Gold World News Flash |
- “Swift” Kick To The US Dollar
- Asia’s Golden Future
- Gold Seeker Weekly Wrap-Up: Gold and Silver End Near Unchanged on the Week
- Goldman Skewers Muppets Again: Worst Week For Stocks, Best for Long End Bonds
- Silver Update: 3/23/12 Unsustainable Debt
- The Fed, Gold, the SP 500, and the Retail Mindset
- “Swift” Kick To The US Dollar
- By the Numbers for the Week Ending March 23
- Jeff Clark: Are Gold Stocks Still Going to Bring the Anticipated Magic? Yes, Here?s Why
- Campbell: Balanced Opinions Regarding Gold & Silver are Paramount ? Here?s Why
- Ellis Martin Report with David Morgan March 23 2012
- Chilling Exchange
- James Turk: Chinese gold imports will keep increasing
- Corzine ordered MF Global customer money moved to Morgan, memo says
- Caesar Bryan - Central Banks Aggressively Buying Gold
- The Gold Price Close Up 0.4 Percent for the Week at $1,655.50 Must Hold Above the $1,627 Support
- Gold and Silver Disaggregated COT Report (DCOT) for March 23
- Hong Kong Merc to launch yuan-settled gold, copper futures by July
- You're Sure You Have Nothing to Hide?
- You’re Sure You Have Nothing to Hide?
- GFMS Global Head: "Buy This Gold Dip" as $2,000/oz Possible
- Hong Kong exchange to launch yuan-settled gold, copper futures
- The Morality of Putting One's Head in the Sand
- What Does Mali's Coup Mean for Miners?
- Ben Traynor: Gunning for gold
- Gold investors ditch equity funds, favor bullion
- Chris Duane on Deleting Facebook and Consumerism--03-23-2012
- High-frequency trading distorts commodity prices, study says
- Gold Stocks Panic Levels
- Gold investors ditch equity funds for bullion
| Posted: 23 Mar 2012 04:15 PM PDT by Jim Sinclair, JSMineset:
Today two events took place, one which has the capacity to make the recent low price of gold in the $1630s the low of this reaction (disappointing housing statistics), and another to fuel the gold price into its true 2012 range of $1700 – $2111 by this summer (utilization of selective lock out of the Swift system to India and others). For fuel into the true 2012 range of $1700 to $2111: "If a country doesn't prove it's making the necessary reductions by the end of June, any institution in that nation that settles petroleum trades through Iran's central bank will be cut off from the U.S. banking system." This is terribly ill advised and poorly timed. It smells like a threat of selective lockout via the Swift system.
| ||
| Posted: 23 Mar 2012 04:08 PM PDT by Alasdair Macleod, Gold Money:
The sharp lesson for nations in Asia is that their own trade security is best served by having an alternative settlement medium to the dollar and other Western currencies. This function historically belongs to gold, but that is a last resort for central banks, and besides, many Asian central banks are gold-poor. This plays into China's hands.
| ||
| Gold Seeker Weekly Wrap-Up: Gold and Silver End Near Unchanged on the Week Posted: 23 Mar 2012 04:00 PM PDT Gold steadily rose throughout most of world trade and ended near its late session high of $1666.22 with a gain of 1.23%. Silver surged to as high as $32.26 and ended with a gain of 2.26%.
| ||
| Goldman Skewers Muppets Again: Worst Week For Stocks, Best for Long End Bonds Posted: 23 Mar 2012 03:36 PM PDT from Zero Hedge:
| ||
| Silver Update: 3/23/12 Unsustainable Debt Posted: 23 Mar 2012 02:53 PM PDT from BrotherJohnF: Software Provided By Netdania.com http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-…
| ||
| The Fed, Gold, the SP 500, and the Retail Mindset Posted: 23 Mar 2012 02:51 PM PDT The recent rally has been breathtaking, however the majority of investors have missed out on a large portion of these gains as significant levels of cash have been either moved to bond funds or taken out of equity markets consistently ... Read More...
| ||
| “Swift” Kick To The US Dollar Posted: 23 Mar 2012 02:47 PM PDT My Dear Extended Family, Today two events took place, one which has the capacity to make the recent low price of gold in the $1630s the low of this reaction (disappointing housing statistics), and another to fuel the gold price into its true 2012 range of $1700 – $2111 by this summer (utilization of Continue reading "Swift" Kick To The US Dollar
| ||
| By the Numbers for the Week Ending March 23 Posted: 23 Mar 2012 02:42 PM PDT Tthis week's closing table.
| ||
| Jeff Clark: Are Gold Stocks Still Going to Bring the Anticipated Magic? Yes, Here?s Why Posted: 23 Mar 2012 02:16 PM PDT We're invested in gold stocks not just to make money, but for the chance to change our lifestyles and with their lackadaisical [dare I say dismal] year-to-date performance, one may begin to wonder if they're still going to bring the magic. [Here are my views on the subject.] Words: 740 So says Jeff Clark ([url]www.caseyresearch.com[/url])**in edited excerpts from an article* which Lorimer Wilson, editor of www.munKNEE.com has further edited the article 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: While the answer will depend as much on the individual investor as it does the market, let's look at some historical patterns to get a hint as to how similar or different our situation is to past bull markets, as well as what realistic expectations we can hold about the future… 1. Gold stocks underperformed gold for two years prior ...
| ||
| Campbell: Balanced Opinions Regarding Gold & Silver are Paramount ? Here?s Why Posted: 23 Mar 2012 02:16 PM PDT * If you hold, or are considering holding, physical gold or silver or both, [it is imperative that you] read as many ‘balanced opinions’ as you possibly can with respect to ownership of each. [Here's why]. Words:*337 So says Ian R. Campbell of www.StockResearchPortal.com in his latest Economic & Resource Stocks Commentary (subscription required) which Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!), has edited below for length and clarity. This paragraph must be included in any article re-posting to avoid copyright infringement. Campbell goes on to say: Note I specifically have said ‘balanced opinions‘ [and, therefore,*you should beware of]: [LIST] [*]‘vested interest’ commentators who have made direct or intellectual bets on physical gold and silver going up in price typically spend a great deal of time advocating physical gold and/or silver ownership. Often these commentators repetitively and aggressively advance their con...
| ||
| Ellis Martin Report with David Morgan March 23 2012 Posted: 23 Mar 2012 01:36 PM PDT from OpportunityShow: Ellis Martin interviews David Morgan in the second of a three part discussion. Mr. Morgan recently posted a video on Youtube entitled, "Silver is the Achilles Heel to the Entire Economic System" http://www.youtube.com/watch?v=QHc4Vp4I9_I Mr. Martin chose to ask about the reasoning for putting together such a piece as well as attempting to identify the audience for such a message as well as the purpose for it. Is trading in silver and gold usurping the system? Dr. Ron Paul weighs in before Congress and Chairman Bernanke on the subject in the referenced video.
| ||
| Posted: 23 Mar 2012 01:09 PM PDT The following is automatically syndicated from Grandich's blog. You can view the original post here. Stay up to date on his model portfolio! March 23, 2012 04:05 PM I originally saw this Washington exchange and said to myself I wish everybody I speak to could have witnessed this. Then I read the below commentary in Bill Murphy’s daily commentary about the exchange: How Much Treasury Debt? If this doesn’t scare the shit out of you – and scare you out of paper dollars and into real assets like gold and silver – then you are either brain dead or you just don’t care anymore. Tim Geithner (along with Bernanke) was testifying before the House Committee on Government Oversight and Reform yesterday. Congressman Trey Gowdy (R-SC) – in a display of forcing Geithner to answer a question directly that Ron Paul should take notes on – asked Geithner if he had only ONE more debt increase request that could possibly be made, how big would it be....
