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- A Message to Newly Minted (or Potential) Gold Bugs
- Puru Saxena: “No Position In Gold & Silver”
- Peter Schiff: Demise of the Dollar
- Analyzing Wednesday's Noteworthy Insider Trades
- Watch Gold as Europe Headed Into Crisis Again
- Bob Chapman: Gold & Silver markets are manipulated here is the proof !
- GLD ETF: 3 Red Flags To Consider
- Gold’s Real Price & the Investment Case for the Miners
- The 'Real' Goods On The Latest Durable Goods Orders
- Market Levitation, China Rollover and Staple Strength
- AtriCure Could Start Paying Off
- Nautilus Minerals Wants To Find Gold From The Ocean
- ETFs: Do You Really Know What You're Buying?
- Gold Price Heads for 2nd Monthly Drop
- Iran Oil Flow Slows – Risk of War Supports Gold
- Four Ways to Diversify With Palladium & Platinum
- Gold is Manipulated...But That's OK
- Trillions in printing still needed to save Europe, von Greyerz says
- The [Recovery] Has No Clothes: Eric Sprott & David Baker
- Chris Martenson: Gold is manipulated (but that's OK)
- Gold & Silver Market Morning, March 29 2012
- David Morgan: Silver Stocks
- Interview with Harry Dent
- Silver Update: “Gresham's Law”
- Will Monetary Policy & Inflation Still Support Bullion?
- The U.S. Dollar During WWI and the Recession of 1920
- Goldman Gold Bullish: $1785/oz in 3 Months; $1,840/oz in 6 Months and $1,940/oz in 12 Months
- Current Gold and Oil Trading Patterns Unfolding
- Gold coins: The Vienna Philharmonic
- The Gold Groundhog Grind
| A Message to Newly Minted (or Potential) Gold Bugs Posted: 29 Mar 2012 12:54 PM PDT Gold in Mind is happy to present this August 18, 2011 article by Gary Tanashian. Despite being almost a year old, the article still provides a view that is just as accurate today as it was at the time of its writing. A Message to Newly Minted (or Potential) Gold Bugsby Gary Tan |
| Puru Saxena: “No Position In Gold & Silver” Posted: 29 Mar 2012 04:32 AM PDT Saxena: "Gold and silver are no longer the screaming bargains they were just a few years ago." from YouTube's KitcoNews: ~TVR |
| Peter Schiff: Demise of the Dollar Posted: 29 Mar 2012 04:28 AM PDT Brazil, Russia, China and South Africa leaders are meeting in India for an annual BRICS summit. And one of the main topics on the agenda will be the shift from the US Dollar in mutual trade. Is this the beginning of the end for the buck almighty? To talk more about it Peter Schiff of the Euro Pacific Capital joins RT's Liz Wahl. from RTAmerica: ~TVR |
| Analyzing Wednesday's Noteworthy Insider Trades Posted: 29 Mar 2012 04:03 AM PDT By Ganaxi Small Cap Movers: We present here noteworthy insider trades from Wednesday's (March 28th, 2012) over 310 separate SEC Form 4 (insider trading) filings as part of our daily and weekly coverage of insider trades. The filings are noteworthy based on the dollar amount sold, the number of insiders buying or selling, and based on whether the overall buying or selling represents a strong pick-up based on historical buying and selling in the stock (for more info on how to interpret insider trades, please refer to the end of this article): Ariad Pharmaceuticals Inc. (ARIA): ARIA is engaged in the development of drugs that treat aggressive and advanced-stage cancer by regulating cell signaling with small molecules. It is also developing small-molecule drugs that block signal transduction pathways in cells responsible for osteoporosis and immune and inflammatory diseases. On Wednesday, five insiders filed SEC Forms 4 indicating that they exercised options to acquire 52,875 shares Complete Story » |
| Watch Gold as Europe Headed Into Crisis Again Posted: 29 Mar 2012 04:01 AM PDT Time to buy is now! |
| Bob Chapman: Gold & Silver markets are manipulated here is the proof ! Posted: 29 Mar 2012 03:46 AM PDT Bob Chapman: Gold and silver markets are manipulated, but so are most other... [[ This is a content summary only. Visit my blog http://www.bobchapman.blogspot.com for the full Story ]] |
