Gold World News Flash |
- The Bonanza Project
- Gold Probes Lower Levels…Slowly
- Turk - The Most Important & Extraordinary Chart for 2012
- Gold Seeker Closing Report: Gold and Silver End Slightly Higher
- Chimps Throwing Poop And 29 Other Mind Blowing Ways That The Government Is Wasting Your Money
- Sprott On Biderman On Paper Vs Physical Gold
- Silver Update 4/19/12 Silver Bubble?
- Silver Porn, Silver Liberation Army 2.0, Blythe CNBS Interview
- And Yet Another One Bites the Dust
- A Return to the Gold Standard, or Gold Behind Currencies – Part 4/5
- MUST WATCH & SHARE: THE SHOCKING TRUTH OF THE PENDING EU COLLAPSE!
- Eveillard – We Are Looking At Catastrophe Going Forward
- Guest Post: Floating Exchange Rates - Unworkable And Dishonest
- TrimTabs: Talking Gold with Eric Sprott
- SHOCKER: Western Powers Loot Syrian Gold – Force Gold Liquidation “to Mitigate Sanctions”
- World Silver Mine Supply for 2011 Increased by 1.4% to 761.6 Million Ounces
- Failed Spanish bond auction
- Eric Sprott Interview: Silver, Gold, Mining Stocks and more – GoldSeek.com Radio Nugget
- No Way Back
- Gold Price Posted a New Low and Higher High the First Half of a Key Reversal Must Close Higher Tomorrow
- The Chains That Bind You
- Spain is Greece… Only Bigger and Worse
- Bottom Forming In Precious Metals and Miners
- Gold Daily and Silver Weekly Charts - Winding Up for a Move - Tomorrow Is Stock Option Expiry
- Eveillard - We Are Looking At Catastrophe Going Forward
- Ira Epstein's Weekly Metal Report
- Inflation and Hidden Gold Taxation: 3 Historic...
- Mongolia's "Ninja" Miners Help Sate China's Lust For Gold
- India's Gold Demand "Lacklustre" Ahead of Key Festival as Precious Metals "Fall Victim" to Rising Dollar
- In The News Today
| Posted: 19 Apr 2012 06:26 PM PDT During the bull market of 1978 to 1980, many large mining companies at least tripled. For example, Homestake Mining went from $5 in 1978 to $25 in 1980. Numerous low priced and undervalued gold and silver stocks increased considerably more during that period. From late 2008 to 2010, another undervalued and profitable event also occurred. Today, we have a similar situation, conditions and pricing where very undervalued gold and silver stocks with significant defined gold/silver "vaults" are largely ignored and forgotten. I expect that within the next few months to 3 years these good values will again be recognized and begin their rise from the deep to significant price levels. Bonanza Project Purpose The Bonanza Project will take advantage of these low valuations. It is not some off the wall pipe dream or pie in the sky idea but a program based on mathematical undervaluation, a historical precedent and a reasonable chance for success. The concept is based purely on fundamental v...
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| Gold Probes Lower Levels…Slowly Posted: 19 Apr 2012 04:31 PM PDT courtesy of DailyFX.com April 19, 2012 02:11 PM Daily Bars Prepared by Jamie Saettele, CMT “Price is testing a long term trendline that extends off of the 2008, 2010, and December 2011 lows. A break of such a well-defined trendline would signal a significant shift. The downside is favored below the April high of 1683.35.” A short term bear flag appears complete and price is pressured by the 20 day average. 1660/65 is now resistance. Bottom Line (next 5 days) – lower...
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| Turk - The Most Important & Extraordinary Chart for 2012 Posted: 19 Apr 2012 04:01 PM PDT  With continued volatility in global stock and commodities markets, today King World News interviewed James Turk out of Europe. Turk exclusively sent KWN what he calls "the most important and extraordinary chart for 2012." But first, here is what Turk had to say about the action in gold and silver, and what investors should expect going forward: "The spring is already coiled, Eric, but it is being wound tighter and tighter by this relentless testing of support. For more than a month, gold and silver have been confined to a very narrow trading range."