| ||
| James Turk: Chinese gold imports will keep increasing Posted: 23 Mar 2012 12:51 PM PDT 8:57p ET Friday, March 23, 2012 Dear Friend of GATA and Gold: GoldMoney founder and GATA consultant James Turk writes that China's influence on the gold market is exploding because its domestic mine production can no longer meet domestic demand, and this influence will be bullish. Turk's commentary is headlined "Chinese Gold Imports Will Keep Increasing" and it's posted at GoldMoney here: http://www.goldmoney.com/gold-research/james-turk/chinese-gold-imports-w... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Prophecy Platinum (TSXV: NKL) and Ursa Major Minerals Company Press Release VANCOUVER, British Columbia, Canada -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) and Ursa Major Minerals Inc. have signed a binding letter of agreement for a business combination through a proposed all-share transaction. In doing so Prophecy and Ursa have acted at arm's length and the transaction has been negotiated at arm's length. Prophecy will issue one common share in exchange for every 25 outstanding common shares of Ursa. Ursa options and warrants will be exchanged for options and warrants of Prophecy on an agreed schedule. Prophecy's offer represents a value of about $0.15 per each common share of Ursa based on Prophecy's share price of $3.70 as at March 1, representing a premium of 130 percent to Ursa's March 1 closing price of $0.065. Prophecy is to subscribe for $1 million common shares of Ursa by way of private placement financing at $0.06 per share, subject to regulatory approval. Upon placement completion, John Lee and Greg Hall, current Prophecy directors, will be appointed to Ursa's board. Prophecy thus will become a mid-tier resource company with a robust and -- The fully permitted open-pit Shakespeare PGM-Ni-Cu mine close to Sudbury, Ontario, infrastructure with near-term production capabilities. -- The flagship Wellgreen (Yukon) PGM-Ni-Cu project with more than 10 million ounces of Pt-Pd-Au inferred resource. Drilling is under way and a preliminary economic assessment study is pending. -- Manitoba's Lynn Lake Ni-Cu project with more than 262 million pounds Ni and 138 million pounds Cu measured and indicated. For the complete announcement, please visit Prophecy Platinum's Internet site here: http://www.prophecyplat.com/news_2012_mar02_prophecy_platinum_ursa_major... Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT Sona Discovers Potential High-Grade Gold Mineralization From a Company Press Release VANCOUVER, British Columbia -- With its latest surface diamond drilling program at its 100-percent-owned, formerly producing Blackdome gold mine in southern British Columbia, Sona Resources Corp. has discovered a potentially high-grade gold-mineralized area, with one hole intersecting 13.6 grams of gold in 1.5 meters of core drilling. "We intersected a promising new mineralized zone, and we feel optimistic about the assay results," says Sona's president and CEO, John P. Thompson. "We have undertaken an aggressive exploration program that has tested a number of target zones. Our discovery of this new gold-bearing structure is significant, and it represents a positive development for the company." Sona aims to bring its permitted Blackdome mill back into production over the next year and a half, at a rate of 200 tonnes per day, with feed from the formerly producing Blackdome mine and the nearby Elizabeth gold deposit property. A positive preliminary economic assessment by Micon International Ltd., based on a gold price of $950 per ounce over eight years, has estimated a cash cost of $208 per tonne milled, or $686 per gold ounce recovered. For the company's complete press release, please visit: http://www.sonaresources.com/_resources/news/SONA_NR18_2011-opt.pdf
| ||
| Corzine ordered MF Global customer money moved to Morgan, memo says Posted: 23 Mar 2012 12:31 PM PDT By Phil Mattingly and Silla Brush http://www.bloomberg.com/news/2012-03-23/mf-global-s-corzine-ordered-fun... WASHINGTON -- Jon S. Corzine, MF Global Holding Ltd.'s chief executive officer, gave "direct instructions" to transfer $200 million from a customer fund account to meet an overdraft in a brokerage account with JPMorgan Chase & Co., according to a memo written by congressional investigators. Edith O'Brien, a treasurer for the firm, said in an e-mail quoted in the memo that the transfer was "Per JC's direct instructions," according to a copy of the memo obtained by Bloomberg News. The e-mail, dated Oct. 28, was sent three days before the company collapsed, the memo says. The memo does not indicate whether that phrase was the full text of the e-mail or an excerpt. O'Brien's internal e-mail was sent as the New York-based broker found intraday credit lines limited by JPMorgan, the firm's clearing bank as well as one of its custodian banks for segregated customer funds, according to the memo, which was prepared for a March 28 House Financial Services subcommittee hearing on the firm's collapse. O'Brien is scheduled to testify at the hearing after being subpoenaed this week. ... Dispatch continues below ... ADVERTISEMENT Sona Discovers Potential High-Grade Gold Mineralization From a Company Press Release VANCOUVER, British Columbia -- With its latest surface diamond drilling program at its 100-percent-owned, formerly producing Blackdome gold mine in southern British Columbia, Sona Resources Corp. has discovered a potentially high-grade gold-mineralized area, with one hole intersecting 13.6 grams of gold in 1.5 meters of core drilling. "We intersected a promising new mineralized zone, and we feel optimistic about the assay results," says Sona's president and CEO, John P. Thompson. "We have undertaken an aggressive exploration program that has tested a number of target zones. Our discovery of this new gold-bearing structure is significant, and it represents a positive development for the company." Sona aims to bring its permitted Blackdome mill back into production over the next year and a half, at a rate of 200 tonnes per day, with feed from the formerly producing Blackdome mine and the nearby Elizabeth gold deposit property. A positive preliminary economic assessment by Micon International Ltd., based on a gold price of $950 per ounce over eight years, has estimated a cash cost of $208 per tonne milled, or $686 per gold ounce recovered. For the company's complete press release, please visit: http://www.sonaresources.com/_resources/news/SONA_NR18_2011-opt.pdf "Over the course of that week, MF Global's financial position deteriorated, but the firm represented to its regulators and self-regulatory organizations that its customers' segregated funds were safe," said the memo, written by Financial Services Committee staff and sent to lawmakers. Steven Goldberg, a spokesman for Corzine, said in a statement that Corzine "never gave any instruction to misuse customer funds and never intended anyone at MF Global to misuse customer funds." Vinay Mahajan, global treasurer of MF Global Holdings, wrote an e-mail on Oct. 28 that said JPMorgan was "holding up vital business in the U.S. as a result" of the overdrawn account, which had to be "fully funded ASAP," according to the memo. Barry Zubrow, JPMorgan's chief risk officer, called Corzine to seek assurances that the funds belonged to MF Global and not customers. JPMorgan drafted a letter to be signed by O'Brien to ensure that MF Global was complying with rules requiring customers' collateral to be