Gold World News Flash |
- Gold Parties: The Latest ?In? Thing ? Here?s How to Throw Your Own Fun Party and Make a Nice Profit Too!
- Mickey Fulp is Going Crazy Over Ratios and So Should You – 03-16-2012
- The Crazy Things That One Whistleblower Says Are Happening At JP Morgan Will Blow Your Mind
- Gold Seeker Weekly Wrap-Up: Gold and Silver Fall About 3% and 5% on the Week
- Eurozone Banks And Contagion Risk
- By the Numbers for the Week Ending March 16
- I?m Bullish On Gold for 3 Good Reasons ? Here They Are
- “MF Global Is Worth More To Its Creditors Dead Than It Was Alive” Says Fund Manager Mark Melin
- Churches Foreclosed – Gold & Silver Weekly News with Christian Garcia March 16
- John Williams: Inflation Effect – Tough to Ignore or Contain
- The Gold Price is Trapped Between $1,640 and $1,665 One Way or Another this will Break Next Week
- Gold and Silver Disaggregated COT Report (DCOT) for March 16
- John Williams: Inflation Effect - Tough to Ignore or Contain
- Wanted! Bearish Gold Bulls
- Bernanke Doesn't See Inflation…
- Buying a Hairway to Steven with Gold
- Let The Dollar Do The Talking Where Gold Is Concerned
- While Fans Line Up, You Can Clean Up
- Warren Buffett vs. Real Cash
- Canada Sees Mining Resurgence: Scott Jobin-Bevans
- Gold Daily and Silver Weekly Charts - the 'Five Point Palm Exploding Heart Technique' of Pai Mei.
- COT Gold, Silver and US Dollar Index Report - March 16, 2012
- Gold Rollercoaster Likely to Go Up
- The Fed Isn’t Providing “Monetary Morphine”; It’s Spreading Financial Cancer That's Killing the Markets & Democratic Capitalism
- Gold and Silver Find Support At Long Term Uptrends, Significant Bargain In Miners
- Gold's Bullish Would-Be Bears
- Gold's Bullish Would-Be Bears
- In The News Today
- Pierre Lassonde: Upside 'Fireworks' Ahead For Gold
- LGMR: Gold in Euros, Sterling Drops to 10-Week Low as India Raises Import Duties, US Inflation "Rears Its Head" as Gas Prices Surge
| Posted: 16 Mar 2012 06:24 PM PDT Innovative and rewarding gold parties are popping up all over northern Colorado these days. [Could they be coming your way in the near future? Better yet, why don't you make arrangements to have your very own! Here's how.] Words: 460 So says Brian Kaplan ([url]www.nocogoldanddiamond.com[/url]) in edited excerpts from an article* which which Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!), has further edited below for length and clarity – see Editor’s Note at the bottom of the page. (This paragraph must be included in any article re-posting to avoid copyright infringement.) Kaplan*goes on to say, in part: I am the owner of NoCo Gold & Diamond, a web-based company that has been buying and selling gold and silver for the past 25 years. [Recently, here in northern Colorado, we] introduced a fun and profitable [element to the conventional "we buy your unwanted gold jewelry" pitch seen on TV - the "gold party"]. The Profit Potential Unlike traditio...
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| Mickey Fulp is Going Crazy Over Ratios and So Should You – 03-16-2012 Posted: 16 Mar 2012 04:36 PM PDT from The Financial Survival Network:
The undervalued commodity play of the decade has to be natural gas. It's trading just over $2 per mcf, and the ratio of btu's against a barrel of oil just shot up 50! Of course there are very good reasons why this is happening. The shale gas boom in the US has given us an extreme NG surplus. It's a regional market, and the gas is very hard to move and export to other places in the world. But, be sure that as long as the world is hungry for energy, someone will find a way to get that gas where it needs to be. Especially when gas trades around $10 per mcf in Europe and $15 per mcf in Asia. But patience in this market is clearly a requisite and a virtue. Click Here to Listen to the Podcast
This posting includes an audio/video/photo media file: Download Now |
| The Crazy Things That One Whistleblower Says Are Happening At JP Morgan Will Blow Your Mind Posted: 16 Mar 2012 04:29 PM PDT from The Economic Collapse Blog:
Read More @ TheEconomicCollapseBlog.com
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| Gold Seeker Weekly Wrap-Up: Gold and Silver Fall About 3% and 5% on the Week Posted: 16 Mar 2012 04:00 PM PDT Gold climbed up to $1664.27 in Asia before it fell back to $1639.54 by a little after 8AM EST, but it then rallied back higher in New York and ended with a gain of 0.13%. Silver slipped to as low as $32.12 before it also rallied back higher in New York and ended with a gain of 0.15%.
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| Eurozone Banks And Contagion Risk Posted: 16 Mar 2012 03:20 PM PDT by Alasdair Macleod, GoldMoney.com:
Furthermore, when a state defaults it is only a small part of the whole story, because governments today are major participants in their economies. The consequences of a central government default extend to state guarantees for other entities and related businesses: in the case of Greece its default has altered the assumptions behind all non-central government public-sector loans, such as railway bonds. And the private sector not directly dependent on government subsidies or contracts is also affected by the prospect of excessive taxes. For this reason, the consequence of Greece's default goes considerably beyond the loans directly involved, and all other eurozone nations are in a similar position. The headline numbers are a fraction of the total involved.
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| By the Numbers for the Week Ending March 16 Posted: 16 Mar 2012 02:58 PM PDT HOUSTON -- Just below is this week's closing table.
That is all for now, but there is more to come.
