Gold World News Flash |
- How to Increase your number of Silver Ounces by trading the physical
- Silver is without at doubt the most important metal in the world
- Jim Sinclair To Speak At CMRE Dinner In New York On May 17
- Long-term Silver Chart Analysis Indicates Why Silver Is Likely To Pass $150
- Silver Sell-Off, Naked Shorting & Paper vs. Physical Interview
- AGXIIK: Silver Will Be in a Severe Supply Shortage by August 2012
- Is Germany Actually Preparing To Leave The Euro?
- Silver Could Fall Below $26?
- John Williams: Intensifying Crisis & Staggering Unemployment
- Clarification on the Recent King World News Interview
- Please help us get support from mining companies and World Gold Council
- A Look Back at the Performance of Gold vs. Stocks in Times of Crisis
- Got Gold Report: Short covering in play
- Silver Price Forecast: Long-term Silver Chart Analysis Indicates Why Silver Is Likely To Pass $150
- Silver Will Be in a Severe Supply Shortage by August 2012
- Got Gold Report – Short Covering in Play
- Robert Mish: Front-Line Evidence That We Are Nowhere Near a Gold Bubble
- John Williams - Intensifying Crisis & Staggering Unemployment
- Investors plump up their holdings as gold continues its surge upwards
- The Face of Gold and Silver Price Volatility
- “It may even show unhealthy masochistic tendencies, which might need medical attention.”
- Physical Gold and Gold Stocks Should be in Your Portfolio ? Here?s Why
- Guest Post: An Open Letter to Jamie Dimon
- The Failed Great Depression
- Sunday Caption Contest - Quantum Bailout Edition
- International Forecaster March 2012 (#3) - Gold, Silver, Economy + More
- Gold now defends not just liberty but simple reality
| How to Increase your number of Silver Ounces by trading the physical Posted: 11 Mar 2012 07:00 PM PDT Charleston Voice
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| Silver is without at doubt the most important metal in the world Posted: 11 Mar 2012 05:28 PM PDT You Can't Beat Silver as an Investment
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| Jim Sinclair To Speak At CMRE Dinner In New York On May 17 Posted: 11 Mar 2012 04:55 PM PDT Dear Friend of GATA and Gold: North America's if not the world's leading gold advocate — trader and mining entrepreneur Jim Sinclair — will speak at the spring dinner meeting of the Committee for Monetary Research and Education on Thursday, May 17, in New York City. Sinclair, whose appearance at GATA's Gold Rush 2011 Continue reading Jim Sinclair To Speak At CMRE Dinner In New York On May 17
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| Long-term Silver Chart Analysis Indicates Why Silver Is Likely To Pass $150 Posted: 11 Mar 2012 01:51 PM PDT Currently, the movement from 4 to the $49 in April of 2011 is only about 1.65 times larger than the movement from point 1 to 2. If it follows the first pattern, and grows at least 7.6 times greater, it will comfortably pass $150. Read More...
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| Silver Sell-Off, Naked Shorting & Paper vs. Physical Interview Posted: 11 Mar 2012 01:02 PM PDT |
| AGXIIK: Silver Will Be in a Severe Supply Shortage by August 2012 Posted: 11 Mar 2012 12:22 PM PDT from Silver Doctors:
Why? Greek sort of got bailed out, leaving the price of silver to float upwards as opposed to downward should central banks and private owners need to dump PMs to get liquidity. Absorption of silver continues apace with speculative and aggressive longs outnumbering shorts two to one.