segregated. The letter was not returned to JPMorgan, the memo said. The money transferred came from a segregated customer account, according to congressional investigators. Segregated accounts can include customer money and excess company funds. Corzine, 65, in testimony in front of the House panel in December, said he did not order any improper transfer of customer funds. Corzine also testified that he never intended a misuse of customer funds at MF Global and that he doesn't know where client funds went. "I never gave any instruction to misuse customer funds, I never intended anyone at MF Global to misuse customer funds, and I don't believe that anything I said could reasonably have been interpreted as an instruction to misuse customer funds," Corzine told lawmakers in December. In his statement, Goldberg said Corzine did not specify which funds should be used to replenish the JPMorgan account. "He never directed Ms. O'Brien or anyone else regarding which account should be used to cure the overdrafts, and he never directed that customer funds should be used for that purpose," Goldberg said. "Nor was he informed that customer funds had been used for that purpose." The bankruptcy trustee overseeing the liquidation of the company's brokerage subsidiary has estimated a $1.6-billion shortfall between customer claims and assets available. Lawmakers and investigators from the Commodity Futures Trading Commission, Securities and Exchange Commission, and Department of Justice have been reviewing events leading to MF Global's bankruptcy filing. Executives including Corzine, a Democrat who served in the Senate before he was elected governor of New Jersey, gave testimony on the collapse at three congressional hearings last year. "If client funds were transferred at his direction, it raises new questions," Seth Berenzweig, managing partner at Berenzweig Leonard LLP, a law firm in McLean, Virginia, said in an interview with Bloomberg Television. "This is a new storm cloud that is now headed for Jon Corzine and it raises a lot of issues." U.S. Rep. Randy Neugebauer, a Texas Republican and chairman of the Financial Services oversight and investigations subcommittee, is preparing a final report on his investigation into the firm's failure. "One of the goals of our investigation is not only to find out where the money went but to identify what went wrong in order to prevent this from happening again," Neugebauer said in a statement. O'Brien is scheduled to appear before lawmakers with Christine Serwinski and Laurie Ferber, two other MF Global executives named by Corzine as being involved in the transaction, according to the memo. Henri Steenkamp, the firm's chief financial officer, is also scheduled to testify, as is a representative from JPMorgan who has not yet been identified. MF Global and its brokerage sought Chapter 11 bankruptcy after a $6.3 billion bet on the bonds of some of Europe's most indebted nations prompted regulator concerns and a credit rating downgrade. Corzine quit MF Global Nov. 4. During his testimony, O'Brien was identified by Corzine as someone with knowledge of a transfer of funds from customer accounts before the firm sought bankruptcy protection Oct. 31. Reid H. Weingarten, O'Brien's lawyer, did not immediately respond to a phone call and e-mail seeking comment. The memo's account of the e-mail exchanges aligns with what Terrence Duffy, the executive chairman at CME Group Inc., told lawmakers during a December congressional hearing. Auditors at CME, which had authority to oversee MF Global, learned from an employee of the brokerage that Corzine knew about the loans involving a European affiliate, Duffy told committee members. Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT Prophecy Platinum (TSXV: NKL) and Ursa Major Minerals Company Press Release VANCOUVER, British Columbia, Canada -- Prophecy Platinum Corp. (TSX-V: NKL, OTC-QX: PNIKF, Frankfurt: P94P) and Ursa Major Minerals Inc. have signed a binding letter of agreement for a business combination through a proposed all-share transaction. In doing so Prophecy and Ursa have acted at arm's length and the transaction has been negotiated at arm's length. Prophecy will issue one common share in exchange for every 25 outstanding common shares of Ursa. Ursa options and warrants will be exchanged for options and warrants of Prophecy on an agreed schedule. Prophecy's offer represents a value of about $0.15 per each common share of Ursa based on Prophecy's share price of $3.70 as at March 1, representing a premium of 130 percent to Ursa's March 1 closing price of $0.065. Prophecy is to subscribe for $1 million common shares of Ursa by way of private placement financing at $0.06 per share, subject to regulatory approval. Upon placement completion, John Lee and Greg Hall, current Prophecy directors, will be appointed to Ursa's board. Prophecy thus will become a mid-tier resource company with a robust and -- The fully permitted open-pit Shakespeare PGM-Ni-Cu mine close to Sudbury, Ontario, infrastructure with near-term production capabilities. -- The flagship Wellgreen (Yukon) PGM-Ni-Cu project with more than 10 million ounces of Pt-Pd-Au inferred resource. Drilling is under way and a preliminary economic assessment study is pending. -- Manitoba's Lynn Lake Ni-Cu project with more than 262 million pounds Ni and 138 million pounds Cu measured and indicated. For the complete announcement, please visit Prophecy Platinum's Internet site here: http://www.prophecyplat.com/news_2012_mar02_prophecy_platinum_ursa_major...
| ||
| Caesar Bryan - Central Banks Aggressively Buying Gold Posted: 23 Mar 2012 12:07 PM PDT banks have been accumulating a great deal of physical gold at these lower levels, there's a bit of a tug of war between futures market & the physical market.
| ||
| The Gold Price Close Up 0.4 Percent for the Week at $1,655.50 Must Hold Above the $1,627 Support Posted: 23 Mar 2012 10:50 AM PDT Gold Price Close Today : 1,662.30 Gold Price Close 16-Mar : 1,655.50 Change : 6.80 or 0.4% Silver Price Close Today : 3224.8 Silver Price Close 16-Mar : 3257.3 Change : -32.50 or -1.0% Gold Silver Ratio Today : 51.547 Gold Silver Ratio 16-Mar : 50.824 Change : 0.72 or 1.4% Silver Gold Ratio : 0.01940 Silver Gold Ratio 16-Mar : 0.01968 Change : -0.00028 or -1.4% Dow in Gold Dollars : $ 162.67 Dow in Gold Dollars 16-Mar : $ 165.23 Change : $ (2.56) or -1.6% Dow in Gold Ounces : 7.869 Dow in Gold Ounces 16-Mar : 7.993 Change : -0.12 or -1.6% Dow in Silver Ounces : 405.63 Dow in Silver Ounces 16-Mar : 406.24 Change : -0.61 or -0.2% Dow Industrial : 13,080.73 Dow Industrial 16-Mar : 13,232.55 Change : -151.82 or -1.1% S&P 500 : 1,397.11 S&P 500 16-Mar : 1,404.16 Change : -7.05 or -0.5% US Dollar Index : 79.366 US Dollar Index 16-Mar : 79.801 Change : -0.435 or -0.5% Platinum Price Close Today : 1,626.20 Platinum Price Close 16-Mar : 1,672.70 Change : -46.50 or -2.8% Palladium Price Close Today : 659.20 Palladium Price Close 16-Mar : 697.80 Change : -38.60 or -5.5% GOLD PRICE surprised everyone today by jumping $20 to close $1,662.30. Short covering before the weekend could account for that, but gold also closed up 0.4% this week, even after some terrible days. The GOLD PRICE has caught on an internal support line, but if it breaks down through $1,627, it will hit the skids. By no means out of danger yet. The SILVER PRICE lost 1% this week, but came back smartly from a 3107c low for the week. This leaves behind a V-bottom, which well might mark the farthest extent