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| I?m Bullish On Gold for 3 Good Reasons ? Here They Are Posted: 16 Mar 2012 12:21 PM PDT In my opinion, there are three scenarios that could occur in the coming years when analyzing the global economy – and all three have the potential to offer bullish environments for the price of gold. [Let me explain the first and most likely reason.] Words: 660 So says*Matt McCall*([url]www.MatthewDMcCall.com[/url]) in edited excerpts from his original article* which Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!), has further edited below for length and clarity – see Editor’s Note at the bottom of the page. (This paragraph must be included in any article re-posting to avoid copyright infringement.) McCall goes on to say, in part: Scenario #1: Modest growth for the global economy. The developed countries such as the United States and Western Europe will grow by approximately 2.5 percent with the emerging markets slightly higher. This scenario assumes the worst is behind us in Europe and that no “black swan” events will occur in ...
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| Posted: 16 Mar 2012 11:23 AM PDT from CapitalAccount: Welcome to Capital Account. [Lauren blows a whistle on set] Is this what the too big to fail banks should really be worried about? A new emerging market for whistle blowers! First Greg Smith, now a congressional budget officer, who's next? Earlier this week, Greg Smith, a Goldman Sachs employee, made his resignation public on the pages of the New York Times in an op-ed, accusing his firm of "toxic" practices that put profit first at the expense of customers and possibly the US economy. And Lan T. Pham, the CBO officer, alleges that she was fired for not accepting the wall street party line…pressured not to be so pessimistic about banking and the housing outlooks. In just one of many hard-hitting excepts from her letter, the CBO officer says "I was repeatedly pressured by the CBO Assistant Director, Deborah Lucas…not to write nor discuss issues in the banking sector and mortgage markets that might suggest weakness in these sectors and their consequences on the economy and households…" She was encouraged to push the policies of a Morgan Stanley VP and provided Goldman Sachs analyses as well. That sounds familiar doesn't it? Despite those who are speaking out, is there just no winning against the too big to fail banks? Remember, when judge Jed Rakoff rejected the SEC's 285 million dollar settlement with citigroup over toxic mortgage debt. It was because citigroup wasn't forced to admit liability. Well, now a federal appeals court has stopped just short of rejecting his rejection, saying he overstepped his authority. Come on! What's it going to take to see some admission of guilt for conch? And speaking of the need to admit guilt, what ever happened to Jon "the Don" Corzine? The MF Global brokerage trustee says they know where some more money is — they want to distribute another $685 million dollars to customers, while another trustee has been asked by US lawmakers to abort his mission to pay out bonuses to MF Global executives. But just who are these trustees? We'll expose this and more.
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| Churches Foreclosed – Gold & Silver Weekly News with Christian Garcia March 16 Posted: 16 Mar 2012 10:49 AM PDT |
| John Williams: Inflation Effect – Tough to Ignore or Contain Posted: 16 Mar 2012 10:47 AM PDT from King World News:
John Williams continues: Read More @ KingWorldNews.com
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| The Gold Price is Trapped Between $1,640 and $1,665 One Way or Another this will Break Next Week Posted: 16 Mar 2012 10:43 AM PDT Gold Price Close Today : 1,655.50 Gold Price Close 9-Mar : 1,710.90 Change : -55.40 or -3.2% Silver Price Close Today : 3257.3 Silver Price Close 9-Mar : 3417.5 Change : -160.20 or -4.7% Gold Silver Ratio Today : 50.824 Gold Silver Ratio 9-Mar : 50.063 Change : 0.76 or 1.5% Silver Gold Ratio : 0.01968 Silver Gold Ratio 9-Mar : 0.01997 Change : -0.00030 or -1.5% Dow in Gold Dollars : $ 165.23 Dow in Gold Dollars 9-Mar : $ 156.13 Change : $ 9.10 or 5.8% Dow in Gold Ounces : 7.993 Dow in Gold Ounces 9-Mar : 7.553 Change : 0.44 or 5.8% Dow in Silver Ounces : 406.24 Dow in Silver Ounces 9-Mar : 378.11 Change : 28.13 or 7.4% Dow Industrial : 13,232.55 Dow Industrial 9-Mar : 12,922.02 Change : 310.53 or 2.4% S&P 500 : 1,404.16 S&P 500 9-Mar : 1,370.87 Change : 33.29 or 2.4% US Dollar Index : 79.801 US Dollar Index 9-Mar : 80.003 Change : -0.202 or -0.3% Platinum Price Close Today : 1,672.70 Platinum Price Close 9-Mar : 1,689.25 Change : -16.55 or -1.0% Palladium Price Close Today : 697.80 Palladium Price Close 9-Mar : 711.25 Change : -13.45 or -1.9% The more I pore over the silver and GOLD PRICE charts, daily and weekly, the louder those upside down head and shoulders formations shout. I'd say that within a month, maybe a little longer, they will be completed and ready to break out over the neckline. Meantime, we suffer. The GOLD PRICE shuffled down $3.60 to $1,655.50. Now that doesn't look like much of a performance, but the sellers attacked about the time New York opened and drove gold clean down to $1,640. But gold climbed right back to $1,664.70, leaving a clean V-reversal behind. Problem remains that gold did not exceed yesterday's high at $1,665.60 and indeed gave a little ground. Thus $1,640 shapes up as strong support, but $1,665 as tough resistance, and like that little steel sphere in a pinball machine, gold seems trapped. One way or the other this will break next week. The SILVER PRICE gave back a miserly 12 cents today to a 3257.3c close. Silver was attacked by sellers today, too, and fought them off but also failed to advance above yesterday's highs. Like a man trying to climb a cliff, I am watching 3150c support below, and 3300c resistance above. 