| GLD ETF: 3 Red Flags To Consider Posted: 29 Mar 2012 03:23 AM PDT By Christian Magoon: The GLD ETF, also known as the SPDR Gold Trust, is the first and largest physical gold ETF in the world. At over $69 billion in assets it has become a common reference point for the price of gold worldwide. Recently however, three troubling data points have emerged that appear to indicate rough waters for GLD in the near term. Before we examine these three red flags, here's a snapshot of the GLD ETF summary from GoldETFs.biz: Click to enlarge Recent price activity in GLD has displayed two major breakdowns in GLD's price movement relative to its moving averages including the 50 day and the 200 day. These averages have been a reliable indicator of GLD's longer term valuation trends relative to its daily price fluctuations. Over the last two years dips below the moving averages have been buying opportunities and significant peaks above the averages have led to declines Complete Story » |
| Gold’s Real Price & the Investment Case for the Miners Posted: 29 Mar 2012 03:16 AM PDT As the HUI index of premier gold miners continues to chop and grind its way through ongoing correction, the idea for those who understand that this unique sector of the stock market stands to gain during phases of economic contraction, is to survive. The idea is to remain strong (and by strong I mean have cash to exploit the intensifying value proposition) and be ready for opportunity, which is likely to present itself to nearly the extreme witnessed in Q4, 2008. Now, I don't expect nominal HUI to decline to anywhere near the 150 level that was so compelling a buy in 2008, when quality explorers were selling for net cash, gold in ground for free. But as the index grinds around looking for a bottom, whether it be in the ongoing consolidation or a final washout, the opportunity should be in the same 'no brainer' territory as it was in '08. We are looking for 'higher lows' in 'value' indicators like the HUI-Au ratio. Some individual explorers are actually starting to approach the 'selling for cash, gold given away free' level. In 2008, the idea was to buy with a thought like 'this is either an epic opportunity, the whole investing world is ending or I maybe I am just crazy'. Thankfully, the first option proved out. The 2008 meltdown happened relatively quickly, as it was triggered by a deflationary impulse that resulted from a meltdown of the US financial system. As I used to write at the time, the gold miners were fundamentally vulnerable then because their product, gold, had been in under performance mode for an extended period due to the upward price pressures on commodities, goods and services (many of which negatively impacted gold miner bottom lines) that resulted from the previous, Greenspan sponsored inflationary regime (and resulting inflationarygrowth cycle). Now? Not so much. And yet still we have a value buying opportunity shaping up amid a still generally favorable fundamental economic backdrop as gold remains in out performance mode over the intermediate term (2012′s Goldilocks recovery notwithstanding). Spend some time reviewing this chart and meet me below…  Here we have various ratios that help indicate the 'real' price of gold. These are measures of the monetary metal in various things that are positively correlated to economies; crude oil, stock market, copper and broad commodities served two ways, the CCI and CRB indexes, which are weighted differently. This chart is vital to the NFTRH (and thus, my) fundamental view that gold stocks can only be defined as investment worthy and unique in phases of economic contraction. The red boxes show how poorly gold performed in relation to these other markets during the multi-year run up to Armageddon '08 and HUI's subsequent crash. Then, as the system belched up all the previous inflationary excesses and prices of everything the previous inflationary regime had created crashed, gold's ratio to these things exploded impulsively higher. Enter the kickoff to a new phase of a rising 'real' price of gold and thus, rising gold mining fundamentals. Ah, but the chart shows an intermediate correction now in force since the 'real' price hit 'blue sky' last summer during the Euro crisis. I began warning of unsustainable momentum (http://biiwii.blogspot.com/2011/08/to-newly-minted-gold-bugs.html) in real time and indeed the gold sector has been in a post crisis consolidation to the current day. I reiterate for oh, maybe the 10,000th time thatyou do not buy the euphoria in the gold sector. You buy the washouts, the agony and