of silver's drop. However, more proof is needed. Silver must climb above 3250c then 3300c before it regains credibility. Next week silver must not drop below 3100c, or will pay 3000c a visit. The end to this correction for the SILVER and GOLD PRICE is not far away, two weeks at most, I suspect. Yes, we might have seen it already, but we'll know that if we get a confirmation like this: a rise to 3300c, then a fall back to 3150c but no lower. What an odd week. Silver and gold fell off, but ended the week higher or about even. Stocks proved unable to move higher, and fell back. Dollar still hanging on by fingernails, but platinum and palladium took a huge beating. The Dow in Gold Dollars (Dow Industrials average valued in gold) did NOT manage to break out this week, which casts more doubt on stocks' rise. For all the noise about last Friday's high, the Dow couldn't hold on up there and lost 1.1% to end just 80 points above 13,000, at 13,080.73, up 34.59 points (0.27%) on the day. S&P500 remains below the morale-whacking 1,400 line. Gained 4.33 today (0.31%) to close at 1,397.11. Stocks are not far from some sort of high that will remain historic for a long time, that is, they won't get that high again for a long time. The US DOLLAR INDEX fell today to the bottom of its three week range -- again. Fell 37 basis points (0.48%) to 79.366. That points the dollar's momentum down, as it pushes it below its 50 day moving average (79.46) and its 20 DMA (79.46). For now I can only say, it remains range-bound unless it closes below 79. Yen bounced up 0.26% today to 121.47. Last three days the yen has gapped up off a bottom and jumped higher. Penetrated but did not close above its 20 DMA. Closed today at 121.47c/Y100 (Y82.32/US$1). Euro climbed over its 20 DMA (1.3212) to end at $1.3270, up 0.55%. Don't climb on that sinking boat -- the Euro still has $1.2000 in its future. SPECIAL OFFER YET ANOTHER SILVER CLEARANCE I don't usually stock the pre-1936 US silver dollars, because they trade at a fairly high premium over their silver content. I also don't like to stock them because they are so lovely that I cannot turn loose of them, and that is not a businesslike sentiment. Over some long time I have accumulated a pile of silver dollars, and I am selling these at 75 cents over the wholesale price, just to see them fly. I have six lots of them, sold on a first-come, first-served basis. I am sorry, but once these are sold, I cannot re-order at these prices. When they're gone, they're gone. LOT No. 1, One hundred (100) pre-1905 Morgan silver dollars, various dates and mint marks. The Morgan silver dollar was minted from 1878 through 1904 at San Francisco, New Orleans, Philadelphia, and Carson City. These coins all grade strictly VG (Very Good) or better, and contain 0.765 troy ounce of silver. At $29.75 each, this lot costs $2,975 + $25 shipping, a total of $3,000.00 LOT No. 2, Fifty-six (56) pre-1905 Morgans and Forty-five (45) 1921 Morgans, all strictly VG or better, $29.75 each. This lot of 101 coins costs $3,004.75 + $25 shipping, a total of $3,029.75. LOT No. 3, One hundred Twenty-four (124) PEACE dollars minted from 1921 - 1935. This design was placed on the dollar to celebrate the end of World War I. All are strictly graded VG or better. At $28.75, this 124 piece lot costs $3,565 plus $25 shipping, a total of $3,590.00. LOT No. 4, One hundred CULL silver dollars, graded LESS than VG. One reason I don't like to trade in dollars is that so many dealers fudge the grading. You order VG or better, but you get coins that are too worn, rim-dinged, or even holed. These are coins I have culled out for rim dings or scratches or some other flaw that disqualifies them for a strict VG grade, even though otherwise they might grade Extremely Fine (XF) or better. Might be good for barter, because I've never met anybody who wouldn't jump at a silver dollar, even a slick one. At $27.05 each, this lot of 100 cull dollars costs $2,705.00 + $25 shipping, for a total of $2,730.00 LOT No. 5, Ninety-nine (99) CULL silver dollars, graded LESS than VG. At $27.05 each, this lot costs $2,677.95 + $25 shipping or a total of $2,702.95. LOT No. 6, Forty-eight (48) Brilliant Uncirculated (BU) pre-1905 Morgan silver dollars. These are not certified or slabbed, but they are uncirculated. Each coin grades BU or better, and contains 0.7734 troy ounce of fine silver. At $45 each (one dollar over wholesale) this lot of 48 costs $2,160.00 + $25 shipping for a total of $2,185.00. Yes, you may order as many lots as you please, but I'm sorry, no re-orders or back-orders at these prices. Offer ends when my supply runs out. All coins are sold "as is." ONE LAST THING. I have counted and counted these coins, but the silver termites might have gotten to them since then. My count may be short by as many as Five (5) coins. If so, I will reduce the invoice by that amount. Special Conditions: First come, first served, and no re-orders at these prices. I will enter orders based on the time I receive your e-mail at franklin@the-moneychanger.com. We will not take orders for less than the minimums shown above. All sales on a strict "no-nag" basis. If you pay by check, we allow Two weeks (14 days) for your check to clear before we ship. Calls looking for your order two days after we receive your check will be politely and patiently rebuffed. If you want faster shipping, please send a wire. Spot silver basis for all prices above is $32.25 ORDERING INSTRUCTIONS: 1. You may order by e-mail only to franklin@the-moneychanger.com. No phone orders, please. Your email must include your complete name, address, and phone number. We cannot ship to you without your address. Sorry, we cannot ship outside the United States or to Tennessee. Repeat, your email must include your complete name, address, and phone number. We can no longer read minds. 2. Orders are on a first-come, first-served basis until supply is exhausted. 3. "First come, first-served" means that we will enter the orders in the order that we receive them by e-mail. 4. If your order is filled, we will e-mail you a confirmation. If you do not receive a confirmation, your order was not filled. 5. You will need to send payment by personal check or bank wire (either one is fine) within 48 hours. It just needs to be in the mail, not in our hands, in 48 hours. 6. We allow fourteen (14) days for personal checks to clear before we ship. If your hurry is greater than that, you can send a bank wire. Once we ship, the post office takes four to fourteen days to get the registered mail package to you. All in all, you'll see your order in about one month if you send a check. 7. Mention Goldprice.org in your email. Y'all enjoy your weekend! Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com 888-218-9226 10:00am-5:00pm CST, Monday-Friday © 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. 
| ||
| Gold and Silver Disaggregated COT Report (DCOT) for March 23 Posted: 23 Mar 2012 10:41 AM PDT SOUTHEAST TEXAS -- This week's Commodity Futures Trading Commission (CFTC) disaggregated commitments of traders (DCOT) report shows considerable short covering by the traditional hedgers on a $23 decline in the price of gold and a $1.26 fall in Cash Market silver. As of Tuesday Managed Money was still of a mood to reduce long exposure. Interestingly, traders classed as "Other Reportables" were notably on the buy side this week. All of the trader's positions are calculated net of spreading contracts as of the Tuesday disaggregated COT report.
