germany to bring their gold home from U.S.
- Gold Holding at November Low
- Save Time: Read These Latest (and Best) Financial Article Summaries
- 51 Analysts: Gold Price to Average $5,500 ? $6,500/ozt. in 2015!
- Switzerland Wants It's Barbaric Relics Back
- Rick Rule at PDAC
- Guest Post: The IPCC May Have Outlived its Usefulness - An Interview with Judith Curry
- Revisiting the Gold Bugs Index
- Why U.S. Gov’t Confiscated Gold in 1933. Can it Happen Again? Part 2
- Gold 'fundamentally cheap' as measure of money supply, Brodsky tells KWN
- In The News Today
- German Bundesbank’s “Incredible Gold Scandal”
- Swap
- Labor Market Shows More Signs of Life
- Jim Rogers: The Government Is Lying About Inflation And It's Crushing The Consumer
- Interesting Gold Commentary
- Super Tuesday A “Super Letdown” As America Realizes That Her Presidential Candidates “Just Suck” (with Dr. Paul Craig Roberts)
- Switzerland Wants Its Gold Back From The New York Fed
- Mike “Mish” Shedlock and Kerry Lutz – Financial Survival Network – 07.Mar.2012
- Greece / Student Loans / German Manufacturing Down / Germany ‘Reviewing Their Gold Reserves' / Hug Margin Calls Now On ECB Books
- Paul Brodsky: US Money Base Will Explode to $15 – $17 Trillion
| Posted: 07 Mar 2012 05:18 PM PST The Gold Speculator
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| OPPORTUNITY KNOCKS — A Quick Note on Recent Gold-Price Action Posted: 07 Mar 2012 05:08 PM PST Nichols on Gold
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| Bernanke Broods Over New Ways To Print Money – Waiting For Gold To Explode Posted: 07 Mar 2012 04:32 PM PST Perhaps it was the realization that the U.S. Federal Reserve was losing to the ECB in the money printing race. Perhaps it was the realization that the only way to prevent a debt imperiled economy from imploding was by supplying new doses of the only remedy left in the Fed's medicine bag. In any event, [...]
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| Silver smashdown costing shorts a lot of metal, KWN's London trader says Posted: 07 Mar 2012 04:21 PM PST 12:15a ET Wednesday, March 7, 2012 Dear Friend of GATA and Gold: The King World News London metals trader reports tonight that, as with gold, silver -- the metal, not the paper -- has been massively accumulated on the latest smashdown in the paper market. He says: "The Chinese are doing the exact same thing in the silver market that they are doing in the gold market -- massive accumulation on dips. ... The local traders in silver are short and nervous. Everyone is short silver and so that market can move violently higher when it turns." The interview is posted at the King World News blog here: 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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| Pat Heller: Liberty Dollar's von Not Haus did nothing wrong or unusual Posted: 07 Mar 2012 04:11 PM PST 12:07a ET Thursday, March 8, 2012 Dear Friend of GATA and Gold: Patrick A. Heller, proprietor of Liberty Coin Service in Lansing, Michigan, has written a brilliant letter, full of specific details of U.S. monetary history, to U.S. District Judge Richard L. Voorhees of the Western District of North Carolina in support of leniency in sentencing of Liberty Dollar founder Bernard von Not Haus, whose conviction a year ago on a charge resembling counterfeiting seems to many of us to be a gross injustice. Heller notes that private currency using the word "dollar" long has circulated and continues to circulate without penalty in the United States, and that von Not Haus never represented his currency as issue of the U.S. government. Heller's letter is posted at Numismaster here: http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=248... If you're inclined to join Heller in urging the judge to be lenient with von Not Haus, here's the judge's address: U.S. District Judge Richard L. Voorhees That the judge has delayed sentencing so long may imply that he is reconsidering the important issues raised by the von Not Haus case, cited in the appeal brief filed by GATA: http://www.gata.org/files/GATAAmicusBriefLibertyDollar-06-01-2011.pdf Other commentary on those issues is here: 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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| London Trader - Massive Physical Silver Orders Filled Near $33 Posted: 07 Mar 2012 04:01 PM PST  With many global investors concerned about the recent action in the silver market, King World News interviewed the "London Trader" to get his take on what has taken place in silver and what to look for going forward. Here is what the source had to say: "The Chinese are divesting out of paper right now. So we are seeing a huge uptick in euro physical silver purchases, as well as dollar silver purchases. When silver took out $33, a huge amount of physical orders were filled."