the bile. So, while the current environment is no fun, especially with the up and down volatility, the chart above paints the case for gold and especially quality (and there is a lot of garbage out there folks, you need to be selective) gold stocks as being in an intermediate (post Euro hysteria) term correction within a still-bullish structure. Some people do not want to hear bullish talk at a time like this, just as they do not want to hear 'gold bashing' at a time like last August. But it is appropriate to become bearish or bullish during the extended phases when risk vs. reward is in the process of coming in line. It is now in line for a bullish stance. Last summer, it was the opposite and guarded stance at least was warranted. Being in line with 'risk vs. reward' does not mean go all in; at least not for me or my newsletter. It simply means be aware that the herds are in the process of realigning to provide opportunity. Now, if Team Bernanke really is smart enough to keep up the current inflation regime while manipulating Treasury yield curves to paint a serene and economically friendly picture, then maybe it will be time to take the blue pill and sleep soundly. But the indicators of gold's real price above are not broken. Any decent chartist will look at the above and think 'consolidation'. From this consolidation comes what?… Anyone? Anyone? Beuller? Anyone? A consolidation is a pause before a move higher. The current angst among the gold 'community' (a terrible term that sets its members up as foot soldiers in a bloody battle) is understandable for players who have been 'all in' since the acute phase of the Euro crisis. I do not know from what level the gold stock sector (using HUI as a somewhat ill-suited proxy) will stage its comeback, but I do know that the fundamentals remain intact on the intermediate picture, an HUI-Gold ratio value point is approaching and sentiment is bleak. NFTRH is on a 'week to week' watch to keep a fine tune on the proceedings and the ongoing analysis (including frequent email updates on both the gold sector and the general markets) has done its best to keep its writer and subscribers on the big plays while managing risk every step of the way in the effort to remain strong. It does no good after all to win a war but still be dead upon its conclusion. If the analysis tells me this a war that will not be won, the adjustment will be made. That is not the case, however. Not nearly. Right now the theme is survival, as many of us that are bullish on gold look silly (or worse, look like dinosaurs here in the newest New Economy). Extreme patience and a sober attitude is required, but the rewards are going to be great for people who make it through. Join me and I can promise you not riches resulting from easy 'set it and forget' or frantic 'bullish, no bearish, no bullish' type of analysis, but rather an ongoing and tightly focused management style that will either bring us intact to the point capitalizing or continue to keep us out of the worst of harm's way until things do become actionable. http://www.biiwii.blogspot.com
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| The 'Real' Goods On The Latest Durable Goods Orders Posted: 29 Mar 2012 03:11 AM PDT By Doug Short: Yesterday I posted a commentary on the March Advance Report on February Durable Goods Orders. This Census Bureau series dates from 1992 and is not adjusted for either population growth or inflation. Let's now review the same data with two adjustments. In the charts below the red line shows the goods orders divided by the Census Bureau's monthly population data, giving us durable goods orders per capita. The blue line goes a step further and adjusts for inflation based on the Producer Price Index, chained in today's dollar value. This gives us the "real" durable goods orders per capita. The snapshots below offer a rather sobering corrective to the standard reports on the nominal monthly data. |
| Market Levitation, China Rollover and Staple Strength Posted: 29 Mar 2012 02:59 AM PDT At 12.6% to-date, Q1 2012 is merely the 9th best Q1 in S&P 500 history. Best? 1987, which was 24% ytd. - Paul Kedrosky, 03-27-12 As the stock market corrects into quarter's end, bulls are starting to get nervous. Is the levitating act of equities in doubt?