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.
| ||
| Hong Kong Merc to launch yuan-settled gold, copper futures by July Posted: 23 Mar 2012 09:45 AM PDT 23-Mar (Reuters) — The Hong Kong Mercantile Exchange (HKMEx) plans to launch yuan-settled gold and copper futures by July, its president said on Friday, as it looks to tap growing interest in commodities from Chinese investors. Albert Helmig also told reporters in Shanghai that the bourse would offer yuan-denominated contracts for other industrial metals in the next 12 months. [source] PG View: This is interesting because not only do we get yet another gold derivative product (paper gold), but the contract is settled in yuan, further diminishing the dollar as the global reserve currency.
| ||
| You're Sure You Have Nothing to Hide? Posted: 23 Mar 2012 09:40 AM PDT March 23, 2012 [LIST] [*]"If you're innocent, you have nothing to hide." So why will the government store information on innocent Americans for up to five years? [*]The Hunger Games: Scenes from a not-too-distant American future? Seeking an escape hatch in a country offering "very attractive returns" [*]Whether it's Big Macs or iPads, a globe-trotting Abe Cofnas finds reasons not to like this popular "commodity currency" [*]The 5's special service for nervous readers: The chart that tells Frank Holmes gold will "go the distance" [*]A two-year housing hangover... a blunder even the IRS hasn't committed yet... reader snipes about "gated communities"... and more! [/LIST] As of this morning, the federal government now asserts the authority to store information about American citizens for up to five years. "Until now," reports The Associated Press, "the National Counterterrorism Center had to immediately destroy information about Americans that was already stored in ...
| ||
| You’re Sure You Have Nothing to Hide? Posted: 23 Mar 2012 09:26 AM PDT Addison Wiggin – March 23, 2012
"Until now," reports The Associated Press, "the National Counterterrorism Center had to immediately destroy information about Americans that was already stored in other government databases when there were no clear ties to terrorism." Presumably, the intel will end up in the Utah Data Center we wrote about Monday once that facility opens up 18 months from now. We don't know, but these are just the types of news nuggets that have attendees here at The Rancho Santana Sessions squirming uneasily.
Does it matter whether either case had anything to do with how long data have been stored? Well, no. The Fort Hood shooter slipped through the cracks because one government agency failed to share its information with another agency. And similar bureaucratic snafus kept the underbomber off the no-fly list. Meaning, their data wouldn't have been kept for any length of time under their new authority. "But thanks to this measure pushed through in almost complete secrecy," writes blogger Marcy Wheeler, "when they declare — say — your church a terrorist organization in three years' time, they'll have records of your association with it in a database in Utah."
The books on which the movie's based are set in a future North American dictatorship called Panem (Latin for "bread") in which televised circuses are staged between teenagers who fight to the death — the sole survivor among 12 contestants bringing home food and glory for his or her home district. Turns out that in 2012, dystopia is back… at least in the estimation of the bookworms who populate the website Goodreads. The webmasters there have analyzed all the site's reviews of books published in the last century. The last time dystopian books were this big was when the McCarthy era was winding down…  Indeed, The Hunger Games is giving 1984 a run for its money as the most popular dystopian novel among Goodreads members.
 We're hosting 30 Reserve members eager to seek out alternatives to the dystopia the United States is rapidly becoming. Some of them are looking to relocate. Others are simply looking for a place to park some of their funds farther away from Uncle Sam's greedy grasp. The chart Chris speaks of is this…  It shows where Nicaragua got its electricity last year… and where it will likely get it by 2017. "Thermal" in this case is a term that means… oil. That's right. Two-thirds of Nicaragua's electricity needs are met by burning oil — a practice that ended in most of the developed world after the oil shocks of the '70s. Result: the poorest economy in Central America, with the highest energy costs to boot. The government is encouraging massive investment to alter that energy "mix" — so that renewable sources will meet almost all the nation's electricity needs by 2017. About half of those renewables will come from a massive hydropower project. Meanwhile, infrastructure spending is up… the population is young… the land is fertile… and foreign direct investment nearly doubled last year. "Open and free markets work everywhere when you let them," says the richest man in Nicaragua, Carlos Pellas Chamorro. He's the controlling shareholder of a conglomerate called Grupo Pellas. "Of course, there are many obstacles in Nicaragua, as in all emerging nations… Many sophisticated foreign investors like Citibank, GE, Grupo Roble, Cemex, America Movil, Telefonica, PriceSmart, Wal-Mart, Cargill and many others have invested large sums of money in Nicaragua, obtaining very attractive returns." [Ed. Note: As mentioned above, not everyone in attendance at the Sessions is looking to relocate — to Nicaragua or anywhere else. They're seeking new frontiers for their capital. Today, our expert panelists are turning to the nuts-and-bolts issues of implementing concrete asset-protection strategies. What are the legal hurdles? The tax implications? The estate-planning issues? Can you invest a portion of an IRA — or all of it — overseas? Even if you're not here, you can gain access to the answers with a complete set of audio recordings of The Rancho Santana Sessions. We expect to release them about one week from today; you can have them in your inbox as soon as our sound techs perform their professional magic and convert the Sessions to MP3 files. It's the same information our intimate group of readers is getting down here today... but it will cost you far less. You'll want to move on it today... before the price goes up 50% come next Tuesday.]
There was some excitment midmorning when Apple experienced a "flash crash" — dropping 9% on a single trade. The excitement was over in a half hour and shares are close to $600 again… but this is the kind of nonsense that reinforces our conviction in our "sell Apple" call. The Dow, meanwhile, is up a bit — which is excellent news for our "mock trade." Abe Cofnas suggested it on Monday — a bet the Dow would end the week above 12,975. So far, so good. Looks as if Abe will go 4 for 4 on these mock trades. This week's good for a up to a 19% payout.
"A double cheeseburger here is $4.20 AUD; in the United States, it is $1.29. A Whopper is $5.10 AUD; in the United States, it is $3. A McDonald's Big Mac goes for A$7.35, but only $4.07 in the United States. A McDonald's cheeseburger is A$4.25 here and 99 cents in the United States." "An emerging new comparative indicator that may very well replace the Big Mac indicator of currency overvaluation/undervaluation is the iPad. A new iPad with Wi-Fi and 64 gigabytes in the Sydney Apple store costs $759. In the United States, it is $699. This represents an overvaluation of 8.5%." "So my take-away is that investors should stay away from eating burgers in Australia, and we should continue to short the AUD/USD against the dollar." If you'd like to play Abe's fast-paced trades for real, you can learn much more at this link.
The number's been stuck in a range ever since the homebuyer tax credit expired in the spring of 2010. Imagine that…
"The U.S. debt situation hasn't been on investors' radar for a while," says perennial Vancouver favorite Frank Holmes, "but it's still a significant factor in gold's eventual recovery." "The chart below shows the condition of all Federal Reserve Banks' total assets over the last 10 years. During 2008, total assets jumped vertically, and since then, the Fed's balance sheet has maintained a much-higher level":  "In addition," says Frank, "real interest rates are still negative for many areas around the world. Historically, negative real interest rates (the inflationary rate is greater than the current interest rate) combined with global stimulative money supply efforts have been an especially powerful combination for gold prices." "I believe the yellow metal will go the distance, and with bullion below its long-term average, it makes for a rare and attractive entry point for investors today." In other words, Frank suggests the recent pullback is a good buying opportunity for gold investors.
Norway's tax agency displayed Kenneth Belcovski's records to everyone who visited its website. Mr. Belcovski is a 36-year-old business consultant. His Social Security number, income, mortgage payments and a vast array of other personal information is now in the hands of… well, everyone who recently visited the tax agency's website. "Although Norwegians are able to check online some of the income details of public figures — including the king and the prime minister — the recent breach goes far beyond what is considered acceptable," says a rather understated Reuters report. "I don't have anything else to add to what has been reported," says an equally understated Belcovski when asked to comment.
"Boy, the states that pay little but get much would stand up and take notice! Let's DO IT!" The 5: You might be surprised which states "pay little but get much." In fact, we updated that very information in the latest issue of Apogee Advisory.