This posting includes an audio/video/photo media file: Download Now |
| Gold Seeker Closing Report: Gold and Silver Gain Roughly 1% Posted: 07 Mar 2012 04:00 PM PST Gold fell to $1671.21 in Asia before it rebounded to $1682.73 in London and then dropped back to $1672.40 by midmorning in New York, but then rose to a new session high of $1687.70 in the last hour of trade and ended with a gain of 0.65%. Silver slipped to $32.695 before it climbed back to $33.223 and then dropped to $32.826, but it then rose to a new session high of $33.556 and ended with a gain of 1.28%.
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| China offers renminbi loans to other BRICs Posted: 07 Mar 2012 03:46 PM PST By Henny Sender and Joe Leahy http://www.ft.com/intl/cms/s/0/3e46ac04-67fd-11e1-978e-00144feabdc0.html China intends to extend renminbi loans to other BRICs nations, in another step towards the internationalisation of its currency. The China Development Bank will sign a memorandum of understanding in New Delhi with its Brazilian, Russian, Indian, and South African counterparts on March 29, say people familiar with their talks. Under the agreement the bank, which lends mainly in dollars overseas, will make renminbi loans available, while the other BRICs nations' development banks will also extend loans denominated in their respective currencies. The initiative aims to boost trade between the five nations and promote use of the renminbi, rather than US dollar, for international trade and cross-border lending. Under 13 per cent of China's Asia trade is transacted in renminbi, according to Helen Qiao, chief Asia economist for Morgan Stanley. HSBC estimates that the currency's share of regional trade could swell to up to 50 per cent by 2015. ... Dispatch continues below ... ADVERTISEMENT Sona Discovers Potential High-Grade Gold Mineralization From a Company Press Release VANCOUVER, British Columbia -- With its latest surface diamond drilling program at its 100-percent-owned, formerly producing Blackdome gold mine in southern British Columbia, Sona Resources Corp. has discovered a potentially high-grade gold-mineralized area, with one hole intersecting 13.6 grams of gold in 1.5 meters of core drilling. "We intersected a promising new mineralized zone, and we feel optimistic about the assay results," says Sona's president and CEO, John P. Thompson. "We have undertaken an aggressive exploration program that has tested a number of target zones. Our discovery of this new gold-bearing structure is significant, and it represents a positive development for the company." Sona aims to bring its permitted Blackdome mill back into production over the next year and a half, at a rate of 200 tonnes per day, with feed from the formerly producing Blackdome mine and the nearby Elizabeth gold deposit property. A positive preliminary economic assessment by Micon International Ltd., based on a gold price of $950 per ounce over eight years, has estimated a cash cost of $208 per tonne milled, or $686 per gold ounce recovered. For the company's complete press release, please visit: http://www.sonaresources.com/_resources/news/SONA_NR18_2011-opt.pdf BNDES, Brazil's development bank with a loan book about four times the size of that of the World Bank, and South Africa's finance ministry said they expected a master agreement to be signed in New Delhi that would include the lending pledge, with details to be ironed out during a summit. "We will discuss the creation of structures and mechanisms for lending in local currencies in order to maximise economic and financial transactions between the countries that are members of the accord," BNDES said. CDB declined to comment. Other signatories will include Russia's Vnesheconombank, Export-Import Bank of India and the Development Bank of Southern Africa. Representatives of the five nations called for a broader-based international currency system in a communique issued after a meeting in China in April. While the US dollar has recently strengthened, many governments believe it will weaken over the longer term and want alternatives, other than the tarnished euro, to use for trade and investment. CDB recently extended a $30 billion loan to Petroleos de Venezuela, the state company, half of which will be repaid in oil. 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 Platinum (TSXV: NKL) and Ursa Major Minerals Company Press Release VANCOUVER, British Columbia, Canada -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) and Ursa Major Minerals Inc. have signed a binding letter of agreement for a business combination through a proposed all-share transaction. In doing so Prophecy and Ursa have acted at arm's length and the transaction has been negotiated at arm's length. Prophecy will issue one common share in exchange for every 25 outstanding common shares of Ursa. Ursa options and warrants will be exchanged for options and warrants of Prophecy on an agreed schedule. Prophecy's offer represents a value of about $0.15 per each common share of Ursa based on Prophecy's share price of $3.70 as at March 1, representing a premium of 130 percent to Ursa's March 1 closing price of $0.065. Prophecy is to subscribe for $1 million common shares of Ursa by way of private placement financing at $0.06 per share, subject to regulatory approval. Upon placement completion, John Lee and Greg Hall, current Prophecy directors, will be appointed to Ursa's board. Prophecy thus will become a mid-tier resource company with a robust and -- The fully permitted open-pit Shakespeare PGM-Ni-Cu mine close to Sudbury, Ontario, infrastructure with near-term production capabilities. -- The flagship Wellgreen (Yukon) PGM-Ni-Cu project with more than 10 million ounces of Pt-Pd-Au inferred resource. Drilling is under way and a preliminary economic assessment study is pending. -- Manitoba's Lynn Lake Ni-Cu project with more than 262 million pounds Ni and 138 million pounds Cu measured and indicated. For the complete announcement, please visit Prophecy Platinum's Internet site here: http://www.prophecyplat.com/news_2012_mar02_prophecy_platinum_ursa_major...