This posting includes an audio/video/photo media file: Download Now |
| Gold Seeker Closing Report: Gold and Silver End Slightly Higher Posted: 19 Apr 2012 04:00 PM PDT Gold climbed up to $1646.71 in Asia before it fell back to $1631.42 in London and the rose to a new session high of $1653.50 by about 10AM EST, but it then fell back off midday and ended with a gain of just 0.09%. Silver surged to as high as $32.02 before it also fell back off in late trade, but it still ended with a gain of 0.41%.
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| Chimps Throwing Poop And 29 Other Mind Blowing Ways That The Government Is Wasting Your Money Posted: 19 Apr 2012 02:20 PM PDT from The Economic Collapse Blog:
Read More @ TheEconomicCollapseBlog.com
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| Sprott On Biderman On Paper Vs Physical Gold Posted: 19 Apr 2012 02:17 PM PDT While Eric Sprott obviously has a modest axe to grind, his open and honest discussion with Charles Biderman on the difference between gold ETFs methods of owning gold, so-called physical vs paper gold, is noteworthy given the depth he goes into. After explaining the concerns of GLD, Pisani's putterings, and tax-related differences, Eric goes on to discuss his and other physical trusts and how he started down this route. The latter end of the discussion shifts from the practicalities of owning 'sound money' or 'hard assets' to the thesis for doing so - the debasement of fiat currency and the printing press fanaticism being exhibited globally. Concluding with his thoughts on what could change this thesis, he sees the greatest risk that "we come to our financial senses" - a highly unlikely scenario given the dominoes likely to fall should that occur.
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| Silver Update 4/19/12 Silver Bubble? Posted: 19 Apr 2012 02:15 PM PDT |
| Silver Porn, Silver Liberation Army 2.0, Blythe CNBS Interview Posted: 19 Apr 2012 01:54 PM PDT
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| And Yet Another One Bites the Dust Posted: 19 Apr 2012 01:40 PM PDT
 Spain joins Greece, Portugal and Italy in slow motion deflationary stock market crashes. Italy (Milan [$MIB] Index) did a peek-a-boo below the spring, 2009 lows in 2011, and then had a weak rebound. It looks set to break to new lower lows soon. Here's a 20 year monthly chart of $MIB thru today's close:  These are modern-day examples of deflationary stock market collapses right in front of our eyes. Those who say the bankstaz would never let it happen just don't want to face reality. Bankers can profit from both deflation and inflation. Who do you think is going to buy up the assets in these European countries for pennies on the dollar (after they print themselves up some fresh new money)? Now, I don't suspect that the larger economies with their own printing presses are going to go this route quietly, but Japan sure doesn't seem to have the inflationary central banksta rescue thing down so far after 22 years. Unlike many Gold bulls, I don't see stocks as a better play than cash or US bonds here. I am not a buy and hold investor of these asset classes (that's what Gold is for), but I don't expect the US bond market to crater any time soon with a global recession in the works. I also really like the US Dollar right now as a trade. I know it's blasphemy for a Gold bull to talk of US Dollar strength (relative to other paper currencies), but that's what I see coming. Will Gold survive a US Dollar rally? Is it remotely possible? Of course. Not every US Dollar rally causes a 2008-style meltdown. All currencies are sinking relative to Gold, simply at different rates (trampoline jumping is what I like to call it). The bears in the PM sector are out in force and I even watched a recent interview (hat tip to John Rubino at dollarcollapse.com for the link) talking about the Gold "bubble" collapsing with a book to back it up (an "author" sound more authoritative than a "blogger," eh?) - here's the link for those interested in hearing the other side of the debate. Me? I'll stick with Gold. It's a no-brainer for the long term. Short-term? Sure, we can correct more. I would love a dip below $1600 to shake out a few more weak hands while Gold stocks take one more dive before starting a new cyclical bull market. But these are short-term, casino-related concerns, not the big picture. The big picture is shown below, a monthly chart of the Gold to Dow ratio ($GOLD:$INDU) from 1980 thru today's close:  Its stocks, real estate, cash, bonds or hard assets. I'll take cash in a secular economic contraction/Kondratieff winter/economic depression. However, I prefer cash that cannot be debased by decree, so