'Twas a tough week for silver and gold, but a good week for stocks and a flat week for the US Dollar. And it's got me scratching my head. The one thing you have to keep on doing constantly is to keep questioning your own presuppositions. Is the chart changing primary trend, or pulling your leg? Stop asking that and the market will one day behead you. Stocks finally broke through 13,000 this week, and shot 2.4% higher. Stock indices spake with the Voice of Babel today, most lower but the S&P500 higher. Dow shaved off 20.12 (0.15%) to stop at 13,232.55. S&P500 won a psychological victory this week by crossing above 1,400, and rose today 1.56 (0.11%) to 1,404.16. What has me scratching my head is not lice (I hope), but the Dow in Gold Dollars, my most reliable indicator. It has been headed down since August 1999 at about G$940.50 and today stands at G$165.28 (7.993 oz). This takes the DiG$ out above the current downtrend line. Normally when the DiG$ bumps its forehead against a downtrend line or even slightly crosses it, it foretells a big drop in stock coming against gold. In other words, that bump into the downtrend line marks the spot where stocks have spent all their strength against gold -- generally. Yet the DiG$ rose a little higher. Could mean two things, either that the DiG$ may make a foray up to its 200 day moving average, which has happened before and would change no primary trend, or that the primary trend has changed. That would change everything, since the primary trend we have been riding is "Gold and Silver up, Stocks and Dollar down." I resist the latter conclusion, even while I look it in the eye, because no upside blow-off has yet overtaken metals. At the end of every bull market in every investment, a blow-off occurs. So this may be a painful time when stocks outperform gold, even send the DiG$ to the 200 DMA, but there's no hard evidence the primary trend has turned. Yes, I am not unaware that multitudinous croakers from Wall Street are singing like spring peepers that gold and silver have passed their peak, and that the US economy is on its way to recovery. The first is wrong, the second is the triumph of hope over reason. Meantime, we hold our silver and gold and stick with a strategy that has brought success since 2001 and that has not yet been gainsaid by events. Tried, but not gainsaid. US dollar index dipped lower today than I expected, and reached the lower limit of believability. Dollar closed down 0.45% to 79.80 after a 79.68 low. Either the dollar turns around here, or the Nice Government Men mean to send it down again for a while, and let the other Potemkin currencies rise. The euro and yen both rose today, but let's address them one by disgusting one. I say "disgusting" because any morally and rationally fastidious mind must recoil in pain and horror at the monetary set up we use every day without the least shiver or tremor of nausea. If a man from Mars should arrive, I don't want the job of explaining the monetary system to him. He would just look at you in disbelief and disgust, spin on his eight heels, climb back into his flying soupbowl and spin away to some saner planet, shaking both heads. But I digress. Euro today rose 0.67% to $1.3168. That has the look of a turnaround upward on the 5 day chart, but to make good on that threat, the Euro must close above 1.3200. Euro appears a bit more equivocal on a longer chart, but has in the last 6 days smashed into its critical moving averages -- 50 and 62 day -- and turned up. However, above remains the 20 DMA at 1.3227 and a little gap. Euro may be doing no more than filling that gap before it resumes its earthward trajectory. The yen, having made the huge downward adjustment the Nice Government Men wanted, today posted the first half of a Key Reversal. Specifically, it hit a new low for the move yet closed higher on the day. It will complete the Key Reversal if it closes higher on Monday. Remember, however, that if it fails to close higher it will negate the Key Reversal. Close was 120.01c/Y100, up 0.18%. There you go again, Moneychanger, filled with suspicion of the Nice Government men whose only intention is to do good. Why do you look at that nice Round 120 Number and say automatically, "Central Bank Target determined over rubber chicken at the monthly BIS meeting in Basel"? I am so ashamed of myself. Y'all enjoy your weekend! Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com © 2012, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose. 
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| Gold and Silver Disaggregated COT Report (DCOT) for March 16 Posted: 16 Mar 2012 10:17 AM PDT HOUSTON -- This week's Commodity Futures Trading Commission (CFTC) disaggregated commitments of traders (DCOT) report is, to coin a phrase, a "yawner." Although gold was little changed Tuesday to Tuesday we continued to see modest short covering by the usual hedgers and liquidation by the usual specs. (More below.)
Continued... In the DCOT table above a net short position shows as a negative figure in red. A net long position shows in black. In the Change column, a negative number indicates either an increase to an existing net short position or a reduction of a net long position. A black figure in the Change column indicates an increase to an existing long position or a reduction of an existing net short position. The way to think of it is that black figures in the Change column are traders getting "longer" and red figures are traders getting less long or shorter. All of the trader's positions are calculated net of spreading contracts as of the Tuesday disaggregated COT report. With silver close to flat we see a small amount of further long liquidation with just a tiny amount of hedger short covering. Compared to last week's report, this one seems tame. Have a good weekend everyone – the fish are biting, as they say in these parts, como uno perro grande. (We believe that translates into, "Like one big dog.") Vultures, (Got Gold Report Subscribers) please note that updates to our linked technical charts, including our comments about the COT reports and the week's technical changes, should be completed by the usual time on Sunday evening (around 18:00 ET). As a reminder, the linked charts for gold, silver, mining shares indexes and important ratios are located in the subscriber pages. In addition Vultures have access anytime to all 30-something Vulture Bargain (VB) and Vulture Bargain Candidates of Interest (VBCI) tracking charts – the small resource-related companies that we attempt to game here at Got Gold Report. Continue to look for new commentary directly in the charts often.