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| Is Germany Actually Preparing To Leave The Euro? Posted: 11 Mar 2012 12:12 PM PDT from The Economic Collapse Blog:
Read More @ TheEconomicCollapseBlog.com
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| Posted: 11 Mar 2012 11:59 AM PDT [Ed. Note: Uh oh. Last time SilverFuturist warned of a dip, a dip we got. Here he goes again.... (and where else does the news come with chickens?)] from SilverFuturist:
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| John Williams: Intensifying Crisis & Staggering Unemployment Posted: 11 Mar 2012 11:49 AM PDT from King World News:
John Williams continues: Read More @ KingWorldNews.com
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| Clarification on the Recent King World News Interview Posted: 11 Mar 2012 11:47 AM PDT by Jim Sinclair, JSMineset.com:
In my interview with Eric King, I was asked what Bert would do in the middle of the conflicting information concerning the ISDA and the size of the situation. My answer was to go flat. You need to recall he was not an off the floor trader, but a market maker type specialist since the time he sat in the window of a gin mill hand signaling his partner trading on the outdoor Curb Exchange which became the American Stock Exchange. He was a businessman and not a gambler. When there was no clear definition of an event he would not accept risk. That does NOT mean sell gold. In fact Bert held his core personal physical gold position taken in 1968 all the way until 1980. He never sold an ounce of his core position. If he was long or short something was more a matter of what time of day it was since he would be on the right side of his markets, whatever they did. The man traded like a master painted. I am ok, but I do not have his talent. It was rare and unique. It was more an art than a science. He was a born merchant. Bert, when he retired, lived in Lugano, Switzerland and was a Swiss citizen. He was a guest of the UBS trading department, and spent his retirement trading still. UBS then was the true conservative Swiss banking institution of the grand old tradition. Bert also spoke the language. One of the nine times he fired me, I asked him why. His answer was simple. He said; "We are in business to make money, not to lose it." It is hard to argue with that. Yes, we drove home together in silence, and ate dinner the same way. Mother was the peace maker. Add to this Mom was an Irish chef. It is no wonder why I still have acid reflux. Original Source @ JSMineset.com
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| Please help us get support from mining companies and World Gold Council Posted: 11 Mar 2012 11:12 AM PDT 7:17p ET Sunday, March 11, 2012 Dear Friend of GATA and Gold (and Silver): Now that even some gold fund managers and newsletter writers have started to get suspicious about surreptitious intervention in the gold market by central banks -- http://www.gata.org/node/11045 http://www.gata.org/node/11052 http://www.gata.org/node/11058 -- maybe it's time to try again to get the support of mainstream gold and silver mining companies. Yes, these companies are especially vulnerable if they start complaining about suppression of precious metals prices. Governments, the instigators of the price suppression, control mining licenses, royalty payment requirements, and enforcement of environmental regulations. And as mining is the most capital-intensive business, miners usually need financing by the biggest investment banks, the agents of central banks that implement the price suppression scheme. ... Dispatch continues below ... 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 But there's no point in cowering from governments and investment banks if you're going to be destroyed anyway, and governments and investment banks are not invincible. The price suppression schemes are surreptitious for a reason -- that is, they succeed only through deception of the markets. They can't succeed in the open, for when markets are exposed as rigged, people won't trade there anymore. The growing realization of market rigging explains the worldwide trends toward acquisition of real gold vaulted outside the Western banking system and toward development of trade-settlement mechanisms that avoid the U.S. dollar. Your secretary/treasurer may do well enough with the functions of the first half of his job but he's not terribly skilled with the functions of the second half insofar as they include fund-raising. So may we ask for your help again? A few mining companies -- mostly smaller exploration companies -- and a few investment houses have bravely supported GATA over the years but we shouldn't be hitting them up as often as we do. We should be seeking the support of other mining companies and investment houses, and they might consider helping if they heard from their own shareholders and investors. So if you own shares of stock in precious metals mining companies or invest in the precious metals via a mutual fund, hedge fund, or other investment house, please write to their investor relations office and urge them to consider supporting GATA. You could tell them that GATA has pretty thoroughly exposed, documented, and litigated against the gold and silver price suppression schemes, that you've found GATA's work valuable, that we need and deserve financial assistance, that more information is available from me at CPowell@GATA.org, and that we're happy to make presentations about our work. Please write especially if you're invested in any mining company that is a member of the World Gold Council -- http://www.gold.org/about_us/members/ -- as, unfortunately, the council long has declined to get involved with the issue of gold price suppression, though no issue is more important to the gold mining industry. You also could write to the council at info@gold.org and urge it too to start supporting GATA financially. Painful as it was for precious metals investors, the recent smashdown in the gold and silver markets, so incongruous and counterintuitive, so obviously intended only to knock prices down at a strategic moment for the world financial system rather than to maximize profits on a long position (see the comments by Ross Norman of Sharps Pixley at http://www.gata.org/node/11054), may have been a Pyrrhic victory for the central banks. For it gave their game away. As always it's for GATA to spread the word. We have plans for that, including speaking roles at conferences in Asia and more litigation here in the United States. We'll make the most of whatever help you can give us, either by contacting mining companies and the World Gold Council or by donating to us directly as described here: CHRIS POWELL, Secretary/Treasurer 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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| A Look Back at the Performance of Gold vs. Stocks in Times of Crisis Posted: 11 Mar 2012 11:12 AM PDT We are in the midst of turbulent times, and it seems inevitable that things can only get worse.*Most investors are of the opinion that gold is one of a very few areas of safety…however, when we look at historical charts, it is obvious that gold doesn’t always behave in the way we would expect. [Let me explain.] Words: 541 So says Carl Swenlin ([url]www.decisionpoint.com[/url]) in edited excerpts from his original article* which Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!), has edited further 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.) Swenlin*goes on to say, in part: Performance of S&P 500*and Gold During Gulf War As we can see [in the chart below], stocks behaved in a predictable way — crashing when Iraq invaded Kuwait in August, then rallying within hours of the initial bombing in January, when it becam...