"Gated communities are the epitome of everything that's wrong with the U.S. — the wealthy 1% living isolated from and in fear of the 99%. So now you want to export that concept to Latin American countries?" "Way to set yourself up for resentment and hatred (and all that follows from hatred) from the locals. You take their best land, develop it and then lock them out. Sooner or later, all you folks living in gated communities will reap what you have sown." The 5: You're sure to be right. But unless you've been here, you probably should get off your high horse. We don't have time here in The 5 to describe our efforts to integrate with the community: the clinic, the technical school, support of the local baseball team, efforts to get a local airport built, maintenance of the roads out toward Tola and Rivas, the 200 or so community members who work here full time and/or the school where the children here get to interact with the local schoolchildren. For the record, we've been warned. Just today, a gentleman with a decade of experience doing business locally said, "If you decide to give the locals a gift, like a clinic, you'd better be prepared to do it forever. You automatically create a dependency issue. And before long they will hate you for it." But we would invite you to come down and check it all out for yourself.  Regards, Addison Wiggin P.S. You don't have to be part of the "1%" to benefit from the information conveyed by our expert panel here at The Rancho Santana Sessions. Fact is, almost anyone who's accumulated a modest amount of savings would do well to consider the offshore-investing guidance coming from today's speaker lineup. Don't miss out on a chance to listen in on these Sessions yourself. Order the MP3s today and lock in the best-available price.
| ||
| GFMS Global Head: "Buy This Gold Dip" as $2,000/oz Possible Posted: 23 Mar 2012 09:15 AM PDT "JPMorgan et al can keep this up as long as they think they can get more leveraged longs to sell." ...
| ||
| Hong Kong exchange to launch yuan-settled gold, copper futures Posted: 23 Mar 2012 09:07 AM PDT By Ruby Lian and Fayen Wong http://www.reuters.com/article/2012/03/23/hkmex-futures-idUSL3E8EN2BL201... SHANGHAI -- The Hong Kong Mercantile Exchange plans to launch yuan-settled gold and copper futures by July, its president said on Friday, as it looks to tap growing interest in commodities from Chinese investors. Albert Helmig also told reporters in Shanghai that the bourse would offer yuan-denominated contracts for other industrial metals in the next 12 months. Appetite for investment in commodities has risen dramatically in China over the last few years on the back of galloping prices, which have also led to more hedging demand from some companies. ... Dispatch continues below ... ADVERTISEMENT Golden Phoenix Discusses Royalty Mining Growth Strategy Golden Phoenix Minerals Inc. has discussed its royalty mining growth strategy on the Fox Business Network program "21st Century Business" with host Jackie Bales. Golden Phoenix's director of corporate communications, Robert Ian, told how the company narrows its focus to project generation and future royalty streams. He explained why Golden Phoenix believes it's better to own joint-venture interests in several producing mines instead of full exposure to just one project. "21st Century Business" has been airing for 15 years. Previous hosts have included Gen. Alexander Haig, Gen.l Norman Schwarzkopf, and Secretary of Defense Caspar Weinberger. Golden Phoenix appeared as paid programming on this broadcast. To view the program with Golden Phoenix, please visit Golden Phoenix's Internet site here: http://www.goldenphoenix.us/company-videos.html HKMEx benefits from the wall of restrictions governing Chinese derivatives trading, which prohibit Chinese nationals from participating in markets outside China and Hong Kong. China, which keeps a tight grip on its commodities market, also limits financial institutions from investing in commodity futures without special regulatory approval. HKMEx launched trading of U.S. dollar-settled gold and silver futures last year. 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 Be Part of a Chance to Discover Northaven Resources Corp. (TSX-V:NTV) is advancing five gold and silver projects in highly prospective and politically stable British Columbia, Canada. Check out the exploration program on our Allco gold/silver project : -- A large (13,000 hectare) property, covering more than 15 square kilometers of a regional mineralized trend just 3km from a recently announced 1.2-million-ounce gold and 15-million-ounce silver deposit. -- The property hosts historic high-grade silver workings and many mineral showings as well as former mines at the property's northern and southern boundaries. -- A deep-penetrating airborne geophysics survey has just been completed on the entire property and neighboring deposits and its results are eagerly awaited. To learn more about the Allco property or Northaven's other gold and silver projects, please visit: http://www.northavenresources.com Or call Northaven CEO Allen Leschert at 604-696-3600.
| ||
| The Morality of Putting One's Head in the Sand Posted: 23 Mar 2012 08:52 AM PDT Synopsis: Revealed – Why Berkshire Hathaway is the antithesis of gold; the hidden dangers of ETFs; and lessons from neighborhood junkies. Dear Reader, Vedran Vuk here, filling in again for David Galland. I'm not sure if David will be back next Friday – but don't worry, he's not gone forever. I'm sure that he'll come back to write one of his famously long issues which will more than make up for a few weeks away. Today, I want to talk about the small print in ETFs and whether it's that much different from an outright scam. A Casey Research correspondent shares his take on Warren Buffett's performance against gold in the last decade. We also have some other goodies plus the traditional Friday Funnies, so let's get started. The Difference Between Knowing and Pretending Not to Know By Vedran Vuk, Senior Analyst In the infamous case of the Goldman Sachs Abacus 2007 AC-1 fund, it doesn't take a whole lot to figure out the wrong...
| ||
| What Does Mali's Coup Mean for Miners? Posted: 23 Mar 2012 08:52 AM PDT A faction within Mali's military declared on state television that they had seized power in protest over the government's failure to suppress a rebellion in northern Mali. They also said the country's constitution had been temporarily suspended. Share prices of several miners with operations in Mali dropped heavily on the news. Avion Gold Corp. (AVR:TSX; AVGCF:OTCQX) and Randgold Resources Ltd. (GOLD:NASDAQ) each fell about 12% on March 22 and may fall further as the uncertainty persists. Avion operates the Tabakoto and Kofi mining operations, both of which are about 220 miles northwest of the capital, Bamako. Avion also holds the promising Houndé gold project in Burkina Faso. "All operations at Tabakoto and Kofi are running normally and are for the most part unaffected. Mali has had democratic rule for 20 years and we do not expect any change in the political orientation of the country or its peoples," said Avion president and CEO John Begeman in a statement. Randgold operates th...