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| Agitation in Switzerland and Germany to bring their gold home from U.S. Posted: 07 Mar 2012 03:31 PM PST 11:30p ET Wednesday, March 7, 2012 Dear Friend of GATA and Gold: Looks like suspicions about central bank gold policies are spreading, as Zero Hedge reports tonight about agitation in Switzerland and Germany to repatriate their national gold reserves from the United States: http://www.zerohedge.com/news/switzerland-wants-its-gold-back-new-york-f... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Prophecy Platinum (TSXV: NKL) and Ursa Major Minerals Company Press Release VANCOUVER, British Columbia, Canada -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) and Ursa Major Minerals Inc. have signed a binding letter of agreement for a business combination through a proposed all-share transaction. In doing so Prophecy and Ursa have acted at arm's length and the transaction has been negotiated at arm's length. Prophecy will issue one common share in exchange for every 25 outstanding common shares of Ursa. Ursa options and warrants will be exchanged for options and warrants of Prophecy on an agreed schedule. Prophecy's offer represents a value of about $0.15 per each common share of Ursa based on Prophecy's share price of $3.70 as at March 1, representing a premium of 130 percent to Ursa's March 1 closing price of $0.065. Prophecy is to subscribe for $1 million common shares of Ursa by way of private placement financing at $0.06 per share, subject to regulatory approval. Upon placement completion, John Lee and Greg Hall, current Prophecy directors, will be appointed to Ursa's board. Prophecy thus will become a mid-tier resource company with a robust and -- The fully permitted open-pit Shakespeare PGM-Ni-Cu mine close to Sudbury, Ontario, infrastructure with near-term production capabilities. -- The flagship Wellgreen (Yukon) PGM-Ni-Cu project with more than 10 million ounces of Pt-Pd-Au inferred resource. Drilling is under way and a preliminary economic assessment study is pending. -- Manitoba's Lynn Lake Ni-Cu project with more than 262 million pounds Ni and 138 million pounds Cu measured and indicated. For the complete announcement, please visit Prophecy Platinum's Internet site here: http://www.prophecyplat.com/news_2012_mar02_prophecy_platinum_ursa_major... 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 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
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| Posted: 07 Mar 2012 03:22 PM PST courtesy of DailyFX.com March 07, 2012 02:51 PM Daily Bars Prepared by Jamie Saettele, CMT Gold has held the 200 day average (closing basis) and yesterday’s low is right at the November low (inverse head and shoulders?). I’ve no confidence in the larger pattern but will note that gold has traded in roughly a $300 range since September (if you must trade gold, then play the range) and that intramonth seasonality favors the downside against the first day of the month high (1730). Near term resistance extends to the mid 1690s. Bottom Line (next 5 days) – ?...
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| Save Time: Read These Latest (and Best) Financial Article Summaries Posted: 07 Mar 2012 03:22 PM PST *Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com – A site for sore eyes and inquisitive minds -*surfs the net each and every day searching for the most informative articles that have been posted that day. Those that are particularly insightful and well written are then edited for the sake of clarity and brevity to ensure a fast and easy read. Introductory paragraphs are posted on said site*with a link to www.munKNEE.com where edited excerpts of the original article*are posted. Below are*yesterdays articles for your enjoyment. Either just read the opening paragraph or click on the title to read the complete*article.*Words: 583 Today’s Top Articles March 07, 2012“The following articles have just been posted due to their exceptionally informative content and were edited, abridged and reformatted, where necessary, to provide you with a fast and easy read. Enjoy!”Alf Field: As Predicted Gold Has Retested $1,685! Could Drop to $1,650 Before Continui...