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| Got Gold Report: Short covering in play Posted: 11 Mar 2012 10:42 AM PDT 6:40p ET Sunday, March 11, 2012 Dear Friend of GATA and Gold: Part of Gene Arensberg's latest Got Gold Report is posted in the clear tonight and it details the short covering of the major commercial traders in gold and silver. It's headlined "Short Covering in Play" and it's posted at the GGR site here: http://www.gotgoldreport.com/2012/03/got-gold-report-short-covering-in-p... 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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| Silver Price Forecast: Long-term Silver Chart Analysis Indicates Why Silver Is Likely To Pass $150 Posted: 11 Mar 2012 10:24 AM PDT by Hubert Moolman: I would like to point out some interesting signals on the long-term chart for silver. Below, is a long term chart for silver:
On the chart, I have highlighted two fractals (or patterns), marked 1 to 4, which appear similar. What makes these two fractals so special is the similarity of the circumstances in which they exist. There was a significant peak in the Dow (1973 and 2007) between point 1 and 2 of both fractals. Both peaks in the Dow came about 7 years after the peak in the Dow/Gold ratio. After point 2, on both fractals, the oil price made a significant peak (1974 and 2008), about 8 years after the peak in the Dow/Gold ratio. Read More @ HubertMoolman.Wordpress.com
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| Silver Will Be in a Severe Supply Shortage by August 2012 Posted: 11 Mar 2012 10:00 AM PDT In another four months I expect that silver supplies to hit crunch time.
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| Got Gold Report – Short Covering in Play Posted: 11 Mar 2012 09:57 AM PDT
HOUSTON (Got Gold Report) – Let's start this somewhat briefer than normal Got Gold Report off where we left off in last week's Vulture Bargain (VB) Update sent to subscribers on Sunday, March 4. In the first part of the subscriber section we said in part: "Let's cut to the chase. Bizarre Wednesday (Feb 29) was not just a Big Seller raid. We think the reason that gold and silver showed harsher downside action than some of the other markets (although many were hit hard) is mostly technical. That's the good news. We have little doubt that the Big Hedgers in the futures markets jumped on the opportunity to give gold and silver a shove in the beginning of the sell-down on Wednesday, but when the dust settles and we can see some of the changes in their positioning next Friday (Mar 9), we can make a reasonable bet that the Big Sellers ended up mostly on the buying side of the so-called "smackdown." We have little doubt they took advantage of the sell down to cover a meaningful portion of their net short positioning." In a word, Bingo! As we commented in a GGR blog post shortly after the COT data was released on Friday: "According to the CFTC COMEX commercial traders reduced their combined collective net short positioning (LCNS) for gold futures by 45,143 contracts or 18.4% to show 200,208 contracts net short. Gold declined $109.85 or 6.2% for the Tuesday to Tuesday period. COMEX commercial traders also very strongly reduced the LCNS for silver futures from 44,953 to 35,796 contracts net short, a reduction of 8,797 lots or 19.7% for the one week reporting period. Silver fell a big $3.99 or 10.8% for the period, closing Tuesday at $32.90. Just over $1.00 of the decline occurred on COT reporting Tuesday. Silver has inched higher each day since then. Apparently "the commercials" took advantage of the very large downdrafts for gold and silver last Tuesday to get the heck out of a meaningful amount of their downside bets for gold and silver futures." Yep, we will attempt to put the comments above into some context for our members a bit later on in this report. Silver Breakout Repelled – For Now Having been stopped out of our silver trade with a $34 handle and a $7.97 the ounce profit on February 29, we Vultures are patiently watching the white metal following a busted attempt to break out of a giant technical flag formation – a formation that has been developing since silver peaked last April near $50. More about that in a moment, but first a tangential trek in our own trading theory, if you will indulge us the time. Finding What Works is the Secret of Trading Over the years we traders develop our own methods in trading. There are as many successful trading methods as there are successful traders (lots of them). Some methods traders end up utilizing can be unorthodox or outside the norm. Even though the unusual methods seem to work, the traders end up not sharing them with colleagues for fear they might be the subject of ridicule – because they might sound quirky or arbitrary. We all may have a few of those, but that is not the subject of