| ||
| Posted: 23 Mar 2012 08:41 AM PDT 4:41p ET Friday, Marhc 23, 2012 Dear Friend of GATA and Gold: Ben Traynor of Bullion Vault elaborates on Turkey, India, and Vietnam, three countries whose government don't mind acknowledging that they have a big problem with freely trading gold, a competitive currency. Traynor's commentary is headlined "Gunning for Gold" and it's posted at GoldSeek here: http://news.goldseek.com/BullionVault/1332450695.php CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Be Part of a Chance to Discover Northaven Resources Corp. (TSX-V:NTV) is advancing five gold and silver projects in highly prospective and politically stable British Columbia, Canada. Check out the exploration program on our Allco gold/silver project : -- A large (13,000 hectare) property, covering more than 15 square kilometers of a regional mineralized trend just 3km from a recently announced 1.2-million-ounce gold and 15-million-ounce silver deposit. -- The property hosts historic high-grade silver workings and many mineral showings as well as former mines at the property's northern and southern boundaries. -- A deep-penetrating airborne geophysics survey has just been completed on the entire property and neighboring deposits and its results are eagerly awaited. To learn more about the Allco property or Northaven's other gold and silver projects, please visit: http://www.northavenresources.com Or call Northaven CEO Allen Leschert at 604-696-3600. Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT Golden Phoenix Discusses Royalty Mining Growth Strategy Golden Phoenix Minerals Inc. has discussed its royalty mining growth strategy on the Fox Business Network program "21st Century Business" with host Jackie Bales. Golden Phoenix's director of corporate communications, Robert Ian, told how the company narrows its focus to project generation and future royalty streams. He explained why Golden Phoenix believes it's better to own joint-venture interests in several producing mines instead of full exposure to just one project. "21st Century Business" has been airing for 15 years. Previous hosts have included Gen. Alexander Haig, Gen.l Norman Schwarzkopf, and Secretary of Defense Caspar Weinberger. Golden Phoenix appeared as paid programming on this broadcast. To view the program with Golden Phoenix, please visit Golden Phoenix's Internet site here: http://www.goldenphoenix.us/company-videos.html
| ||
| Gold investors ditch equity funds, favor bullion Posted: 23 Mar 2012 08:32 AM PDT 23-Mar (Reuters) — Investors keen on gold showed frustration at underperforming funds that invest in mining firms as liquidations extended for more than four straight months, while money flowed into funds that invest in the underlying metal, data from Lipper showed. Gold mining stocks have underperformed the metal over the last several years as companies struggled with rising costs and operational problems in far-flung locations, but the figures show an accelerating trend. …Over the past 12 months, precious metals equity funds shed 12.1 percent while underlying metal funds gained 6.8 percent. [source] PG View: The going price for an ounce of gold is just one of many factors that determine the price of a mining share. If exposure to the metal is what you want, buying that metal in its physical form is the most prudent path in most circumstances.
| ||
| Chris Duane on Deleting Facebook and Consumerism--03-23-2012 Posted: 23 Mar 2012 08:29 AM PDT Chris Duane has just done a new YouTube video about Deleting Facebook. He believes that this site is emblematic of what's wrong with American Culture and Society today. Every thing about it is superficial and unreal. How people look, the messages they communicate and the friends they claim to have but don't really. What passed to meaningful and important in contemporary society, is but an illusion. Just like our money and the nutritional value of our feed, there's a fundamental lack of substance. But this false paradigm is quickly coming to an end. Soon, with the eventual collapse of the dollar and the return to real honest money, much of the fake structures in today's world will cease to function and will no long exist. And while getting there will be challenging, it is well worth the journey. Don't forget to go to KerryLutz.com and sign up for an instant free Financial Survival Toolkit and the Weekly Newsletter.
This posting includes an audio/video/photo media file: Download Now | ||
| High-frequency trading distorts commodity prices, study says Posted: 23 Mar 2012 08:25 AM PDT By Emma Farge http://uk.reuters.com/article/2012/03/21/idUKL6E8EL80I20120321 GENEVA, Switzerland -- High-frequency traders have caused U.S. commodity futures prices to disconnect from market fundamentals of supply and demand since the 2008 financial crisis, according to one of the authors of a forthcoming U.N. report. Also known as black-box players, they plug algorithms into computers to generate numerous, lightning-speed automatic trades that are designed to make money from arbitrage on razor-thin price differences and movements. An increasingly high correlation between commodities and equities, caused largely by high-frequency traders, means that prices for oil and other U.S.-traded contracts are more exposed to "sudden and sharp corrections," said a draft report seen by Reuters. ... Dispatch continues below ... 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. High-frequency trading is estimated to account for over half of all U.S. equity trade volumes and a smaller but rising share of commodity futures trades. The study suggests that these players have penetrated deeply into energy and agricultural markets with the growth of electronic trading. "The strategy of those involved in high-frequency trading tends to reinforce the correlation between equities and commodities," said one of the report's authors, Nicolas Maystre, an economic affairs officer at the United Nations Conference on Trade and Development. "We are not saying that it's all about speculators and (that) fundamentals don't matter. But we are saying that they tend to matter less, except in extreme cases," he added. The report examines the front-month contracts for NYMEX-traded WTI oil as well as sugar, wheat, corn, soybeans, and live cattle between 1996-2011. It concludes that there is growing evidence that "the financialization of commodity markets has an impact on the price determination process," which is important for two reasons. "First, it questions the diversification strategy and portfolio allocation in commodities pursued by financial investors. "Second, it shows that as commodity markets become financialized, they are more prone to external destabilizing effects," the report said. Unlike other studies on commodity prices, based mostly on daily prices, the UNCTAD study uses "ticks," a measure of trading activity that can be recorded every millisecond, to gain better access to intra-day trading patterns. The report shows that the number of trades recorded by vendor Thomson Reuters' tick history has nearly doubled on benchmark U.S. crude since 2008 to over 41 million, indicating that a new breed of financial investors has joined traditional parties such as big producers and consumers. Correlation between commodities and other markets strengthened after the collapse of Lehman Brothers in 2008 as investors collectively shifted their focus from supply and demand fundamentals to clues about economic recovery. One of the ongoing dangers of the disconnect with fundamentals is higher volatility and the risk of a sudden sharp correction, the report said. "These investors (high-frequency traders) don't have a real physical interest in markets, so if markets are now just responding to equity, it creates a destabilising effect on commodities. ... It can create bubbles," said Maystre. In equity markets, U.S. regulators found that these traders were a factor behind the "flash crash" of May 2010 when stocks plunged suddenly and for no fundamental reason. Another consequence is that investors seeking to diversify or hedge against other investments in their portfolio are often disappointed, the report said. For most of the second half of last year, a fresh scare in the euro debt crisis or a weak economic number could lead to a rise in the dollar, and risky assets such as equities and many commodities would sell off in lockstep. This year, fund managers say, the trading patterns of commodities and other risky assets such as stocks are likely to increasingly diverge and fundamentals play a stronger role as economies start to recover. Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT A Rare Opportunity with Collectible Gold Coins Sovereign debt problems in the United States as well as Europe will worsen this year. The mainstream financial media may never report about the likely inflationary consequences of bailouts and "quantitative easing," nor are they likely ever to recommend tangible assets for financial protection. But at Swiss America Trading Corp. we believe that it is no longer a luxury to own gold and silver coins but rather a necessity. At the moment the public is showing little interest in Double Eagle U.S. $20 gold coins, so the price premiums above the intrinsic melt values (.9675 ounce of gold in each coin) are historically low. The ratio of price to bullion content for these coins has been 2:1 but today it is only about 1.25:1. This is a real opportunity. So give us a call or e-mail and we will be glad to discuss the potential of these coins and how to use a ratio strategy to increase your gold ounces without money out of pocket. In the January edition of his Early Warning Report, Richard Maybury writes: "As they are inherently in very limited supply, I believe that high-quality numismatics will become tulips, eventually rising a thousand percent or more in real terms, when money velocity goes into mid-second stage. In late stage, who knows -- 2,000 percent? 3,000?" All inquiries will receive without charge (while supplies last) our latest book, "The Inflation Deception," as well as our newsletter "Real Money Perspectives." -- Tim Murphy, trmurphy@swissamerica.com -- Fred Goldstein, figoldstein@swissamerica.com Telephone: 1-800-289-2646 Swiss America Trading Corp., 15018 North Tatum Blvd., Phoenix, AZ 85032
| ||
| Posted: 23 Mar 2012 08:21 AM PDT The beleaguered gold stocks have spiraled lower this month, heaping misery on poor fools like me naive enough to invest in them. Dwindling interest and capital has left this realm a desolate wasteland, I’ve rarely seen anything so deeply out of favor. In fact, relative to gold the gold stocks are now back down to levels only seen briefly during 2008’s epic stock panic! Are they dying, gasping their last breath?