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| 51 Analysts: Gold Price to Average $5,500 ? $6,500/ozt. in 2015! Posted: 07 Mar 2012 03:22 PM PST [B][B][B][/B][/B][/B][B][B][B][B][/B][/B][/B][/B] [B][B][B][B]Lately analyst after analyst (161 at last count) has been climbing on board*the golden wagon with prognostications as to what the parabolic peak price for gold will eventually be. That being said, however,*only 51 have been bold enough to include the year*in which they think*their peak price estimate*will occur and they are listed below. [/B][/B][/B][/B][B][B][B][B]Take a look at who is projecting what, by when and why. [/B][/B][/B][/B]Words: 644 Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!) and www.FinancialArticleSummariesToday.com (A site for sore eyes and inquisitive minds) has identified below the analysts by name with their price projections and time frame. Please note that this complete paragraph, and a link back to the original article*, must be included in any article posting or re-posting to avoid copyright infringement. 8*Analysts See Gold Reaching Peak Price*by the end of*2012 [*][B]P...
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| Switzerland Wants It's Barbaric Relics Back Posted: 07 Mar 2012 02:37 PM PST Seems first Germany and now Switzerland want there gold back. I remember Jim Sinclair state ing the Venezuela may have been the smart ones in getting there gold back first and we'd see more of this. It's interesting that everyone wants the rest of us to use paper money but countries want the real money under their control. See link here.
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| Posted: 07 Mar 2012 02:27 PM PST Savvy Financier, founder of Global Resource Investments and now part of Sprott Global, Rick Rule tells BNN's Andy Bell that big down days are "wonderful days" from the buyer's point of view. We loved Rule's talk about China in Part 1. In Part 2 Rule talks about some of the companies he owns. Rick answers calls and emails about specific companies in Part 3 and gives more specific recommendations in the final segment, including Altius, Eruasian and Lydian International. Well worth our time. Our complements to Andrew Bell for conducting a valuable interview with one of the industry's best. (From Tuesday, March 6.) Source: BNN.ca Part 1. http://watch.bnn.ca/market-call/march-2012/market-call-march-6-2012/#clip632693 Part 2. http://watch.bnn.ca/market-call/march-2012/market-call-march-6-2012/#clip632694 Part 3. http://watch.bnn.ca/market-call/march-2012/market-call-march-6-2012/#clip632696 Part 4. http://watch.bnn.ca/market-call/march-2012/market-call-march-6-2012/#clip632697 Worthy of sharing. Please use this special link to share:
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| Guest Post: The IPCC May Have Outlived its Usefulness - An Interview with Judith Curry Posted: 07 Mar 2012 02:21 PM PST Submitted by James Stafford of OilPrice.com The IPCC May Have Outlived its Usefulness - An Interview with Judith Curry As the global warming debate increases in its intensity we find both sides deeply entrenched, hurling accusations and lies at one another in an attempt to gain the upper hand. This divide within the scientific community has left the public wondering who can be trusted to provide them with accurate information and answers. The IPCC, the onetime unquestioned champion of climate change, has had its credibility questioned over the years, firstly with the climategate scandal, then with a number of high profile resignations, and now with the new "Gleickgate" scandal (1) (2) – One has to wonder where climate science goes from here? Judith is the current chair of the School of Earth and Atmospheric Sciences at the Georgia Institute of Technology and hosts sensible discussions on climate change at her popular blog Climate, etc. Considered somewhat of a black sheep within the scientific community Judith was a one time supporter of the IPCC until she started to find herself disagreeing with certain policies and methods of the organization. She feared the combination of groupthink and political advocacy, combined with an ingrained "noble cause syndrome" stifled scientific debate, slowed down scientific progress, and corrupted the assessment process. JC: The climate is always changing. Climate is currently changing because of a combination of natural and human induced effects. The natural effects include variations of the sun, volcanic eruptions, and oscillations of the ocean. The human induced effects include the greenhouse gases such as carbon dioxide, pollution aerosols, and land use changes. The key scientific issue is determining how much of the climate change is associated with humans. This is not a simple thing to determine. The most recent IPCC assessment report states: "Most [50%] of the warming in the latter half of the 20th century is very likely [>90%] due to the observed increase in greenhouse gas concentrations." There is certainly some contribution from the greenhouse gases, but whether it is currently a dominant factor or will be a dominant factor in the next century, is a topic under active debate, and I don't think the high confidence level [>90%] is warranted given the uncertainties. As I stated in my testimony last year: "Based upon the background knowledge that we have, the threat does not seem to be an existential one on the time scale of the 21st century, even in its most alarming incarnation." OP: You have said in the past that you were troubled by the lack of cooperation between organizations studying climate change, and that you want to see more transparency with the data collected. How do you suggest we encourage/force transparency and collaboration? JC: We are seeing some positive steps in this regard. Government agencies that fund climate research are working to develop better databases. Perhaps of greatest interest is the effort being undertaken by the Berkeley Earth Surface Temperature project, which is a (mostly) privately funded effort to compile and document a new data base on surface temperatures, in a completely open and transparent way. OP. Do you feel climatologists