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| John Williams: Inflation Effect - Tough to Ignore or Contain Posted: 16 Mar 2012 09:43 AM PDT  John Williams just warned that significant inflation will feed into the global system because of rising oil prices and the Fed's policy to debase the dollar. Williams, who founded ShadowStats, also warned the US dollar will take a major hit because of global "dollar dumping." Here is what Williams had to say about the situation: "With oil and gasoline prices pressured by market concerns over Middle Eastern political stability, monthly consumer inflation jumped in February and stabilized in the three-plus percentage range on a year-to-year basis."
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| Posted: 16 Mar 2012 09:17 AM PDT Gold's bull run is exhausted, apparently. Yet it's due only a shower, not a bath... So gold bulls are turning bearish. But not really. "A number of things which would have kept people with an eye on the upside for gold prices ... Read More...
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| Bernanke Doesn't See Inflation… Posted: 16 Mar 2012 08:57 AM PDT by Brittany Stepniak, WealthWire.com:
In brief, Federal Reserve Chairman Ben Bernanke says the potential for price increases across the board in the United States is best described as "subdued." Most other experts believe "sudden" is a more appropriate word to describe the inflation crisis at hand here… Amity Shlaes (Bloomberg) paints the real inflation picture for us with a sailing analogy. Shlaes says monetary policy is very similar to sailing: You may be blissfully gliding along on smooth waters with nothing but clear skies and blue water in your path. A windy storm may be looming in the undetectable distance, but this is all unbeknown to the sailor. Right now, the U.S. is experience a similar situation. We're unprepared for what's about to hit us. Mainly, we're unprepared for the burden of "sudden" inflation and the threats associated with hyper-inflation.
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| Buying a Hairway to Steven with Gold Posted: 16 Mar 2012 08:49 AM PDT by Adrian Ash BullionVault Wednesday, 14 March 2012 It's now 6 months since gold hit its current all-time high. How long 'til the next...? THANKS TO HINDSIGHT, the bull market in gold which followed Richard Nixon unpegging the US Dollar, and therefore the rest of the world, from its last pretence of a Gold Standard sounds as inevitable today as Jimmy Page's solo in Stairway to Heaven, also a 1971 classic. But the gold price's rise from $35 per ounce to $850 in less than a decade hardly ran that smooth at the time. Hitting a new record high of $70 per ounce within a year of floating free from the Dollar, gold took 6 months to reach and breach that high again. The gold price then took a further six months to break the next July's top at $127...then almost 7 months to break spring 1974's high at $179.50...and then more than three years to top that winter's peak of $195.25 per ounce. Knowing not to sell but hang tight wasn't easy. Not least because US investors...
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| Let The Dollar Do The Talking Where Gold Is Concerned Posted: 16 Mar 2012 08:46 AM PDT Jim Sinclair's Mineset Let the dollar do the talking where gold is concerned -Master Kenny Adams Dear CIGAs, Here are some notes on what to expect with the US dollar from our good friend, Master Kenny Adams. NEAR TERM: 80.80/81.50: MAJOR. At present, this is holding as maximum upside potential for the near term. If reached, this level is sufficient in strength to return the USDX to a major bear trend. INTERMEDIATE TERM: 82.15/83.80: MAJOR, with numerous major overlays inside this bracket. Its core holds at 82.20 / 83.20. A close above 81.70 would be expected to continue on to a test of this level. 83.10/84.25: MAJOR, and here occurs another partial overlay, making for three major overlaid brackets between 82.15 and 83.80. A move up to 82.15 or above - although not currently supported internally, would be expected to result in exhaustion and a very rapid collapse. IN SUM: We do not expect the USDX to close above 81.50, before exhaus...
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| While Fans Line Up, You Can Clean Up Posted: 16 Mar 2012 08:22 AM PDT Dave Gonigam – >March 16, 2012
"In New York," says The Wall Street Journal, "more than 250 people were crammed into the hallways of Grand Central Terminal waiting for the new Apple store there to open. It's expected that the line will last until about 1p.m." No, we don't get it either. If they can stand in line till lunchtime, that means they don't have jobs, right? Or maybe they're well-off and can pay homeless people to stand in line for them.
The answer's not obvious if you've been paying attention. You know intuitively that Apple isn't a value play (P/E near 17). And you read Chris Mayer declare in this space last week that AAPL is a sell: Its marquee product, the iPhone, is about to run into some serious head winds. Too, "Apple is currently releasing products already dreamed up in Steve Jobs' fertile mind," says our resident tech wizard Ray Blanco. "What will happen when the Jobs pipeline dries up?" Google's Android operating system is gobbling up Apple's market share, and Microsoft's new mobile OS looks really spiffy, Ray says. "Apple is trading on its past success."
Start with mobile technology suppliers. "This includes major Apple suppliers. All of the suppliers I've picked don't make components just for Apple products; they make them for the entire mobile market. The slices of the market share pie might change size, but the pie itself will continue to grow." Then there are the companies feeding consumers' insatiable hunger for bandwidth. "A wireless data capacity crunch is happening right now," Ray explains. "Wireless carriers like Verizon, AT&T and Sprint are dumping unlimited data plans in the face of too much traffic to handle." "Consumers are hating this, of course. When they shell out hundreds of dollars for a powerful wireless device like the new iPad, they want to be able to use it as much as they like. They want to be able to browse the Web, download applications and watch high-resolution video. Technology companies that help wireless carriers solve the bandwidth crunch inexpensively will be in high demand in this environment." Bottom line: "Apple shares have zoomed over 500% over the last five years," concludes Ray. "Today, there are better ways to profit from the mobile revolution." Ray named seven companies poised to ride this growth wave in a recent alert to readers of his advisory Technology Profits Confidential. Not a reader yet? Here's where to go.