I'll stick with Gold. I want to be like a banksta with the money left over to buy assets for pennies on the dollar some day when the house of cards finishes falling. The nice thing about Gold is that this will work in both a deflationary or hyperinflationary poop storm. Those who say Gold isn't a good hedge against deflation haven't studied their history. One of the hallmarks of a depression is that the purchasing power of Gold rises, which has been happening since 2000. The Gold to Dow ratio is only one example. Try the Gold to real estate ratio (in most parts of the world), Gold to commodities ratio or Gold to bonds ratio. They all add up to the same thing: Gold continues to trump other asset classes and this trend is nowhere near completion. And yes, I am aware of what happened to Gold in the fall of 2008. For anyone asking: are you aware that Gold was back at $1000/oz by February of 2009 (i.e. net flat during the deflationary crash) while stocks kept right on going lower into their March lows? Having settled the long term (in my own mind, at least), I still enjoy the short term. Short term tactics are technically based, not fundamentally based. Trading is a tough game and 95% of traders fail. I like the game and have learned to be quite good at it, but it is not for everyone. I will go long or short any asset class if I think there is money to be made when trading (for example, I have a short position in Gold stocks right now). As for investing, however, you couldn't get me to touch paper cash, bonds, most real estate, or most common stocks with a ten foot pole. I'll become a paperbug again, but only once we have reached reasonable historical metrics to support such a move (e.g., how about a dividend yield for the average common stock in the 7-10% range?). Right now, my subscribers and I are waiting to buy the next low in the precious metals patch, which is certainly close to being here. If this pending low isn't "THE" low, it won't matter to me from a trading perspective, because I can still make a lot of money trading "a" low. If you are crazy enough to try to trade with a portion of your capital, consider trying my low-cost subscription service. A one month trial is only $15. If you're too smart to take that kind of risk, then hold onto to your shiny, precious, edible Gold until the Dow to Gold ratio hits 2 (and we may well go below 1 this cycle).  ![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_4.gif) 
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| A Return to the Gold Standard, or Gold Behind Currencies – Part 4/5 Posted: 19 Apr 2012 01:00 PM PDT Today we have a set of circumstances that are totally different to those times. All currencies are in a "dirty float" that sees exchange rates moving relatively freely, being the subject of market forces, including manipulation by their own governments. The days of revaluation and devaluation are things of the past. So no amount of systemic change will see the re-imposition of fixed exchange rates. Any new monetary system or adjustment to the present system will have to accept this reality.
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| MUST WATCH & SHARE: THE SHOCKING TRUTH OF THE PENDING EU COLLAPSE! Posted: 19 Apr 2012 12:59 PM PDT from 2012sprint :
When the hell do we, the so called "common people", wake the hell up? Unlimited money supply is not enough for these people. They want our souls!! ————————————————————- "It's organized crime." – Matt Taibbi
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| Eveillard – We Are Looking At Catastrophe Going Forward Posted: 19 Apr 2012 12:47 PM PDT from KingWorldNews: With global stock markets trading red almost entirely across the board, but gold and silver remaining firm, today King World News interviewed legendary value investor Jean Marie Eveillard, who oversees $50 billion at First Eagle Funds. KWN wanted to get Eveillard's thoughts on the continued turmoil and what investors should be doing in this environment. Here is what Eveillard had to say: "How I interpreted what was said last year by David Einhorn, at Jim Grant's conference, was that Bernanke is some kind of madman. Bernanke has written about the Great Depression and got it almost all wrong regarding the real causes of the depression. He is intent on printing money to show that it's the only way to avoid a return to the Great Depression." Jean-Marie Eveillard continues: Robert Fitzwilson Continues @ KingWorldNews.com |