this offering. Some successful traders end up repeating a particular kind of trade over and over again – because the setup works – for them (not necessarily for everyone). Success in trading is judged by one and only one yardstick. A successful trade is simply one that makes enough money to be worthy of the time and capital risked. The method used to get there is fair game, so long as it is legal, ethical and repeatable. In our experience some of the best setups are really fairly simple to understand, but not really very glamorous. For instance, a mentor of ours, a phenomenal trader we will call "Ben," was a pure "flag" trader. A "flag" is a contra-trend consolidation in a trending issue. In a day and age when technical traders carried around an actual "book" (a large notebook of graph paper) where they built and kept up their own hand-drawn charts, built from data from an aggravatingly inefficient Quotron machine, old Ben (he seemed old to us when we met him 30-odd years ago) loved to find a particular kind of flag formation on daily or weekly charts. Ben's Flags To be extra clear here, Ben didn't trade just any flag he encountered or drew with his five different mechanical pencils (each with a different thickness of lead); he looked for – no he lived for - a very, very particular kind of flag that he found irresistible. "It's like stealing money from a blind man's cup," old Ben described it. Not that Ben would have ever stolen money from a blind man, it's just an expression. It is beyond the scope of this offering to describe all the thinking, all the variables that went into what we called "Ben's Flags." It would take pages of text, but briefly they were always of relatively short duration, they were always "tight" (meaning not a lot of range between the highs and lows inside the flag); they always followed a meaningful but kind of new advance for the issue (if long) or formed after a meaningful breakdown (if short); and the issues Ben favored usually had plenty of liquidity. By far his favorite flags were the ones that tracked nearly horizontal (perpendicular to the trend or sideways, the least amount of fall the better). Ben made money when we got to know him by setting up a trade inside the horizontal flags, near the bottom of them, with a trading stop usually just 1% underneath the bottom of the flag. If his instinct and timing was right (it wasn't always of course, but it often was), and the issue then went on to break out of the flag to the upside (if long), Ben would watch the eerie orange glow of the ticker intently for an hour or two, or maybe a day or two on weekly charts, and if satisfied that the issue was "acting right" he'd pounce to add to his trade, usually doubling it. Stops are our Friends Of course the next item of business was to raise his stop then to his average cost or at maximum 1% under the basis. If the issue then tracked on higher, like it should, he kept moving his stop up according to a method known only to him, developed over 30-years of (mostly) successful trading – at times leaving lots of room for volatility, but other times running stops so tight they were bound to be tripped on the slightest pullbacks (the "Kill Zone" he called those extra tight stops). Once in a while Ben would add a third time to a trade, if the issue ended up moving into a new, higher flag (if long) or a new lower flag (if short), but Ben was no pyramid trader. What made him successful (enormously so), was that he found something that worked for him – that he got to know very well and understood better than anyone. He became successful with it because he developed confidence and conviction in his approach and he almost never deviated from the script. Perhaps more than anything, the genius of Ben's "method" was that he studied and studied for long periods of time before making his move. If it was a company he became an overnight expert in that company; if a commodity he devoured anything and everything he could lay hands on about it – up to the minute. He spent long periods of time searching his charts and looking for just the right setup before he ever committed a penny of his precious capital to a trade. Instead of trying to trade every day of the year he went for long periods of time out of the market entirely. It was not uncommon for Ben to make just one or two trades a month, but when he did trade he did so confidently and in size. Ben more than anyone taught us the value of using trading stops. He used to say that stops "were his best friends." "They keep me out of trouble and tell me when to go home," he would say. The chart below reminded us of Ben and his flag trading. He probably would have told us several reasons why the chart of copper below was not quite right for his trade, but we'll use it as an example, not having the time to hunt down a better one. The chart is, of