What little movement there's been since Tuesday's big rally has been mostly up. The S&P hoisted itself above 1,400 yesterday.
The year-over-year increase works out to 2.9%, the same as the month before. John Williams' real-world estimate at Shadowstats.com — applying the same methods the statisticians used 30 years ago — reveals the year-over-year increase is just a mite higher, 10.5%.
"Is the bond bubble finally bursting?" asks an article at CNNMoney. We had to read carefully for signs of plagiarism of The 5 yesterday and the day before. "While a world of Treasury yields above 2% may be the norm now," says the article, "analysts don't expect rates to move that much higher because the Federal Reserve would still likely intervene to keep rates low." Nope, no plagiarism here. The idea the Mother of All Financial Bubbles might actually burst remains beyond the realm of respectable discussion. Right where we want to be. [Ed. Note: Addison spoke about the blowup in Treasuries among other things this week with Steve Cordasco of WPHT, Philadelphia's 50,000-watt talk radio blowtorch. The Kony 2012 video phenomenon... the crossroads in the housing market... and an update on our Trade of the Decade: They're all covered in a wide-ranging discussion also featuring Whiskey & Gunpowder's Gary Gibson. It airs tomorrow morning from 7-10 a.m. EDT. You can listen to 1210 AM in the Delaware Valley... or online at this link.
"In the world of professional baseball," Chris explains, "the worst crime you can commit is against the integrity of the game. Baseball banned Pete Rose for life because he bet on games while he was a manager of the Reds. Baseball banned 'Shoeless' Joe Jackson and seven other White Sox players for throwing the World Series in 1919." "You could be a druggie or a rapist and still play ball. But do something to damage the perception that what people are watching is a legitimate athletic contest and not a rigged game and you are out — for good. It is a stiff penalty because the game knows that without that perception, it is out of business. Fans won't come to the ballpark or watch games if it is all a farce." "I think the storm around Greg Smith has touched a similar chord. Goldman Sachs is almost synonymous with Wall Street. If people widely believe Goldman is actively trying to screw its clients, then the game is up. No one wants to play. The public markets suffer. The ability of the nation's companies to raise large amounts of capital is impaired. And Wall Street's role in the world is much diminished." "This is already happening, as the world's financial axis spins now not only on New York, London and Tokyo, but also Sao Paulo, Dubai, Mumbai and other market hubs. Greg Smith and Goldman Sachs just hasten that process along." [Ed. Note: The process Chris describes is a central theme in his new book, World Right Side Up — wealth and power shifting away from the West back toward China, India and other places that dominated trade for the better part of recorded history. It's not overstating the case to say that if you're investing anything in the 21st century, you need to be up to speed on the trends and insights Chris has gleaned from his exhaustive world travels and put between the covers of this volume. We're holding an "online launch party" on April 12. To learn more about how you can take part — there's absolutely no obligation — check this out.]
Two weeks ago, his play on the Dow delivered a 24% gain… followed by his play last week on oil, good for 19.5%. With copper staying well above $3.745, it looks as if this mock trade will book a gain of 21%. Every play in the market Abe follows works out in four days or less — "in on Monday, out by Friday," as we say. Sound intriguing? Learn more here.
"Is some sort of special account in the U.S. required or can these be executed from ANY trading account around the world (with access to the U.S. options market)? Basically, what are the specific requirements to participate/profit from Fear & Greed Trader?" The 5: Let's say you're watching a basketball game and you bet your buddy $50 that a player will score more than 20 points before it's over. If you're wrong, you pay your buddy $50. If the player comes through, your friend owes you $50. At the end of the game, the bet is over. The player either scored more than 20 points or he didn't. And you're either $50 richer or $50 poorer. Binary options work the same way, except they cover financial data and events. For instance, you can bet whether gold will end the week over $1,680 an ounce. You place the "bet" by buying a binary option. If you're wrong, you lose the money you paid for the binary. If you're right, you get your money back plus the money from the other side of the bet. But unlike sports betting, you can apply technical and fundamental analysis to a binary's underlying instrument. So you don't have to make blind bets — you can dig into the data to see how likely it is that a play will pay off. It's what Abe does every week. Abe's recommendations trade on the North American Derivatives Exchange, or Nadex. Unfortunately, at this time, only U.S. citizens can open an account with Nadex. You can find similar binaries elsewhere — most notably from Nadex's parent company, IG Markets. But you'll need a Nadex account to fully take advantage of Abe's plays. We know of some brokers that are trying to open Nadex trading to international clients — so watch this space! In the meantime, U.S. readers are invited to learn much more about Abe's strategy right here.
"It would be nice if you'd keep your opinions to financial facts, so we can make a true financial decision, rather than gas from your ass. I find much of your article informative, but let's just stick to true facts, and not opinion." The 5: Darn, and we thought we were equal-opportunity offenders. Fact is, we don't think either party has a clue… or deserves any credit for bringing about a recovery. To even suggest politicians can do so is an insult to the entrepreneurs and small-business owners who actually create jobs.