should be putting more effort into determining the effect of the sun on our climate? As the IPCC primarily focuses on CO2 as the cause of climate change – Is the importance of CO2 overestimated and the importance of the sun is underestimated? JC: I absolutely think that more effort is needed in determining the effect of the sun on our climate. The sun is receiving increased attention (and funding), and there is a lively debate underway on interpreting the recent satellite data record, reconstructing past solar variability, and predicting the solar variability over the 21st century. Nearly all of the solar scientists are predicting some solar cooling in the next century, but the magnitude of the possible or likely cooling is hotly debated and highly uncertain. OP: You are well known in climate and energy circles for breaking from the ranks of the IPCC and questioning the current information out there. What do you see as the reasons for the increase in skepticism towards global warming over the last few years. JC: Because of the IPCC and its consensus seeking process, the rewards for scientists have been mostly in embellishing the consensus, and this includes government funding. Because of recent criticisms of the IPCC and a growing understanding that the climate system is not easily understood, an increasing number of scientists are becoming emboldened to challenge some of the basic conclusions of the IPCC, and I think this is a healthy thing for the science. OP. What are your views on the idea that CO2 may not be a significant contributor to climate change? How do you think such a revelation, if true, will affect the world economy, and possibly shatter public confidence in scientific institutions that have said we must reduce CO2 emissions in order to save the planet? JC: Personally, I think we put the CO2 stabilization policy 'cart' way before the scientific horse. The UN treaty on dangerous climate change in 1992 was formulated and signed before we even had 'discernible' evidence of warming induced by CO2, as reported in 1995 by the IPCC second assessment report. As a result of this, we have only been considering one policy option (CO2 stabilization), which in my opinion is not a robust policy option given the uncertainties in how much climate is changing in response to CO2. OP. There has been quite a bit of talk recently on geo-engineering with entrepreneurs such as Bill Gates and Richard Branson pushing for a "plan B" which utilizes geo-engineering to manipulate the environment in order to cool the atmosphere. JC: With regards to geo-engineering, there are two major concerns. The first is whether the technologies will actually work, in terms of having the anticipated impact on the climate. The second is the possibility of unintended consequences of the geoengineering. OP. You have been noted to criticize the IPCC quite openly in the past on several topics. JC: The IPCC might have outlived its usefulness. Lets see what the next assessment report comes up with. But we are getting diminishing returns from these assessments, and they take up an enormous amount of scientists' time. OP. Would renewable energy technologies have received the massive amounts of funding we have seen over the last few years without global warming concerns? JC: I think there are other issues that are driving the interest and funding in renewables, including clean air and energy security issues and economics, but I agree that global warming concerns have probably provided a big boost. OP. What do you believe are the best solutions to overcoming/reversing climate change; is a common consensus needed in order to effectively combat climate change? JC: The UN approach of seeking a global consensus on the science to support an international treaty on CO2 stabilization simply hasn't worked, for a variety of reasons. There are a range of possible policy options, and we need to have a real discussion that looks at the costs, benefits and unintended consequences of each. Successful solutions are more likely to be regional in nature than global. OP. I saw an interesting comment on another site regarding climate science that i thought i'd get your opinion on as it raises some very interesting arguments: JC: I agree that there is lack of accountability in the whole climate enterprise, and it does not meet the standards that you would find in engineering or regulatory science. I have argued that this needs to change, by implementing data quality and model verification and validation standards. OP: Do you believe that the language used in papers and at conferences is a problem? The public just wants straight answers to questions: Is the climate warming, By how much, and what will the effects be? Scientists need to step out from behind the curtain and engage the public with straight answers and in their own words. Is this achievable, or is climate science too complex to be explained in laymen's terms? Or is it because even climate scientists can't agree on the exact answers? JC: I think the biggest failure in communicating climate science to the public has been the reliance on argument from consensus. We haven't done a good job of explaining all this, particularly in the context of the scientific disagreement OP: What resources would you recommend to people who wish to get a balanced and objective view on climate science and climate change. JC: There is no simple way to get a balanced and objective view, since there are so many different perspectives. I think my blog Climate Etc. at judithcurry.com is a good forum for getting a sense of these different perspectives. Thank you Judith for taking the time to speak to us. For those who wish to engage in balanced discussion on climate related issues we recommend you visit Judith's blog Climate etc
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| Revisiting the Gold Bugs Index Posted: 07 Mar 2012 01:48 PM PST From Slope of Hope...... Below is the broad view of index symbol $HUI, which shows how the analog has strengthened recently. The key, of course, is to break beneath that lower horizontal line. If we can do that, life gets interesting in a big hurry.