course, for copper futures. Note that it recently broke out of a triangular consolidation, moved up to establish a more or less horizontal flag. If old Ben would have tackled this trade he would have tried for an entry as close to the blue arrow as possible, placing a stop close to the red arrow. Then, if copper traded up and broke out of the flag, he'd probably double his stake there and raise the stop to cover his average cost. About then he would say (and please pardon the vernacular this one time), "My nuts are covered, let's rock and roll!" We never really understood what that meant, but he sure did. To this day when we see old Ben's favorite flag formation forming on an issue we are compelled to remember our old friend. And if it is an issue we are confident about, you can bet we will take a shot just as we think he might have. Silver Today Ben trades in the next world, but it is uncanny how many markets we watch today, "seeing" flags, pennants and other consolidation formations forming, and applying some of the lessons we learned from a savvy (and salty) old flag trader. And that brings us back to the silver market. We have been making the case that the small silver market has been forming a giant flag formation, consolidating its April 2011 parabolic pinnacle to near $50 as shown in the chart below. Flags are digestion periods where the market adjusts and gets used to a different level. Old Ben wouldn't have been very interested in the current silver flag setup, because it is way too large in size, but perhaps the takeaway from this tangent about flags is that setting up near the bottom of even an oversize flag example is an effective, low risk strategy we can employ if we are given a second chance at the setup just ahead. Silver's recent breakout attempt of the flag was repelled sure enough, but to tell the truth, for reasons we have already mentioned in the linked subscriber charts, we don't really expect to be given another shot at the bottom of the current oversized flag, but we can never know for sure, can we? Members please refer to the linked charts for more on both gold and silver. With that brief introduction, let's pause here and move directly into the full Got Gold Report. Got Gold Report First things first, the Got Gold Report – the full report – is published ad hoc, as conditions change, usually about biweekly, but at least 18 times per year. Between full GGR reports we communicate more regularly on the GGR web log, which is always free and open to the public, or in our COT Flash reports, via email Special Notes and Vulture Bargain Hunter (VB Updates) reserved exclusively for subscribers. COT Flash reports appear on off weeks for the Got Gold Report when there are what we consider important changes in the commitments of traders reports which cannot wait until the next full report. VB Update offerings appear ad hoc (usually monthly) as there are developments we feel merit comment for and in the resource company issues we track closely. Email Special Notes are used sparingly, but are used to communicate issues we deem important between other offerings. Our aim is to briefly summarize our positioning for the gold and silver markets, and to highlight a few of the dozens of indicators, ratios and graphs we keep in constant touch with. Vultures, after logging in, please see the commentary in our numerous technical charts located in their own section of the password-protected subscriber pages. We update most of the Got Gold Report linked charts each week (some holidays excepted), placing our commentary in dialog boxes in the charts themselves. Changes to the linked charts are almost always completed by 6:00 pm ET on Sunday evening (except when Monday is a holiday) and occasionally during the week as events unfold. To continue reading, please log in or click here to subscribe to a Got Gold Report Membership.
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| Robert Mish: Front-Line Evidence That We Are Nowhere Near a Gold Bubble Posted: 11 Mar 2012 09:52 AM PDT
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| John Williams - Intensifying Crisis & Staggering Unemployment Posted: 11 Mar 2012 09:47 AM PDT  John Williams just warned that the ongoing financial problems have horrendous implications for the markets and systemic stability. Williams, who founded ShadowStats, also noted that U6 unemployment levels are not being reported by the mainstream media and they are at staggering levels. Here is what Williams had to say about the situation: "The outlook for the broad economy remains bleak, despite relatively upbeat February payroll data. Deterioration in the January trade deficit and related revisions suggest negative impact on first-quarter 2012 GDP reporting, along with increasing downside pressure on the U.S. dollar from underlying economic and political fundamentals."