"Agora seems to be one of the very few (relatively) reliable beacons in these increasingly hostile waters we call financial markets — even your occasional pieces about various controversial/political/social/religious/… topics. Actually, especially those, since I am "So keep doing what you are doing… maybe you can entice with every forecast a few more of your subscribers to think for themselves." The 5: You're welcome. It's a task we relish. Have a good weekend, Dave Gonigam P.S. Next week, The 5 comes to you from Rancho Santana in Nicaragua. The entire team of Agora Financial editors will gather amid the sun and surf to exchange their latest ideas about how you can make money at this odd crossroads — stock indexes at multiyear highs, gold stuck in a trading range, oil prices threatening to throttle the world's major economies yet again. Watch for our team's insights coming your way in near real-time in The 5. After those meetings wrap up, Addison will host a small gathering of readers for the Rancho Santana Sessions next Friday and Saturday. This is a first-of-its kind event, in which our guests will have a chance to quiz a panel of experts about offshore investing. These experts will address a range of concerns relating to tax planning, estate planning, legal hurdles and the ever-popular question of how to park IRA assets overseas. We wanted to keep this gathering intimate… so we limited it to 30 people. But we also want to get this essential information into as many hands as possible. So we're offering you a chance to "listen in" not long after the event wraps up. Starting today, you can pre-order high quality audio recordings of the Rancho Santana Sessions. We'll have them in your inbox around Saturday, March 31 — only a week after the conference wraps up. Order now and you'll get the best price available.
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| Posted: 16 Mar 2012 08:16 AM PDT Recently, the super investor Warren Buffett again expressed his opinion on gold. Here's his view from the 2011 Berkshire Hathaway annual report: Read More...
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| Canada Sees Mining Resurgence: Scott Jobin-Bevans Posted: 16 Mar 2012 08:15 AM PDT The Gold Report: What are the key challenges the mining industry faces in 2012–2013? Scott Jobin-Bevans: PDAC, under the leadership of newly appointed Executive Director Ross Gallinger, will be conducting a strategic review involving the board of directors, staff and gathering membership input. There are a number of issues facing the association and the industry, and I am sure that human resources challenges will surface as a key issue. [B]TGR:[/B] When you say human resources, what are you talking about specifically? SJ-B: It's the skilled workforce: geologists, geophysicists, process engineers, mining engineers, miners and skilled labor. There's a huge gap between the young people who are out there now and the older ones who know those skill sets from years ago. For instance, we're nearly missing the 35-to-45 age bracket. There is a tremendous opportunity for industry associations such as ours, the government, private sector and educators to work together. This is a hugely imp...
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| Gold Daily and Silver Weekly Charts - the 'Five Point Palm Exploding Heart Technique' of Pai Mei. Posted: 16 Mar 2012 07:57 AM PDT |
| COT Gold, Silver and US Dollar Index Report - March 16, 2012 Posted: 16 Mar 2012 07:34 AM PDT COT Gold, Silver and US Dollar Index Report - March 16, 2012
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| Gold Rollercoaster Likely to Go Up Posted: 16 Mar 2012 06:54 AM PDT The roller coaster metaphor we used two weeks ago after the $90 flash crash in the price of gold seems appropriate this week as well. It must be tough out there for precious metals investors. Wednesday gold futures tumbled again. Read More...
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| Posted: 16 Mar 2012 06:46 AM PDT While the vast majority of commentators look at the market action of the last three months and celebrate, I cannot help but shudder. The reason is that the stock market has been propped up solely by Central Bank and/or Federal Government intervention or the hope of more intervention.
That alone is worrisome as it indicates the stock market no longer cares for economic or financial fundamentals (something that has been clear for several years now).
However, far more worrisome is fact that the Fed and Federal Government are now not only propping up stock prices, but are openly trying to crush other assets (especially politically dangerous commodities such as oil and gasoline) in an attempt to make it appear that inflation is under control.
Consider the following:
All of these moves have two goals:
The take away point that I’m trying to make here is that we’re now at the point of intervention in which the Fed is openly managing the markets right down to specific asset classes.
Never in history has Central Planning gone well for either the markets or the economy. Wall Street and the mainstream media may cheer that stocks are up and inflation “transitory” (despite clear evidence that the latter point is false: the bond market indicates real inflation to be around 10%). However, I for one am truly terrified by what I see occurring in the markets.
The reason for this is that I do not view what’s happening through the same lens as most investment commentators. Most commentators, including Fed officials, view the Fed’s involvement in the markets as being akin to a drug dealer trying to cure an addict of his/her addiction by providing more drugs (see Dallas President Fisher’s recent speech on the market’s need for “monetary morphine”).
I disagree with the “addiction” metaphor because it implies that the markets/ addict could potentially become healthy if the dealer stopped dishing out the drugs. This ties in with Bernanke’s claims that everything is under control and that he can remove the excess liquidity anytime he wants to.
Remember, Bernanke is speaking from the perspective of an economist: someone who believes that monetary policy and the economy are items that are separate from human psychology or emotion (much as an addiction can be viewed as a physical issue that can be cleared up by physical removal of the drug and the body adjusting accordingly).
However, the markets and the economy are not standalone items or “real things” in of themselves. They are in fact measures of human activity. And human activity is guided by reason and emotions, which are based on varying amounts of evidence and belief.
With that in mind, I believe Central Bank intervention is not a drug or “hit” for an addict. Instead, it is a cancer that has spread throughout the financial system’s psyche and which is killing the markets and Democratic capitalism.
The markets are supposed to be based on Capitalism. And Capitalism, particularly Democratic Capitalism, which is based on the involvement of the general population, by definition requires two primary items:
The Fed’s policies have damaged both of these areas beyond repair.
Regarding #1, the Fed’s action of bailing out the connected elite erased the concept of risk of failure for that group entirely. The Big Banks continue to engage in reckless practices including drawing down loan loss reserves, refusing to come clean about their true balance sheet risk, paying out record bonuses, and of course, screwing their clients (the Greg Smith op-ed in the New York Times is only the beginning of the whistleblowing for Wall Street).
Put simply, the Big Banks, and even well-connected hedge funds (several of which were warned in advance of the Fed’s upcoming moves in private meetings with Fed officials) are now basing their business models and investment strategies on the idea that risk of failure is next to none.