| Guest Post: Floating Exchange Rates - Unworkable And Dishonest Posted: 19 Apr 2012 12:41 PM PDT Submitted by Keith Weiner, president of the Gold Standard Institute USA Floating Exchange Rates: Unworkable and Dishonest Milton Friedman was a proponent of so-called "floating" exchange rates between the various irredeemable paper currencies that he promoted as the proper monetary system. Many have noted that the currencies do not "float"; they sink at differing rates, sometimes one is sinking faster and then another. This article focuses on something else. Under gold, a nation or an individual cannot sustain a deficit forever. A deficit is when one consumes more than one produces. One has a negative cash flow, and eventually one runs out of money. The economy of a household or a national is therefore subject to discipline—sooner or later. Friedman asserted that floating exchange rates would impose the same kind of forces on a nation to balance its exports and imports. He claimed that if a nation ran a deficit, that this would cause its currency to fall in value relative to the other currencies. And this drop would tend to reverse the deficits as the country would find it expensive to import and buyers would find its goods cheap to import. Friedman was wrong. To see why, one must look at the concept known to economists as "Terms of Trade". This phrase refers to the quantity of goods that can be purchased with the proceeds of the goods exported. For example, country X uses the xyz currency. It exports xyz1000 worth of goods and it can thereby pay for xyz1000 worth of imports. But what happens if the xyz drops relative to the currency's of X's trading partners, because X is running a trade deficit? The country exports the same goods as before, but they are now worth less on the export market. So X can pay for fewer goods than before. Buying the same amount of goods will result in a larger deficit. At this point, one may be tempted to say "Ahah, Friedman was right!" But remember, we are not talking about a gold standard. We are talking about an irredeemable paper money system. Money is borrowed into existence. Looking at the trade deficit from the perspective of Terms of Trade, we see that trade deficits lead to budget deficits, which leads to a falling currency, which leads to increased trade deficits. It is not a negative feedback loop, which is self-limited and self-correcting. It is a positive feedback loop. There is no particular limit to this vicious cycle until the country in question accumulates so much debt that buyers refuse to come to its bond auctions. And this is not a correction or a reversal of the trend; it is the utter destruction of the currency and the wealth of the people who are forced to use it. And, of course, Friedman had to be aware that America was likely to be biggest trade deficit runner in the world. Its currency, the dollar, was (and is) the world's reserve currency. That means that every central bank in the world held dollars as the asset, and pyramided credit in their own currencies on top of the dollars. What would happen if the dollar weakened because the US was importing real goods and exporting paper dollars? The US would simply import the same goods next year and export even more paper dollars to compensate for the drop in the dollar! Friedman would have also been aware of the economist Robert Triffin, who wrote in the early 1960's about a problem that became known as Triffin's Dilemma. In essence, the issue is that the world needs to expand credit to grow and so has demand for more US dollars. But this can only occur if the US runs a perpetual trade deficit, which would weaken the US dollar. To the central banks that hold dollars as the reserve asset, this is deadly. Like any bank, a central bank has assets and liabilities. If a significant component of the assets are composed of US dollars, and the US dollar falls, the central bank's balance sheet deteriorates. The liabilities side, of course, is the central bank's own currency. So the asset is falling and the liability is not. This is a dangerous situation and unsustainable. And to blithely propose this as a system is to propose open theft. Why should any country agree to allow the US to dissipate its savings, defaulting on the US dollar obligations in slow motion, a few percent per year as Friedman proposed? The scheme of floating exchange rates of irredeemable paper currencies is therefore dishonest as well as unworkable. Today, some 40 years after the plunge into the worldwide regime of irredeemable paper currencies, it's starting to matter. Copyright Keith Weiner, president of the Gold Standard Institute USA
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| TrimTabs: Talking Gold with Eric Sprott Posted: 19 Apr 2012 12:38 PM PDT from TrimTabs:
TrimTabs President & CEO Charles Biderman interviews Eric Sprott of Sprott Asset Management to get the truth behind gold.