This posting includes an audio/video/photo media file: Download Now |
| Investors plump up their holdings as gold continues its surge upwards Posted: 11 Mar 2012 08:00 AM PDT Goldbugs are feeling their most bullish in months, it seems. 
This posting includes an audio/video/photo media file: Download Now |
| The Face of Gold and Silver Price Volatility Posted: 11 Mar 2012 06:42 AM PDT By: Jeff_Clark Jeff Clark, Casey Research writes: On February 29, gold dropped 4.8% and silver 6.2% (based on London fix prices). That's quite the fall for one day. We've seen prices that have risen that much, too. But as I'm about to show, these ain't nothin', baby. |
| “It may even show unhealthy masochistic tendencies, which might need medical attention.” Posted: 11 Mar 2012 05:27 AM PDT "Not Owning Gold Is A Form of Insanity."
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| Physical Gold and Gold Stocks Should be in Your Portfolio ? Here?s Why Posted: 11 Mar 2012 05:10 AM PDT Do you own enough gold and silver for what lies ahead? If 10% of your total investable assets (i.e., excluding equity in your primary residence) aren’t held in various forms of gold and silver, we…think your portfolio is at risk. Here’s why. Words: 625 So says Jeff Clark ([url]www.caseyresearch.com[/url]) in edited excerpts from his original article* which Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!), has edited further 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.) Clark goes on to say, in part: Most investors fall into one of two categories: those that hold an abundance of gold and silver (which tends to be physical forms only), and those with little or none. While both groups need to diversify, I’m a little more concerned about the second group. Here’s why. Gold’s Value*vs.*the*Dollar ...
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| Guest Post: An Open Letter to Jamie Dimon Posted: 11 Mar 2012 04:40 AM PDT Submitted by James Koutoulas, President, Commodity Customer Coalition and CEO, Typhon Capital Management An Open Letter to Jamie Dimon
Dear Mr. Dimon, I used to be one of your biggest fans. Back when I was 17 years old working at a Salomon Smith Barney branch in Ft. Lauderdale, you were fired from Citigroup when everyone had you pegged as the heir to Sandy Weill's burgeoning empire. Everyone at the branch was shocked, as we all knew you by reputation as a brilliant CEO-in-the-making, and frankly, most of us were disappointed as we genuinely were all looking forward to working under your leadership one day. While your ousting was unexpected, you recovered quickly, and perhaps it helped motivate you to accomplish great things in the financial industry. You came to the CEO post at Bank One, then engineered its acquisition by JPMorgan Chase and took the CEO prize for yourself. All the while, Citi floundered, and you led JPMorgan Chase to become the premier American bank. Under your stewardship, Chase eschewed most of the sub-prime crisis and snapped up some of the choicest prizes in the ensuing crisis, namely Bear Stearns and Washington Mutual. Well done, sir. Personally, I was proud to be a JPMorgan customer and proudly listed in our offering documents that our firm's operational capital was safely held with your institution. I enjoyed great relationships with both your hedge fund/commercial banking division and your newly resurgent futures prime brokerage group. We were even on good terms with your private bank. Then, the MF Global bankruptcy happened. And, I became aware of your bank's involvement with the firm's collapse. How the New York Times reports that JPMorgan received 325M in segregated customer funds despite the fact that JPMorgan Chase was a primary custodian for them. Then, JPMorgan Chase reportedly failed to return the funds when MF Global reported that they erroneously transferred customer assets and went a step further into "CYA" mode by requesting a comfort letter indicating that JPMorgan Chase had not received customer funds. JPMorgan Chase reportedly did not receive this letter, yet still, it kept customers' property. Through my role as the co-founder of the Commodity Customer Coalition and pro bono counsel for some 8,000+ customers whose property it looks like your institution may be holding without their consent, I have loudly advocated for JPMorgan Chase to return this property. In response to this, rather than doing the right thing, you closed all of my personal and corporate bank accounts and my personal credit card. I have been told by multiple members of the media that JPMorgan Chase has called them and stated that if their media outlet has me on television again, that JPMorgan Chase will pull their advertising from the offending network. These bully tactics have only strengthened my resolve to protect my clients whom you have knowingly wronged and continue to wrong by improperly holding their property. It has made me delve deeper into what I have found is a pattern of such malicious conduct across JPMorgan Chase's business groups. JPMorgan Chase bribed officials in Jefferson County, Alabama, one of the poorest counties in the United States, to enter into a disastrous derivative transaction that bankrupted the county and caused an increase of 400% in sewage prices, forcing these poor people