Looking closer, you can see the important event that happened on Monday: we broke that ascending trendline. On Tuesday, we gapped down, creating a nice window at 508.92
As a final thought, here is the price chart.........without the prices. This just shows a standard trio of simple moving averages and points out where I believe we are relative to the prior analogous timeframe.
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| Why U.S. Gov’t Confiscated Gold in 1933. Can it Happen Again? Part 2 Posted: 07 Mar 2012 01:00 PM PST We previously stated that gold ownership was made illegal on 1st May 1933. What we did not tell you was that U.S. citizens, under Order 6102, were allowed to own up to $100 in gold coin [+5 ounces]. Today that would be worth under $8,400, a mere token gesture to real gold owners. It acted as a tiny escape valve to the general body of citizens and did not detract from the fact that effective gold ownership was abolished.
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| Gold 'fundamentally cheap' as measure of money supply, Brodsky tells KWN Posted: 07 Mar 2012 12:34 PM PST 8:32p ET Wednesday, March 7, 2012 Dear Friend of GATA and Gold: Fund manager Paul Brodsky tonight tells King World News that gold remains "fundamentally cheap" as a measure of the world money supply. Of course to GATA the questions are whether central banks ever again will let gold be perceived as such a measure and whether gold investors will ever figure out that gold is "fundamentally cheap" because most of what they think is their gold is just paper. An excerpt from the interview with Brodsky is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/3/7_Bro... 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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| Posted: 07 Mar 2012 12:06 PM PST Jim Sinclair's Commentary Trust me, the US dollar is cooked. The economic war is on, and the dollar lacks effective defenses. Dollar utilization is under a massive artillery attack. You need only eyes to see. You must read non US media to get the real news. This is becoming almost a daily event. China Continue reading In The News Today
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| German Bundesbank’s “Incredible Gold Scandal” Posted: 07 Mar 2012 11:30 AM PST "The incredible gold scandal," the German newspaper BILD began its article about the disposition of Germany's mysterious gold holdings following the collapse of Lehman Brothers in 2009. Growing pressure from the German people and politicians exerted upon its central bank, the Bundesbank, to audit the nation's gold reserves intensifies, running parallel with escalating anxieties felt by German taxpayers for more than two years leading up to Greece's to-big-to-pay $18 billion interest payment deadline of March 20, 2012. Sign-up for my 100% FREE Alerts Everyone knows that Greece doesn't have the money, and the big money has bet that Greece will have to officially default on the 20th, as evidenced by the one-year Greek bill, which topped 1,100 percent this week. Hedge fund managers have spoken: Greece is done with the euro. Now it becomes a scramble for the gold. Considering the ominous Greek sovereign debt backdrop, a suspicious Germany now wants to know where its gold is stored, as the last audit made in 2007 clearly indicates that the Bundesbank skipped its 2010 audit. Just as pressure has been applied on the Fed by U.S .Rep. Ron Paul to agree to an audit of U.S. Treasury gold held at Ft. Knox and West Point, Germany may have to break the rules, too, by stonewalling the country's elected representatives on the matter of its gold reserves. "A clear breach of the law," top Bilanzrechtler Prof. Jörg Baetge told BILD. "At least every three years to control counts the bars are made. [Google translation]" When Germany's controversial member of the Bundestag, Phillip Missfelder, inquired into the reason for the missed audit by the Bundesbank, the 32-year-old chairman of the Junge Union received a series of Fed-like responses from Germany's central bank. "I was shocked," Missfelder told BILD. "First they said that there was no list. Then there were lists that are secret. Then I was told, demands endanger the trust between alliance bank and the Fed. [Google translation]" A skipped audit, and now, peculiar responses from one of the most respected central banks, regarding the world's second-largest sovereign gold stockpile (after the United States) has gold bugs wondering if German gold has been essentially held hostage at the NY Fed to prevent another explosive run in the gold price.