 CLICK TO ENLARGE Here's a quick point of perspective: The QQQ, powered as it is by Apple, has only touched its 20 day exponential moving average ONCE in 2012 — and that for but a single day. Maybe the techs should be discounted, though, because of the Apple phenomenon. After all, AAPL has become its own asset class, with a bigger cash hoard than the GDP of small countries and the most successful product line in the history of mankind. But what about the S&P? That's been levitating too…
 CLICK TO ENLARGE If you are inclined to see a bleak future, this "levitation act" looks like trouble. Macro level bears — those who still have fur — have been salivating at the prospect of a broad market break. In line with that, trader chatter is increasingly focusing on top calls for the S&P. But why? This doesn't make a whole lot of sense — as far as broad market bearishness goes, there are problems on multiple levels:
 CLICK TO ENLARGE Consider the Australian dollar (as pictured above). China is rolling over right now — take a look at FXI, PGJ, HAO, and the Shanghai composite — and it is taking the entire industrial metals complex with it. This is not only a very bearish development for the Australian dollar, it's bearish for a wide swath of "commodity supercycle" stocks: Base metal miners, steel producers, oil service, and so on. For a long time after 2008, we had "all or nothing" type markets, where risk assets seemed to have a correlation of 1. Either everything was up, or everything was down. Now, finally, we have some massive divergences — which is great news for a balanced long / short trading portfolio.
 CLICK TO ENLARGE Our winners on the long side include groups like semiconductors, biotech, and financial exchanges — all extremely strong. Why fight the tide when you can go with the flow? On the short side, we have heavy (and profitable) exposure to the industrial metals complex — on China rationale and compelling chart confirmation — along with select oil service and precious metals names. Speaking of gold (which we called out as terrible last week): The biggest problem for precious metals right now has the initials BSB — for Benjamin S Bernanke. Why? Because Bernanke clearly has the "whip hand" when it comes to manipulating market sentiment as relating to gold and the $USD.
In the Mercenary Live Feed — where we trade real capital and report executions in real time — we like to jockey for position and play for the big moves. As such, modest corrections in the major indices don't mean all that much — until the volatility tells us a significant shift is happening. Meanwhile, groups on both sides of the ledger are working well. As a final note, if you are worried about a potential correction, check out what Coke has done the past few days:
 CLICK TO ENLARGE Group strength is a critical concept because of institutional capital flows. Just as surely as money is flowing out of energy stocks and the industrial metals complex right now, it is flowing into "safe" areas of the market like pricing-power-enabled consumer staples stocks. We have a couple of these in the on deck circle. Bring me that horizon, JS (jack@mercenarytrader.com)  |
| AtriCure Could Start Paying Off Posted: 29 Mar 2012 02:49 AM PDT By Stephen Simpson: Healthcare is a little strange insofar as companies and analysts often correctly identify promising markets, but real commercial acceptance and usage takes quite a bit longer than most expect. In the case of AtriCure (ATRC), investors have long pondered the multi-billion dollar potential of an effective atrial fibrillation therapy, but the company had a long road to FDA approval and still has to sell and train a sometimes surprisingly stubborn medical community. While the road ahead for AtriCure is still long (and uphill), the market potential here is such that successful marketing efforts could make this a very interesting stock in the coming years. Finally Ready For Primetime While AtriCure has had versions of its ablation system on the market for quite a few years now, the company did not have FDA approval to market the product for atrial fibrillation. Off-label usage of approved devices and drugs has been an Complete Story » |