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| Posted: 19 Apr 2012 12:24 PM PDT [Ed. Note: The pathetic, predatory nature of the Western power elite gutting Syria, just as they've gutted Iraq, Afghanistan, Egypt and Libya (and Ireland and Greece), is painfully obvious for all with eyes to see. Sadly, we live in the land of the blind.] Western and Arab sanctions have caused Damascus' currency to sink and depleted its cash reserves, forcing Syria to seek to sell its gold. by Gabe Kahn, Israel National News :
Syria is moving to liquidate its gold reserves to raise revenue as Western and Arab sanctions targeting its central bank and oil exports cut into its cash reserves. Syria's foreign exchange reserves have been halved from about $17 billion, French Foreign Minister Alain Juppe said on Tuesday. "Syria is selling its gold at rock bottom prices," he said after a meeting with about 60 nations aimed at coordinating measures against President Bashar al-Assad's government. On February 27, the European Union agreed more sanctions including prohibiting trade in gold and other precious metals with Syrian state institutions, including the central bank. According to reports Syrian officials have been offering to sell gold at a 15 percent discount in discreet amounts of 20-30 kilograms, which are easier to move in private sales and online auctions. Read More @ IsraelNationalNews.com
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| World Silver Mine Supply for 2011 Increased by 1.4% to 761.6 Million Ounces Posted: 19 Apr 2012 12:19 PM PDT from Silver Doctors:
Thomson Reuters GFMS forecasts 'just above' $40/oz high for silver Total world silver supply fell by 34.1 million ounces to 1.04 billion ounces last year says the World Silver Survey 2012 released by the Silver Institute. World mine silver supply increased by 1.4% to a new record of 761.6 million ounces of 23,689 tonnes last year. However, primary silver supply fell last year, due to a fall in processed grades. By-product silver output from both the gold and lead/zinc sectors was up in 2011, the survey found. The world's top five silver producing nations were, in order of rank, Mexico, Peru, China, Australia and Chile. The top 10 silver producing companies were, according to rank, KGHM, BHP Billiton, Fresnillo, Goldcorp, Pan American Silver, Volcan Cia Minera, Polymetal International, Coeur d'Alene Mines, Cia De Minas Buenaventura, and Hochschild Mining. Commentary from SD Contributor SRSRocco: The 2012 World Silver Survey was released today, but the Silver Institute has not yet released the new data on their website. As I mentioned in my comment yesterday, I knew KGHM Polska was going to be the largest silver producing company in the world and I had a good idea that overall global silver production would be 755-760 million ounces… it came in at 761.6 mil oz and not the 770-775 mil that was forecasted in the beginning of 2011. The reason why the total supply of 1.04 billion oz (mine + Scrap + govt sales) was down 34 mil oz compared to last year, was due to a huge drop of GOVT SALES.
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| Posted: 19 Apr 2012 11:56 AM PDT by Harvey Organ, HarveyOrgan.Blogspot.ca: Good evening Ladies and Gentlemen: Gold closed today up $1.80 to 1640.60. Silver refused to buckle today as this cousin of gold rose 29 cents to $31.77. Gold showed great strength in the early hours of the morning when Europe was in full swing. However the bankers showed up at the usual time and whacked gold and silver down. With lousy USA economic news, gold rebounded to the $1655 level only to be beaten down by the crooked bankers. Silver followed the path of gold except at the end of the day holding onto some of its gains. The Spanish auction was dismal as yields were set at 5.74%. Immediately after the auction yields rose steadily closing at 5.92%. Italian 10 yr bond yields also rose finishing the session at 5.62%. We will go over all of these points but first let us head over to the comex and assess trading: Read More @ HarveyOrgan.Blogspot.ca
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| Eric Sprott Interview: Silver, Gold, Mining Stocks and more – GoldSeek.com Radio Nugget Posted: 19 Apr 2012 10:02 AM PDT from Gold Seek Radio:
Eric Sprott Interview: Silver, Gold, Mining Stocks and more – GoldSeek.com Radio Nugget Eric Sprott has earned a recognized standing not only as one of the world's premiere gold and silver investors, but also as an expert in the precious metals industry. Eric Sprott is Chairman of Sprott Money Ltd. Additionally, he is CEO, CIO and Senior Portfolio Manager of Sprott Asset Management LP and Chairman of Sprott Inc.. He has been stunningly accurate in his predictions including foreseeing the current financial crisis. He chronicled the dangers of excessive leverage, as well as the bubbles the Fed was creating, while correctly forecasting the tragic collapse of the housing and financial markets in 2008. Eric's predictions on the state of the North American financial markets have been captured throughout the articles that he authors titled "Markets At A Glance". To download the free mp3 file: Click Here