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| Posted: 07 Mar 2012 11:29 AM PST by Andy Hoffman, MilesFranklin.com:
Swap – an arrangement in which two entities lend to each other on different terms, e.g., in different currencies, and/or at different interest rates, fixed or floating. Boy, that sounds innocuous, another name for a simple trade. Unfortunately, the truth is far different, as the "swap" is Wall Street's euphemism for the deadly derivatives that have devastated the global economy, shortly to annihilate it for good. When I completed my Finance degree in 1992, I had not yet heard the word "swap," and for my final CFA exam in 1998, I wasn't required to learn anything more cursory than the definition above. Even when I left Wall Street in 2005, I doubt the Series 7 exam incorporated much more than a "swap = fixed for floating exchange" question, which should show you how under-the-radar the growth of derivatives was until Global Meltdown I in 2008. By the way – the Series 7 is the biggest joke of an exam on Earth, a government-administered test with absolutely ZERO practical application.
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| Labor Market Shows More Signs of Life Posted: 07 Mar 2012 11:27 AM PST Companies increased their hiring in February, shoring up expectations that the labor market's recovery has moved into a higher gear. Separate data on Wednesday showed wages grew much more quickly at the end of last year than originally estimated, good news for consumers, but a potential inflation problem for the Federal Reserve. The private sector added 216,000 jobs last month, according to the ADP National Employment Report, topping economists' expectations for a gain of 208,000. The ADP figures come ahead of the government's more comprehensive monthly labor market report on Friday, which includes both public- and private-sector employment. "After two years of expansion without much gain in employment, we're finally hitting the point where firms need to begin adding people in order to meet increased orders," said Steve Blitz, senior economist at ITG Investment Research in New York. "There are still risks ahead, but if you could just stop the clock right where we are now, you've got a recovery that is gathering some momentum; it appears to be self-reinforcing." Economists polled by Reuters expect Friday's report to show a gain of 210,000 in nonfarm payrolls, with a gain in the private sector of 225,000 jobs offsetting a modest decline in government jobs. Economists often refer to the ADP report to fine-tune their expectations for the payrolls numbers, though it is not always accurate in predicting the outcome. Daniel Silver, an economist at JPMorgan, noted that in the month of February in recent years, the difference between the two reports has been smaller and missed only by 2,000 in 2010 and 5,000 in 2011.
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| Jim Rogers: The Government Is Lying About Inflation And It's Crushing The Consumer Posted: 07 Mar 2012 11:25 AM PST Business Insider recently spoke with commodities guru Jim Rogers about oil prices, gold, and the global economy. He also shared with us what life is like in Singapore. What is feeding into oil prices at the moment? Iran obviously, is one thing, but another is in the U.S. it's the infrastructure problem. We have oil but it's in the wrong places. On the east coast, they use imported oil, and imported oil is higher because of Iran. And it comes from Europe. North Sea production is in decline. There are supply-demand reasons that oil prices are high in many parts of the world. And known reserves of oil are in decline worldwide. And the IEA is going around telling people that known reserves are in a steady decline and we're going to have a huge problem in a decade or two, a gigantic problem, unless somebody finds a lot of oil very quickly. So underneath the supply-demand, shorter term it's infrastructure and Iran probably. At what level do you think oil prices will break the back of the American recovery? We are going to have a slowdown. Such is the staggering debt that America has, it has caused more and more of a drag on our economy. I would also point out to you that every four to six years we've had an economic slowdown in the U.S., since the beginning of time, so by 2012, 2013, 2014, we are well overdue for an economic slowdown for whatever reason. Whether it's caused by high oil or what, we're going to have a slowdown in the foreseeable future.
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| Posted: 07 Mar 2012 11:23 AM PST The following is automatically syndicated from Grandich's blog. You can view the original post here. Stay up to date on his model portfolio! March 07, 2012 02:23 PM Listen [url]http://www.grandich.com/[/url] grandich.com...