| Nautilus Minerals Wants To Find Gold From The Ocean Posted: 29 Mar 2012 02:45 AM PDT By Simit Patel: For me, the biggest dream I'm chasing in single stock investing, meaning the kind of stocks I'm always on the hunt to find are those that fit into the paradigm of disruptive theory. These are the companies that are developing new technologies, new business models, and new customer groups. Though I'm not a fan of Apple (AAPL), there is no denying it is a master of disruption; over the past 10 years the company has managed to disrupt the software industry (via the app store distribution model), the music industry (via iTunes and iPods), and possibly the PC industry (if the iPad can continue improving and become a better input device). It might also disrupt television and books as well. Getting in on disruptive innovations early is the name of the game, and is what will give stocks huge returns -- as Apple clearly illustrates (though as I've noted in Complete Story » |
| ETFs: Do You Really Know What You're Buying? Posted: 29 Mar 2012 02:19 AM PDT By Vedran Vuk: Exchange-traded funds have been all the rage in recent years - they are easy to buy, easy to sell, and often have lower expense ratios than index mutual funds. But the Casey Research team dug deep into the complex world of ETFs and found that in many cases, their names can be utterly deceptive. Here are a few excerpts of our revealing special report, The Top Ten Misleading ETFs. Market Vectors Junior Gold Miners (GDXJ) - This ETF sure has a funny definition of a junior mining company. In my opinion, a junior miner is a small, speculative company just getting off the ground. Our publication, Casey International Speculator, specializes in this particular kind of company. If I had to put a number on the market cap, I'd say that junior miners fall under the $500 million mark. If you really want to push the definition to its limits, maybe Complete Story » |
| Gold Price Heads for 2nd Monthly Drop Posted: 29 Mar 2012 01:33 AM PDT The gold price retreated below last week's finish Thursday morning in London, heading for its second monthly fall in succession against all major currencies bar the Japanese yen. |
| Iran Oil Flow Slows – Risk of War Supports Gold Posted: 28 Mar 2012 11:38 PM PDT Gold traded sideways in Asia prior to seeing a slight climb to $1,665/oz. in late Asian and early European trading prior to price falls in Europe. Gold continues to struggle due to poor short term technicals and a slight decrease in global physical demand in recent days. |
| Four Ways to Diversify With Palladium & Platinum Posted: 28 Mar 2012 09:49 PM PDT Even gold and silver investors need to diversify. That's why investing in precious metals means more than simply buying the "barbaric relics" that have served as money in the past. |
| Gold is Manipulated...But That's OK Posted: 28 Mar 2012 09:16 PM PDT ¤ Yesterday in Gold and SilverAs I said in 'The Wrap' last night, trading was dead in the Far East on their Wednesday. A one hour rally in gold began the moment that London opened yesterday morning. At 9:00 a.m. BST the gold price broke through Tuesday's New York closing high...and that was the high for the day. The price slowly declined from there...and by 12:10 p.m. in New York, gold was down ten bucks from it's London high. At that point, the high-frequency traders showed up...and by shortly before the 1:30 p.m. Comex close, they had the gold price down another twenty bucks and change. From that low [$1,653.80 spot] the gold price recovered a bit going into the close of electronic trading at 5:15 p.m. Eastern time. Gold finished the Wednesday trading session at $1,662.10 spot...down $18.50 from Tuesday's close. Volume in the April contracts was very heavy...around 193,000 contracts...with a very large percentage of that being roll-overs.
The silver chart was a duplicate of the gold chart. From its London high at 9:00 a.m. British Summer Time, to its low at the close of Comex trading...$31.68 spot...silver was down a buck. However, silver did manage to claw back some of those loses by the close. Silver finished the day at $32.04 spot...down 55 cents. Net volume wasn't overly heavy at around 29,000 contracts.
The dollar index opened around 79.10 in Far East trading yesterday morning...and closed in New York around 79.15. But between the open and close there was a lot of movement down and then up...and it didn't matter whether the dollar index was rising or falling, 'da boyz' were determined that the gold and silver prices were going to decline...and that's exactly what happened.