This in turn has destroyed the second principle of Democratic Capitalism: trust between market participants.
By supporting the very folks who should have failed (the Big Banks) the Fed has engendered distrust from those who were not on the receiving end of the bailouts (Main Street). Indeed, housing data has now made it clear that the policies implemented by the Fed were aimed at propping up the Big Banks/ Wall Street, NOT the housing market/ Main Street.
As a result, the markets are now viewed by market participants and the general public as a “rigged game.” This, in turn, has caused two trends to emerge:
Put another way, the Fed has killed the most important form of trust for Democratic Capitalism. I’m referring to the trust that there is one set of rules/ guidelines for all market participants or that the person on the other side of the transaction has the same risk of failure and opportunity for success as you or I do.
Indeed, things have gotten so bad that even those on the receiving end of Fed largesse no longer trust one another as evinced by inter-bank lending in the US and the EU.
As if this was not bad enough, the Fed is not only killing the basic trust of Democratic Capitalism and replacing it with another, more “sickly” form of trust: the trust that the Fed will continue to prop up those institutions that should have failed as well as the stock market in general.
This fits well within my “cancer” metaphor, as the Fed is literally killing off the positive form of Democratic trust needed for Capitalism and spreading a negative Moral Hazard-based form of trust, much as cancer cells kill off healthy cells by infecting them until they too are cancerous.
So while the mainstream media and various “gurus” view the Fed’s actions as saving capitalism, I totally disagree.
The Fed’s actions have permitted cancerous beliefs to spread throughout the financial system, thereby killing Democratic Capitalism which is the basis of the capital markets.
Short-term, this may have allowed the “patient” (the markets) to continue to function, much as can someone with cancer can continue to function normally for a while before the disease makes it impossible. But long-term the end result will prove disastrous.
I’ll address the “end result” in my next research piece. But for now, everyone should know that whether the “end result” happens next week, next month, next year, or further down the road, it will be akin to what happens when cancer spreads unchecked throughout a patient.
Graham Summers PS. If you enjoyed this piece, swing by www.gainspainscapital.com for more market commentary and economic insights.
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| Gold and Silver Find Support At Long Term Uptrends, Significant Bargain In Miners Posted: 16 Mar 2012 06:28 AM PDT Gold is pulling back to long term support and is able to be purchased at a discount. Investors may be seeking riskier assets due to fears of inflation and higher interest rates. Right now industrial metals such as copper/ nickel, oil and blue chips are outperforming due to their value of being hedges against inflation and represent the riskier assets. Gold and silver which has in the past represented risk off is still in consolidation mode. Eventually investors will realize that the monetary metals can do well in both a deflationary risk off environment as well as an inflationary risk on environment and the trend will turn significantly higher as it has for the past decade. Gold is actually finding support and presenting a potential discount buying opportunity. It is important to accumulate when the public is disinterested. Right now, Pandora, Facebook and Apple are the current fads, while gold is being overlooked and placed on sale by Mr. Market. In 2011 the European leaders come up with a deal that may save the day for now. The European leaders have come up with a last minute Greek bondholder rescue and a $1 trillion dollar bank bailout, which apparently has saved the 2011 market crash from being a depression and just a mild recession. Gold Stock Trades is heaving a sigh of relief in concert with the rest of the financial world. Behind the scenes in this current crisis of capitalism our Chinese colleagues may be playing the role of Victoria's Messenger making a timely entrance on the current stage to play a cameo role in lending validity to the Eurozone QE3. To paraphrase Ben Franklin, "Gentleman, we must all hang together or else hang separately." Gold Stock Trades has written extensively regarding China's role in the world financial crucible which bears persistent observation. They hold copious amounts of American and European debt and can not divorce their partners. The point of all this to our subscribers is that the world has a new incarnation of QE3. This means stoking the boilers anew to percolate the Eurozone as America did in 2009-2011 with the TARP, Obama stimulus, two rounds of QE and Operation Twist with the recent $1 trillion Long Term Refinancing Option. It is indeed fitting that the printing press invented in Germany by Gutenberg in the 15th century be once again called into service in the production of fiat paper. Remember that Gold Stock Trades on October 4th signaled that a stronger than expected risk on rally was in the cards. We advised that a bottom was being established and that patience and fortitude was our mantra. While others were running for cover, Gold Stock Trades was reiterating maintaining a strong hand in a panic driven market. We also called the top in tissue paper U.S. treasuries in late December and we are now witnessing a breakdown in that marketplace. Many were the icons purporting to have the inside track on commodities and precious metals who were intoning that commodities, gold and silver, rare earths and uranium had formed a bubble and should be shorted. Moreover, they sounded the death knell of the uranium and rare earth sectors. Paraphrasing P.T. Barnum's admonition, "There is a sucker born every minute…Every second round the clock, like dandelions up they pop." The naysayers were wrong. Gold Stock Trades nailed the bottom in the junior miners. We are continuing to witness strong upward moves across the board in our natural resource selections vindicating our consistent and resolute stance to keep an eagle's eye on staying the course. It is increasingly possible that we may have seen the bottom in our chosen sectors and our mantra should be reflected commensurate with a powerful, unexpected upward rally which is the mirror image of the recent downswing. This may be a characteristic "V-Shaped Reversal" which technically is the hardest to forecast but among the most profitable and powerful of all chart patterns. We are encouraged by this upmove, but we must remember there will be volatility and profit taking as resistance levels have to be regained. Gold is finding support at its uptrend and 52 week moving average. An important news item surfaced in 2011, in which attention must be paid. Cristina Fernandez flushed with a landslide victory in the Argentinian election, announced plans to repatriate the assets of mining companies in Argentina. At this stage of the game, the definitive scenario is a work in progress. What will be the effect on the proposed merger on Argentinian miners? We have also been concerned about lawlessness down in Mexico due to the drug cartels. How will this affect the gold and silver miners in these two countries? Listen to my recent interview with Rob McEwen where I posed these questions by clicking here… Also check out my recent interviews with CEO's of very exciting and well managed gold companies: Ken Cunningham of Miranda Gold George Salamis of Edgewater Exploration Disclosure: Long GLD,MUX,MRDDF,EDWZF and CORVF
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| Gold's Bullish Would-Be Bears Posted: 16 Mar 2012 06:17 AM PDT Gold Prices are horribly correlated with the stock market right now. Not that it matters...