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| Posted: 07 Mar 2012 11:23 AM PST from CapitalAccount: Welcome to Capital Account. Super Tuesday came and went, and if anything it seems more like a super letdown. As the economy dominates the agenda this election year, voters have failed to flock to the one candidate who actually has a long-term view and addresses concerns of sound money and monetary policy, and represents a shift from the status quo. Why? Are voters stupid? Does "the public suck" as George Carlin famously said? We find it hard to believe that Americans, after years of being fooled and lied to by politicians, dragged to war on false intelligence, forced to hand over their savings so bankers like Jamie Dimon and Lloyd Blankfein could continue to make millions of dollars hand over fist are still willing to get up off their butts and go vote for another batch of politicians who plan on doing THE EXACT SAME THING. Insanity by definition…we ask our guest Dr. Paul Craig Roberts what he though about yesterday's "democratic" outcome and what he thinks this says not just about the candidates, but about the public. Meanwhile, Germany does seem to be taking a cue from one republican presidential hopeful — Ron Paul — who has long called for an audit of the US's gold reserves. The Bundesbank is reportedly reviewing its gold reserves. Are they taking stock in case of a eurozone collapse? Anyone who has read Jim Rickards' "Currency Wars," knows very well that if things escalate dramatically gold may be a country's only salvation from total currency collapse. The Germans may finally be catching on to this reality, and stocking up for that rainy day… And, yesterday we told you about the computer jeopardy champion, Watson, going to work on Wall Street. Well, UBS head floor trader Art Cashin is talking about artificial intelligence (A.I.) saying machines may explain some unusual financial market behavior going on. We'll debate where this is headed. Demetri has some interesting theories about the potential for this to become another sky net judgment day, only this time instead of the machines taking over the military and destroying the world through nuclear war, they will destroy mankind through the financial markets.
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| Switzerland Wants Its Gold Back From The New York Fed Posted: 07 Mar 2012 11:20 AM PST from ZeroHedge:
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| Posted: 07 Mar 2012 11:18 AM PST from The Financial Survival Network:
Like putting the toothpaste back in the tube, the thought that somehow the Fed can print money, use it to monetize debt, and then stop the recipients of the new money from spending it is somewhat absurd. This hasn't worked before, and it won't work now. So sit back, buckle your seatbelt and enjoy the flight into the tumultuous financial skies. It's going to get quite turbulent, but having gold and silver might very well make the ride smoother. Click Here to Listen to the Podcast
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| Posted: 07 Mar 2012 11:10 AM PST by Harvey Organ: Good morning Ladies and Gentlemen: The price of gold rose today with news that the USA was sending out feelers that they would engage in QEIII. However the purchases would be sterilized in the same manner as the "twist" by buying longer term mortgage based assets from the banks with electronic credits and somehow these dollars are borrowed back in 28 days. Supposedly this would not increase the balance sheet of the Fed, as the Fed is putting "credits" which can be used by the banks and in the process taking on more mortgaged based junk on their books. The FED's balance sheet remains neutral except that billions of electronic credits have been released to the banks. It seems too far fetched to me. I will bring to you three authors who believe this is nothing but fairy tales, Jim Sinclair, Dave from Denver and Graham Summers: Read More @ HarveyOrgan.Blogspot.com
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| Paul Brodsky: US Money Base Will Explode to $15 – $17 Trillion Posted: 07 Mar 2012 11:07 AM PST from King World News:
Paul Brodsky continues: Read More @ KingWorldNews.com
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Earlier today, 
Mish Shedlock and I had a big laugh at the Fed's expense today. They announced they might buy bonds differently, printing up money out of thin air, and then sterilizing the proceeds of their bond purchases to prevent inflation from taking hold. However, this is pure folly. If their intention is to give business lending a jump-start, it will have the opposite effect because many businesses looking to borrow are not credit worthy. Those that are credit worthy aren't interested in borrowing since they have no profitable avenues in which to invest it.
With tremendous volatility in gold and silver, today KWN wanted to speak with the firm that is calling for $10,000 gold to get their take on what readers should be focused on at this point. Paul Brodsky, who co-founded QB Asset Management Company, had this to say about his firm's strategy and where he sees things headed: "The macroeconomics behind gold have never been more attractive. When we look at bank assets versus base money, across the world, it makes sense that they (precious metals) are fundamentally cheap."| 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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