The gold stocks gapped down a bit at the open...and then continued down until 12:10 p.m. Eastern...which was the exact time that the rug got pulled out from underneath the gold and silver prices. Despite the fact that the metal prices cratered from there, the stocks barely budged...and even managed to rally a bit into the close. I don't know what to make of that, but it certainly seemed counterintuitive to me. As it was, the HUI finished down 1.82% on the day.
The silver stocks did not do well at all...especially some of the juniors...and Nick Laird's Silver Sentiment Index closed down 2.90%.
(Click on image to enlarge) The CME Daily Delivery Report showed that 6 gold and 91 silver contracts were posted for delivery on Friday. In silver, there were quite a few short/issuers...the big one being Merrill with 52. But the big long/stopper with 82 contracts was the Bank of Nova Scotia. These above deliveries are the last for the March delivery month...so the decks are already cleared for tonight's First Day Notice report from the CME. The link to yesterday's Issuers and Stoppers Report is here. There were no changes reported in either SLV or GLD. There was a sales report from the U.S. Mint. They sold a chunky 17,000 ounces of gold eagles...and another 3,000 one-ounce 24K gold buffaloes. Tuesday was another busy day over at the Comex-approved depositories. They reported receiving 1,518,116 troy ounces of silver...and shipped 650,506 ounces out the door. The link to that action is here. Silver analyst Ted Butler posted his mid-week commentary on his website yesterday afternoon...and here are his comments on yesterday's price action in gold and silver. "A quick word on [Wednesday's] price weakness. The current market structure does not suggest a pronounced price decline ahead. The commercials, acting collusively and with dirty market tricks (HFT) at their disposal, can and do put prices wherever they desire on a short term basis. But it should be clear that the commercials are always the big buyers on these engineered sell-offs. The sell-offs invariably end when there is little speculative long liquidation remaining, as it serves no purpose for the commercials to drive prices lower if they can't buy more. It seems to me that we are at, or very close, to that point where the commercials can't induce much additional speculative long liquidation and new short selling in COMEX gold and silver. There's no doubt that silver is manipulated in price, but there is also no doubt that even manipulated markets have a rhyme and rhythm. Lower prices are rigged by the commercials to get others to sell to them. Bottoms are defined when that selling runs out." Here's a chart that Washington state reader S.A. sent my way yesterday. It appears that it came from The New York Times. You can see that the middle class is being decimated, with the rich getting richer...and everyone else is getting slowly poorer.
Here's another chart from S.A...and it doesn't require any explanation from me.
(Click on image to enlarge) I have the usual number of stories today and, as always, the final edit is up to you. I was less than enthralled with yesterday's price action in both metals...especially those engineered price declines that began shortly after 12 o'clock noon in New York. The Recovery Has No Clothes: Eric Sprott & David Baker. Mainstream bashes gold, but new highs coming: Eric Sprott. Buy Gold Now Before it Gets to $2,000: Newmont CEO. ¤ Critical ReadsSubscribeMF Global Employees Say They Are Cooperating With InvestigationThree of the four executives at MF Global called to testify before a House panel on Wednesday said that they were cooperating with federal authorities. Democrats and Republicans alike mocked the executives before them. "I actually don't have a clue what to ask you," Representative Michael Capuano, Democrat of Massachusetts, told the witnesses. "How am I supposed to ask you questions if none of you knew what was going on and have no information whatsoever?" "It is absolutely disgraceful," said Representative Steven Lynch, Democrat of Massachusetts. "It's not believable at all up here." You can't make this stuff up. This story was posted in The New York Times late yesterday afternoon...and I thank reader Phil Barlett for sending it along. The link is here.  