This posting includes an audio/video/photo media file: Download Now |
| Posted: 19 Apr 2012 10:00 AM PDT Gold and silver will both rise far above their current levels. "When" is unknowable. "Why" is due to the unremitting and insolent amorality of central bankers and their practices. If not Simple Ben at the Fed, his compatriots across the globe are a daily source of confusion, contradiction, and stupidity. The stupidity may be real or it may have evolved from an unwillingness to think, as George Orwell wrote of Stanley Baldwin's and Neville Chamberlain's abdication of responsibility in the 1930s: "What is to be expected of them is not treachery or physical cowardice, but stupidity, unconscious sabotage, an infallible instinct for doing the wrong thing… Only when their money and power are gone will the younger among them begin to grasp what century they are living in." It is important — for those who care about the ascent of gold — to understand it does not matter why they are stupid. It matters that their stupor will continue until the current monetary and credit system is paralyzed. We can be sure of that. Orwell explained: "Clearly there was only one escape for them — into stupidity. They could keep society in its existing shape only by being unable to grasp that any improvement was necessary." The central bankers have no other policy than to support asset prices. They have elevated and taken control of markets beyond the point of withdrawal. There is no way back. As discussed in "Peak Imbalances are Falling," foreign central banks have bought over $5.5 trillion of US Treasury securities: the reason 10-year US Treasury bonds yield 2.0%. Interest rate suppression is also fundamental to Eurocrat domination. The two attempts at salvaging the European banking system (over one trillion euros lent by the ECB to European banks in December 2011 and February 2012) have failed. The stock price of Banco Santander, the Spanish bank advertised as not exposed to Spanish real estate, has fallen back to the level of mid-December 2011. The country's banking system is kaput. Again, there is no way back. Bianco Research in Chicago calculates the balance sheets of the world's six largest central banks are now twice the size of 2006. With $13.2 trillion of assets, they will double their size again, if they can. For as long as they can, there will be times when confidence in Bernanke and Draghi knock gold and silver for a loop. At some point ("When"), the emperor will wear no clothes. Central banking currencies will be rejected. Gold and gold stocks (hang in there, any day now), will be the currency of choice. In Frozen Desire (1997), James Buchan wrote: "I have watched the most able men and women in my generation, who might have created unexampled monuments in moral philosophy, mathematics, or engineering, waste their time in a prattle of non-accelerating inflation rates of unemployment… [E]conomics…has retreated into algebra. A profession that begins with priests [alchemists]…ends with hermits. Political economy is now, I suspect, in the same condition in which Scholastic learning found itself on the eve of the Discoveries. It is about to explode." Regards, Frederick J. Sheehan, No Way Back originally appeared in the Daily Reckoning. The Daily Reckoning, published by Agora Financial provides over 400,000 global readers economic news, market analysis, and contrarian investment ideas. Recently Agora Financial released a video titled "What is Fracking?".
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| Posted: 19 Apr 2012 09:46 AM PDT Gold Price Close Today : 1640.60 Change : 1.80 or 0.11% Silver Price Close Today : 3177.10 Change : 29.30 cents or 0.93% Gold Silver Ratio Today : 51.638 Change : -0.423 or -0.81% Silver Gold Ratio Today : 0.01937 Change : 0.000158 or 0.82% Platinum Price Close Today : 1575.80 Change : -0.80 or -0.05% Palladium Price Close Today : 662.25 Change : 4.85 or 0.74% S&P 500 : 1,376.92 Change : -8.22 or -0.59% Dow In GOLD$ : $163.35 Change : $ (1.03) or -0.63% Dow in GOLD oz : 7.902 Change : -0.050 or -0.63% Dow in SILVER oz : 408.05 Change : -5.98 or -1.44% Dow Industrial : 12,964.10 Change : -68.65 or -0.53% US Dollar Index : 79.59 Change : 0.055 or 0.07% Once again, the GOLD PRICE close looks like a little mouse-burp nothing, but the closer you look the better it looks -- even though it posted a new low today. Overnight the GOLD PRICE was rocking along between $1,638 and $1,646. Then the selling started about an hour before New York opened. Rapier flashing in the air, gold was driven back to $1,631.57, pushed away its adversaries, backed to the wall again, then advanced like one of Samson's foxes, straight up to $1,652.62. Too bad, couldn't hold on quite that high and was driven back again by closing time to $1,640.60, up only $1.80. 