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| Posted: 16 Mar 2012 06:17 AM PDT |
| Posted: 16 Mar 2012 06:16 AM PDT Dear CIGAs, At 11:30am this morning the Whistle Blower comment reported yesterday was deleted from the CFTC web page. According to comments made in the euro press, the Fed is in arrears concerning gold audits due to countries storing gold with the New York Federal Reserve Bank.
Jim Sinclair's Commentary If the market Continue reading In The News Today
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| Pierre Lassonde: Upside 'Fireworks' Ahead For Gold Posted: 16 Mar 2012 06:06 AM PDT "It's too soon to breath a sigh of relief expecting that the worst might be over. I sure hope it is, but I wouldn't bet the ranch on it myself. " ...
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| Posted: 16 Mar 2012 06:02 AM PDT London Gold Market Report from Ben Traynor BullionVault Friday 16 March 2012, 09:15 EDT THE SPOT MARKET gold price dropped to $1641 an ounce shortly after US market open – a 4.4% fall on the week – as stocks and commodities were broadly flat, with stock markets looking set for a weekly gain by Friday lunchtime in London. On the currency markets, the Pound and Euro both rallied against the Dollar following the release of the latest US inflation data, while over in India the government announced it is to double its duty on gold imports as a percentage of the gold price. Silver prices fell to $32.14 per ounce – a 6.3% loss for the week as we headed towards the weekend. "Gold still appears to be taking a hit," says a report from German refiner Heraeus. "If it is to escape the downward trend in the short term, it will have to overcome the price resistance at $1726 per ounce...only then will it begin moving up again." "Near-term resistance ," add technical analysts at bul...
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Mickey Fulp, the Mercenary Geologist, is always trying to see the world in different ways. When you can break from the pack to gain unique insight into the way markets behave and participants react, there's a great potential for profits. When we talked to Mickey back in October, Platinum was trading below Gold, an occurrence that has happened only very rarely in the past. Every time it's happened before, Platinum has posted large gains, and this time has been no exception. Today, 3/16/12 it's at $1670; Mickey was a buyer at $1500. Now, it's back over Gold and the fundamentals look extremely favorable.
Rampant silver manipulation? Rampant gold manipulation? Rampant LIBOR manipulation? Hiding MF Global client assets? These are all happening at JP Morgan according to an open letter reportedly written by an anonymous employee of the firm. The whistleblower also warns of a "cascading credit event being triggered" by derivatives related to Greek government debt. Unlike 
Greece has now defaulted, and other eurozone governments as well as agencies such as the International Monetary Fund, European Central Bank and European Investment Bank have retrospectively inserted themselves as senior creditors, a precedent that should be of great concern and which has profound implications for private sector banks.
John Williams just warned that significant inflation will feed into the global system because of rising oil prices and the Fed's policy to debase the dollar. Williams, who founded ShadowStats, also warned the US dollar will take a major hit because of global "dollar dumping." Here is what Williams had to say about the situation: "With oil and gasoline prices pressured by market concerns over Middle Eastern political stability, monthly consumer inflation jumped in February and stabilized in the three-plus percentage range on a year-to-year basis."
It's the ultimate testimony to brand loyalty — people lining up around the block this morning to buy the latest iteration of Apple's iPad on its first day of release.
We won't try to make sense of a sociological phenomenon today. We'll just zero in on what you come here for: How can you make money from something like this?
"While I fully expect the mobile computing market to continue to grow," Ray continues, "I think there are better ways to invest in it than Apple."
There's precious little movement this morning in the major U.S. stock indexes. And if that seems familiar, no, we didn't send you yesterday's issue by accident.
Consumer prices moved up 0.4% last month in the skewed if not soused estimation of the Labor Department. Almost all of that was a function of higher gasoline prices.
Even the official inflation number was enough to put a scare into the bond market: After taking a breather yesterday, the yield on a 10-year Treasury is up to 2.32% this morning, the highest in nearly five months.
"Greg Smith's letter adds fuel to an idea going mainstream that the markets are a rigged game," says Chris Mayer of the Goldman Sachs exec who not only burned his bridges, but poisoned the river below the bridges by publicly resigning in The New York Times.
Gold has oscillated a bit in the last 24 hours, but remains about where it was when we wrote yesterday — $1,657. Silver is off a couple of pennies, to $32.52.
Copper's moving up again today, to $3.892 per pound. Barring a dramatic market dislocation before day's end, it appears Abe Cofnas will go three-for-three with his "mock trades."
"Since you have been 'promoting' the trades recommended by Abe Cofnas in your recent 5 Min. Forecasts," a reader writes from Austria, "I would like to know what, exactly, is required to participate?"
"How did Obama fumble the recovery when the recovery is here?" a reader inquires huffily. "Just more Republican BS?"
"Thanks, and just FYI…" as we get back to our Austrian reader to wind down the week, "I enjoy reading your daily commentaries."
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