Victory? Goldman cuts its lossesWhen considering the shocking decision by Goldman Sachs Group Inc. to change its board structure, don't think of the firm as a typical Wall Street bank, think of it as a professional gambling cartel...then, suddenly, everything makes sense. If there's one thing Goldman is good at, it's knowing the odds and making bets or cutting the firm's losses when those odds are too foreboding. After former Goldman employee Greg Smith's op-ed on March 15 in The New York Times, Chief Executive Lloyd Blankfein went on the defensive. He dismissed the complaints that Goldman treated its clients, in Smith's words, as "muppets." Behind the scenes, Goldman painted Smith as a whiner, outcast and disgruntled banker to the press. Even then, Goldman probably knew the damage had been done. And it would face a serious revolt at its annual meeting. It's an obvious trade for a trader, or bet, if you're a gambler. At Goldman it's impossible to tell the difference. This short marketwatch.com story was sent to me by Florida reader Donna Badach. It's a must read in my opinion...and the link is here.  Banking Regulator Calls for End of 'Too Big to Fail'An annual report from a regional Federal Reserve bank is typically a collection of banalities and clichés with some pictures of local worthies who serve on the board. And so it is with this year's annual report from the Federal Reserve Bank of Dallas, whose pages are graced by the smiling, stolid portraits of board members who run local companies like Whataburger Restaurants. But the text is something else entirely. It's a radical indictment of the nation's financial system. The lead essay, which is endorsed by the president of the Dallas Fed, contends that despite the great crisis of 2008, a cartel of megabanks is still hindering the economic recovery and the institutions remain too big to fail. This is another story from yesterday's edition of The New York Times...and I thank Phil Barlett once again for sharing it with us. It, too, is a must read...and the link is here.  Fed Buying 61 Percent of US DebtThe Federal Reserve is propping up the entire U.S. economy by buying 61 percent of the government debt issued by the Treasury Department, a trend that cannot last, Lawrence Goodman, a former Treasury official and current president of the Center for Financial Stability, writes in a Wall Street Journal opinion article published Wednesday.  Spain to slash spending as economy slumps back into recessionThe Bank of Spain said the "contractionary dynamic" in the economy continued into early 2012 for the second quarter in a row, with an "intensifying" pace of job losses. It expects GDP to fall by 1.5pc this year. Mr Rajoy said at a meeting in Seoul that he would press ahead later this week with a "very austere budget", ordering 15pc cuts in spending across the ministries. It is unclear how he can slash the budget deficit from 8.5pc of GDP last year to 5.3pc to meet the compromise target agreed with Brussels after a bruising confrontation. "It is frankly impossible, given that it would aggravate the recession and this would crush state revenues," said Jesús Fernández-Villaverde from the University of Pennsylvania. This Ambrose Evans-Pritchard offering was posted on The Telegraph's website late Tuesday evening. I borrowed it from yesterday's King Report...and the link is here.  Italy's Monti blames Germany, France for eurozone crisisItalian Prime Minister Mario Monti on Wednesday said the root of Europe's debt woes lay partly in the irresponsible parenting of Germany and France during the bloc's infancy. Monti told reporters in Tokyo that because the eurozone's two largest players had not abided by fiscal rules, they had set a bad example for the rest of the continent. "The story goes back to 2003 (and) the still almost infant life of the euro," Monti said. "It was in fact Germany and France that were loose concerning the public deficits and debts." This AFP story was posted on the france24.com website yesterday...and I thank Roy Stephens for sending it our way. The link is here.  ECB's LTRO plan flops as banks cut lendingThe European Central Bank (ECB) said loans to the real economy fell in February, scotching claims that radical long-term refinancing operation (LTRO) would stem the crisis. Open Europe's Raoul Ruparel said: "The LTRO has succeeded in avoiding a severe funding crunch...