'Tain't much, but it is a new low followed by a higher close, the first half of a key reversal. To clinch that, GOLD must close higher again tomorrow. I smell mackerel in this action; somebody is bullying gold. The SILVER PRICE pushed for 3200c today, but fell back at 3199c. One day chart resembles gold's, with an attack early in the morning that drove silver to 3136.7 (not a new low), and from which silver by 10:00 a.m. had risen to its day's high. Settled up 29.3c on Comex at 3177.1c. That 3199c, by the way, is silver's 20 DMA, trip wire of a rally, and it marks the upper boundary of that falling wedge I alluded to yesterday. It's not much of an uptrend, but the SILVER 5 day chart does show a series of higher highs and higher lows. Silver must stay above that 3136.7c level or risk sliding much further. I've been staring at charts today, and am once again impressed that the overwhelming likelihood is that bottoms for silver and gold lie behind us, in December. Downside risk in gold from here isn't more than 6%, I reckon, and that would take a $100 drop. Not likely. Another witness shouting that silver and gold have turned is the nationwide deadness in the physical silver and gold market. Dealers I talk to report having to take No-Doz during the day just to stay awake. Sure sign a bottom has passed. Maybe the Great and Mighty NGM are engineering things to quietness here in the run-up to the IMF meeting this weekend. IMF chieftess, Christine Lagarde, is honking her horn like Clarabelle trying to get more suckers -- whoops, make that "nations -- to contribute to the IMF's bail out fund, which it almost certainly will need for Spain, Italy, and maybe even France. If y'all have ever dealt with an alcoholic or drug addict, you know that they are unable to change, although as long as they keep on doing the same thing, the same results will come forth. In precisely the same fashion, but with significantly greater moral blame, comes the entire financial and monetary apparat of the world. We have to keep on watching them doing the same stupid thing -- inflating and bailing out -- which didn't work in the first place, and won't work in the last place. Worst of all, like Christine Lagarde, they pose as public benefactors when in fact they are no more that wretched vampires, sucking the lifeblood out of honest productive people. Whoops. Sorry. Let us leave the truth behind and move on to markets and such-like theater. Currency markets remained flat, except for the yen, which has a touch of nausea. Dollar index is now trading at 79.575, down an invisible 1.7 basis points. Euro rose 0.11% to $1.3136, nothing big or life-changing. Yen dropped 0.34%, still below its 50 dma (123.14c) and aiming at the 20 DMA beneath (122.14c). Now trading at 122.62c (Y81.55/US$1). If it crosses that 20 DMA we can conclude the yen's spicy rally was no more than a reaction in an on-going downtrend. Woe is Wall Street! Dow today fell through that morale-damaging 13,000 line, down 68.65 (0.53%) to 12,964.10, right back to where it stood on Monday. S&P500 lost 0.59% (8.22) to 1,376.92. Today I will venture yet another unpopular observation. Dow has formed a head and shoulders topping formation with a neckline at 12,700 and a nearly completed right shoulder and formation. Mark also that the MACD looks iffy and the RSI offers little encouragement. Steve Saville pointed out in his Speculative Investor today (www.speculative-investor.com) that of all the stock indices in the wide world, only the Dow and S&P500 have made higher highs than 2010 and 2011, and some are below 2008 levels (Spain, e.g.). One is tempted to speculate that the Nice Government Men in the US -- the Plunge Protection Team -- and the Fed want to keep those Potemkin indices up to keep all the investing ovines in the fold. Did y'all ever see Jim Carrey in the movie, The Truman Show? 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. 
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| Posted: 19 Apr 2012 09:33 AM PDT Dave Gonigam – April 19, 2012
Below these four words he pasted a story about a proposal in Congress to prevent Americans from traveling overseas if they owe more than $50,000 to the IRS. We confess this item crossed our awareness two weeks ago. But we've become so inured to the onslaught of assaults on basic liberties that we couldn't summon enough outrage to bother writing about it. Especially when you can already have your travel privileges pulled for owing a mere $2,500 in back child support. But in the spirit of Patriots' Day — the 237th anniversary of the Battles of Lexington and Concord that launched the American Revolution — we inventory a series of recent outrages. And more important, we offer a vehicle to do something about it other than stew… or, worse, vote.