to have to choose between food and clean water. JPMorgan Chase designed an overdraft processing system that intentionally prioritized higher dollar transactions so that as many transactions as possible would overdraft, again generating usurious-like fees on the bank of those who can ill afford it. Let's not forget about robo-signing, forging foreclosure documents, or, getting back to the futures world, failing to properly segregate customer funds. Mr. Dimon, why do you impugn your character and reputation by allowing your firm to engage in these immoral activities? Sure, the regulators have failed to assess you any meaningful punishments that would deter you from this conduct on a strict, short-term dollars and cents analysis. Every penny of earnings counts, I get it. But, sir, you do not strike me as someone who is trying to pump your company's stock price for a quarter or two. You are the face of JPMorgan Chase and, I would assume, you plan on being there for a while. Why intentionally destroy any and all goodwill your firm has to make additional revenue that is mostly insignificant in the short-term and, quite possibly, deleterious in the long-term? The only reason I can think of is: because you can. And, that, sir is where hubris starts. Lately, it seems you've come to relish the role of antagonist, bully, and even, villain. You've gone on rants about tax rates, how gosh darn profitable you are going to make JPMorgan Chase, and even gone so far as to call out journalists for their share of salaries versus the revenue of news organizations. Put plainly, the confidence that enabled you to build JPMorgan Chase has now become arrogance. Mr. Dimon, I happen to have been a classics scholar and have read this story many times before. It never ends well. While you have led your firm to a dominant position in the banking industry and record profits of late, you haven't done it alone. You've had the benefit of taxpayer funds, whether you needed them or not (as you claim). You've had extremely favorable regulation and public policy that for years has prioritized re-capitalizing banks over the rights of Main Street Americans to be able to bear the fruit of their labor. Yet, you have begun to act like a megalomaniac, drunk on his own power ala Caligula, and attribute 100% of your success to your personal superlatives. People are starting to notice. While Occupy Wall Street has failed to articulate any clear message or goals, they have tapped into a rage in this country that is real and palpable. You have alienated many of your peers on Wall Street and in the hedge fund industry (yes, you have peers). And, now, you have alienated many members of the media that have the voices to spread the word of the ill conduct which your firm has repeatedly engaged in. In the Niccomedean Ethics, Aristotle described the worst kind of man as the "Incontinent Man," namely he who knows what he does is wrong and does it anyway. I believe somewhere deep down, you realize that a lot of what you and the bank that you lead do has become increasingly wrong. Why continue to go on like that? You're at the pinnacle of wealth and power, and continuing to do wrong will not make you meaningfully richer or more powerful. It can only serve to hurt you. "For what will it profit a main if he gains the whole world and forfeits his soul?" Based on all of your accomplishments, you may think you're beyond reproach, that you will never have your comeuppance. But, there's a reason that during Triumphs in Ancient Rome, a slave stood behind the Emperor whispering "all glory is fleeting" in his ear. Because, it is. And, one day, something bad will happen to JPMorgan Chase. I don't know if it will be a blow-up of the bank's some $500 Billion in re-hypothecation exposure or a squeeze on its rumored massive short silver position. Or, if the United States will again see a regulator that believes in, and enforces, stiff punishment for misconduct by banks. But, we will all find out should you continue down the path you are on. So, rather than continuing to corrupt your soul to harm others for negligible gain to yourself, choose a different path. Use your intelligence and your leadership abilities and your charisma to do the right thing, and set an example for the rest of the financial industry by showing that it is better for all society, JPMorgan Chase and Jamie Dimon included, to not crush those weaker or poorer than you by exacting every last cent from them just because you can. Rein in your malicious activities and focus on the legitimate ones. Be just a little humble -- and remove the target you've placed on your own back. Perhaps, you can start by voluntarily returning the returning all the excess overdraft fees JPMorgan Chase overcharged average Americans through mal intent. While you're at it, give back the hard-earned property of the farmers, ranchers, retirees, and others who were MF Global clients before I come take it back in court. JPMorgan Chase can borrow at 0% interest from the Fed. Do you realllly need an illicit free loan borne on the backs of farmers? Whether you realize it or not, you're at a crossroads. And, I promise you, one Greek to another, I will ardently help you to come to the end of whichever path you choose. James L. Koutoulas, Esq.