[But] it does not tackle the underlying lending risks which the banks are still keen to avoid, particularly with the looming recession in Europe." As Spain faces a general strike on Thursday, economists called for the eurozone to use its bail-out funds to support the country's banks. Finance ministers are under pressure to boost Europe's "firewalls" in Copenhagan on Friday. But Jens Weidmann, Bundesbank president, warned that "just like the 'Tower of Babel' the 'Wall of Money' will never reach heaven". This very short story was posted over at The Telegraph yesterday evening...and is worth your time. It's another Roy Stephens offering...and the link is here.  Trillions in printing still needed to save Europe, von Greyerz saysFund manager Egon von Greyerz, was interviewed by King World News yesterday...and remarked that money printing in Europe has only begun and that saving the European banking system will require many trillions more euros. Devaluation, he says, is Europe's only option and gold the only defense against it. An excerpt from the interview is posted at the KWN blog...and I thank Chris Powell for writing the introduction for us. The link is here. Trillions in printing still needed to save Europe, von Greyerz says Posted: 28 Mar 2012 09:16 PM PDT  Fund manager Egon von Greyerz, was interviewed by King World News yesterday...and remarked that money printing in Europe has only begun and that saving the European banking system will require many trillions more euros. Devaluation, he says, is Europe's only option and gold the only defense against it. An excerpt from the interview is posted at the KWN blog...and I thank Chris Powell for writing the introduction for us. The link is here. |
| The [Recovery] Has No Clothes: Eric Sprott & David Baker Posted: 28 Mar 2012 09:16 PM PDT  In their March "Markets at a Glance" commentary, Eric Sprott and David Baker of Sprott Asset Management in Toronto remark at length on the manipulation of the gold and silver markets through paper trading grossly disproportionate to the amount of real metal likely to be available. Not only do Eric and David go into the market management of the silver and gold prices, they also spend considerable time talking about the U.S. recovery that really isn't a recovery at all. All the talk about economic recovery is in the first half of this essay...and discussion of the silver/gold price management scheme is contained in the second half. |
| Chris Martenson: Gold is manipulated (but that's OK) Posted: 28 Mar 2012 09:16 PM PDT  Financial writer Chris Martenson hurled himself into the gold market manipulation camp with brilliant commentary that cites some of the documentation GATA long has been publicizing. We disagree with him only insofar as, like some others, he shrugs off the manipulation as an opportunity for investors to obtain metal at a wonderful discount. As long as we live in a world where time is limited and thus equivalent to money, such a discount may be consolation only for those with long lives ahead of them. Many gold investors have gone to their graves thoroughly cheated, without consolation, and of course the manipulation also entails constant deception of both investors and citizens generally, which is repugnant in itself. |
| Gold & Silver Market Morning, March 29 2012 Posted: 28 Mar 2012 09:00 PM PDT |
| Posted: 28 Mar 2012 08:44 PM PDT "The future of dividends may be payment in physical precious metals."
Much More @ FinancialSense.com |
| Posted: 28 Mar 2012 08:38 PM PDT
About Gold Seek Radio: More interviews @ radio.goldseek.com |
| Silver Update: “Gresham's Law” Posted: 28 Mar 2012 08:28 PM PDT BJF discusses Gresham's Law, common sense and the return to sound money in the 3.28.12 Silver from BrotherJohnF: Got Physical ? ~TVR |
| Will Monetary Policy & Inflation Still Support Bullion? Posted: 28 Mar 2012 07:41 PM PDT While investors appear to be more sensitive to gold prices, CPM Group expects gold prices to stay above $1,500 this year and above $1,400 over the coming years. The report cites large debts and currency market volatility as issues providing support for gold prices. |
| The U.S. Dollar During WWI and the Recession of 1920 Posted: 28 Mar 2012 05:18 PM PDT New World Economics |
| Goldman Gold Bullish: $1785/oz in 3 Months; $1,840/oz in 6 Months and $1,940/oz in 12 Months Posted: 28 Mar 2012 05:15 PM PDT gold.ie |
| Current Gold and Oil Trading Patterns Unfolding Posted: 28 Mar 2012 05:08 PM PDT |
| Gold coins: The Vienna Philharmonic Posted: 28 Mar 2012 05:00 PM PDT Goldmoney |
| Posted: 28 Mar 2012 04:54 PM PDT Hat Trick Letter |
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