| ||
| Gold investors ditch equity funds for bullion Posted: 23 Mar 2012 08:17 AM PDT By Eric Onstad http://www.reuters.com/article/2012/03/23/us-mining-summit-gold-lipper-i... LONDON -- Investors keen on gold showed frustration at underperforming funds that invest in mining firms as liquidations extended for more than four straight months, while money flowed into funds that invest in the underlying metal, data from Lipper showed. Gold mining stocks have underperformed the metal over the last several years as companies struggled with rising costs and operational problems in far-flung locations, but the figures show an accelerating trend. The net outflows from U.S. funds that invest in gold and precious metals mining companies such as Barrick Gold Corp. and Newmont Mining Corp. continued for the longest period since 2008. ... 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 Executives from Barrick, Newmont, Goldcorp, and Gold Fields are among guests who will be attending the Reuters Mining and Metals Summit next week. "We have not previously seen that kind of trend of consistent outflows from the gold and precious metals equity funds," said Tom Roseen, senior analyst at Lipper. At the same time, investors were sending money into U.S. funds that invest in gold bullion, futures and other precious metals, according to Lipper, a Thomson Reuters company that provides fund data and analysis. Since November, including data for the first half of March, $3.75 billion has flowed into U.S. commodity precious metals funds while about $850 million was liquidated from the equity funds during the same period. The flows reflect the sharp different in performance between the two categories. Over the past 12 months, precious metals equity funds shed 12.1 percent while underlying metal funds gained 6.8 percent. Neither fund category, however, captured the 19 percent gains over the period in the spot gold price, perhaps due to investments in other precious metals such as platinum and silver, which have failed to match gold gains over the period. Gold has had a volatile ride since late last year, touching a record peak of $1,920 an ounce in early September before lurching to a low of $1,522 in December. Early this year it shot up again towards $1,800 before sliding again. All the precious metals equity funds were in negative territory during the 12-month period and as a whole were the worst performer among Lipper's 25 categories of funds that focus on specific sectors. The underlying metals fund performed better than the average 3.7 percent gain for all the funds, but failed to match the top two categories: consumer services and health/biotechnology funds, both up around 18 percent. "People are making moves back into equities, but when they are doing it they're going into dividend payers," Roseen said. Since exchange traded funds (ETFs), which allow easy investment in gold bullion and other precious metals, took off about five years ago, valuations of gold producers have struggled. "It's a difficult one for the gold mining companies because they have to keep giving investors convincing reasons why they should be preferred over the underlying commodity," said analyst Tom Kendall at Credit Suisse in London. "If you're struggling to control costs and if the perception of investors is that the political or operational risk is rising in the areas in which you're operating, then you're facing an uphill battle." Valuations of gold miners, which previously attracted a rich premium, have plummeted to the lowest levels in over a decade and early this year slipped below the average of other stocks. Global gold mining stocks currently have an average forward price earnings ratio of 10.5, below world equities at 12, according to Thomson Reuters Datastream. This contrasts with a PE of 30-35 for gold miners in 2005-2006, more than double the world equity average. While Kendall currently sees gold shares as undervalued, he is unsure how much they will be able to claw back their premium. "I suspect there are still a significant number of investors out there who expect at some point in time that valuation gap to narrow somewhat, but I don't think there are many who expect it to come back to what it used to be." 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.
|
My Dear Extended Family,
For most of the last century the default currency for international settlements has been the US dollar. This has given America ultimate power over international trade. In recent months, the US wielded this power against Iran, making life extremely difficult for all Iranians. Importantly it has interrupted oil trade with India, China and Japan. Furthermore SWIFT, the Belgian-based international banking settlement agency, has halted all Iranian interbank transfers.
While stocks staged an 'interesting' recovery this afternoon, it was not enough to save them from a fate-worse-than-death – a red-weekly-close! The only (and therefore) largest drop in the S&P 500 of the year (after GS long stocks call) was dominated (beta-adjusted) by the largest 30Y Treasury yield improvement of the year (after GS said get short Treasury futures). It seemed we reverted to good-is-good, but bad-is-better trading this afternoon, as dismal global macro data spurred a surge in commodities, rally in stocks (carried by the QE-high-beta faves Energy/Materials/Financials but not Industrials notably), compression in Treasury yields, a drop in the USD as QE-hope was back on (and Lockhart helped a little in the last hour with some punchbowl temptations). Futures volume was below average but not dramatic though cash (NYSE) volumes were on the weaker side. The small drop in the USD was dwarfed by the pop in commodities as Silver outperformed but only Gold managed to get back into the green for the week. Oil popped $2-3 around the US open but remains down on the week. Treasuries are 15-20bps lower in yield from their Tuesday highs and 2s10s30s has dropped modestly on the week. AUD reverted from yesterday's late lows and rallied (mildly supportive of the equity move) but JPY kept on rallying (with a small selloff this afternoon) leaving the USD (DXY) in that same very narrow range for the week ending the week down 0.55%. Broadly speaking risk assets did not participate as positively as stocks this afternoon as HY (and HYG) underperformed stocks once again though VIX managed to end under 15% again as the TVIX compressed back down close to its NAV and VXX closed at new lows as the term-structure flattened a little more. Oh yeah, and BATS and AAPL flash-crashed…
As of this morning, the federal government now asserts the authority to store information about American citizens for up to five years.
To justify the new "storage" requirements, anonymous sources cite two incidents to The Washington Post:
Even in the mainstream, there's a sense of something amiss: How else to explain thousands of teeny-boppers lining up at midnight last night to watch the movie adaptation of The Hunger Games?
"This is the most-bullish chart on Nicaragua," said Chris Mayer to our intimate gathering on the first day of The Rancho Santana Sessions.
The trading in stock markets this week is winding down with mixed results in the U.S. The S&P, for example, is struggling to regain 1,400.
"Being in Sydney," Abe writes from the road, "has allowed me to go beyond the charts to experience the Australian dollar firsthand."
Reinforcing Dan Amoss' assertion this week that "there simply is no need for housing starts to rise beyond current levels," new home sales fell 1.6% in February, to an annualized 313,000.
Gold is regaining some of its lost luster as the weekend approaches. The spot price is up to $1,663. Silver has recovered the $32 level at $32.07.
"You give us a gold price update," a reader gripes, "but please tell us why gold and silver prices are falling."
Here's a disconcerting example of the downside of state-directed data storage:
"Another amendment will do little to nothing if not obeyed," writes a reader carrying on the discussion about the National Debt Relief Amendment. "The present Constitution gets little more than lip service from elected officials."
"If indeed the federal government threatened the states," a reader adds in reply to a suggestion yesterday, "maybe the states could turn around and withhold all their donations for taxes, etc."
"Looks beautiful," says a reader who caught our dispatches this week from | You are subscribed to email updates from Save Your ASSets First To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
No comments:
Post a Comment