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| Posted: 11 Mar 2012 04:22 AM PDT Since 2007-2008 nearly all OECD countries, from Japan to the USA and the straight majority of European economies tasted free-fall economic conditions very similar to what the history books tell us about the 1929-1936 period. The economy went down and kept on going down. Recoveries were short, followed by more free-fall. Social and political stress rose as the economy fell - but this wasn't the case in China, India, Russia, Brazil, South Africa, Turkey, Argentina and other large and growing emerging economies, with a combined population two and a half times the population of the OECD group. In the "classic model" of economic collapse they should also have spun into recession.
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| Sunday Caption Contest - Quantum Bailout Edition Posted: 11 Mar 2012 04:03 AM PDT We have heard of the Schrödinger Greek bailout, Schrödinger's CDS trigger, and even the Schrödinger US economy (whose
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| International Forecaster March 2012 (#3) - Gold, Silver, Economy + More Posted: 11 Mar 2012 03:32 AM PDT The government is preparing to package and sell foreclosed homes. We do not know what discount to the current market there will be but you can guess it will be 20% or more. This event will cause home prices to trend lower dependent on whether the houses are put up for sale or rented. These homes will only be available to big buyers such as hedge funds and others with enormous amounts of capital. It is expected that the homes will be sold in lots of 5,000 to 10,000 and the minimum bid would be $1 billion. This is corporatist fascists busy at work.
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| Gold now defends not just liberty but simple reality Posted: 11 Mar 2012 03:29 AM PDT GATA can't vouch for the data published in the latest edition of Alan M. Newman's financial letter, Crosscurrents, which argues that financial manipulation has become the main pursuit of the United States economy, but he is far from alone in his observations. Commentary about this trend arose around 20 years ago, perhaps first in The New Republic magazine. And there is a well-established entry about it at Wikipedia, the Internet encyclopedia.
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For a long time, most analysts have believed that if someone was going to leave the euro, it would be a weak nation such as Greece or Portugal. But the truth is that financially troubled nations such as Greece and Portugal don't want to leave the euro. The leaders of those nations understand that if they leave the euro their economies will totally collapse and nobody will be there to bail them out. And at this point there really is not a formal mechanism which would enable other members of the eurozone to kick financially troubled nations such as Greece or Portugal out of the euro. But there is one possibility that is becoming increasingly likely that could actually cause the break up of the euro. Germany could leave the euro. Yes, it might actually happen. Germany is faced with a very difficult problem right now. It is looking at a future where it will be essentially forced to bail out most of the rest of the nations in the eurozone for many years to come, and those bailouts will be extremely expensive. Meanwhile, the mood in much of the rest of Europe is becoming decidedly anti-German. In Greece, Angela Merkel and the German government are being openly portrayed as Nazis. Financially troubled nations such as Greece want German bailout money, but they are getting sick and tired of the requirements that Germany is imposing upon them in order to get that money. Increasingly, other nations in Europe are simply ignoring what Germany is asking them to do or are openly defying Germany. In the end, Germany will need to decide whether it is worth it to continue to pour billions upon billions of euros into countries that don't appreciate it and that are not doing what Germany has asked them to do.
John Williams just warned that the ongoing financial problems have horrendous implications for the markets and systemic stability. Williams, who founded ShadowStats, also noted that U6 unemployment levels are not being reported by the mainstream media and they are at staggering levels. Here is what Williams had to say about the situation: "The outlook for the broad economy remains bleak, despite relatively upbeat February payroll data. Deterioration in the January trade deficit and related revisions suggest negative impact on first-quarter 2012 GDP reporting, along with increasing downside pressure on the U.S. dollar from underlying economic and political fundamentals."
Dear CIGAs,
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