(It's called the "Moving Ahead for Progress in the 21st Century Act," or MAP-21 for short. Congressional aides get six-figure salaries to come up with this stuff.) This way, if you're involved in a crash, investigators will know at minimum the speed of the vehicles before impact… and whether everyone was wearing a seat belt. "Coupled with GPS systems, the devices could provide the police with the ability to monitor private citizens' movements in real-time," says the law firm O'Reilly Collins in an analysis of the bill. To say nothing of making cars more expensive and beyond the reach of the ever-shrinking middle class.
"Undercover officers are now riding selected Metro buses as part of a pilot program focusing on counterterrorism," reports today's Houston Chronicle. "TSA was present to bolster the uniform presence on the (transportation) system," said the transit system's police chief. "They provided behavioral detection officers who are specially trained to identify aberrant behaviors that may indicate potential terrorist activity." They were doing more than that, according to a contributor at the website Houston Free Thinkers: "When I arrived at Wheeler I… instantly noticed the massive police presence," writes Phillip Levine. "The police presence consisted of DHS, metro police, HPD, TSA and Harris County police officers. They were going on to buses searching and stopping people for questions." We haven't seen this account independently verified… but if true, this is a new and dramatic power grab. Even in New York, cops conduct random searches at the entrances of subway stations… but passengers reserve the right to turn around and leave.
An officer was responding to a domestic disturbance call. "The 911 caller mistakenly gave the wrong address," reports KVUE-TV. Paxton, getting something out of his truck parked in the driveway, had the ill fortune of being the first person the officer saw. The officer gets out of his squad car with his gun drawn. First he tells Paxton to put his hands up. Then Paxton's dog — a blue heeler named Cisco — comes out from the backyard. So the officer tells Paxton to control his dog. Paxton, understandably reluctant to move his hands to perform that task, says frozen. Seconds later, Cisco lies in a pool of blood. No one keeps national statistics of how often police shoot dogs. But "puppycide" is an almost daily fixture at the blog of Reason and Huffington Post writer Radley Balko. Records show one large Florida agency, the Broward County Sheriff's Office, has shot five dogs so far this year, and 12 last year. Remarkably, Mr. Paxton managed to avoid arrest for "disobeying a lawful order." And because he kept his cool despite his instant grief, he also steered clear of "disorderly conduct."
Actually, you can be thrown in debtors' prison even if you're innocent. "In some states public defender, pretrial jail and other court fees can be assessed on individuals even when they are not convicted of any crime," writes George Mason University economist Alex Tabarrok, who appears in Addison's documentary-in-progress Risk! "Failure to pay criminal justice fees can result in revocation of an individual's driver's license, arrest and imprisonment." "Many of these charges," he goes on, "are not for any direct costs imposed by the criminal, but have been added as revenue enhancers." In Pennsylvania, for instance, a $5 fee supports the County Probation Officers' Firearms Training Fund, an $8 fee supports the Judicial Computer Project, and a $250 fee goes to the DNA Detection Fund.
"The state is always inclined toward oppression, division, conquest and bloodshed, because these are its tools of trade," writes the Independent Institute's Anthony Gregory in an essay marking a rather different anniversary today. It's titled "We're All Branch Davidians Now." "In the 19 years since Waco," writes Mr. Gregory, "we have seen the police state explode in every direction, and now we are all ensnared." "The prisons have swollen to the largest detention system since Stalin's gulags. The police conduct 3,000 SWAT raids a month. The war on terror has made a total mockery of what remained of the Fourth Amendment. Torture has lost its taboo. So has indefinite detention. The feds irradiate and molest airline passengers by the millions." "People are jailed for taking medicine, buying Sudafed, sharing songs and selling milk. The Kafkaesque regulatory state threatens people of all economic classes with crushing fines and a fate in a cage." "Every major police department has tanks and battle rifles and drones that are being used for surveillance and God knows what else. Each federal department has enough firepower to conquer a small third-world country. DHS alone has ordered enough ammo to shoot every American man, woman and child. The president claims the right to kill American citizens anywhere on the planet on his say-so alone. And he exercises that power."
Which brings us to a critical project we've had in the works for months. "The more aggressive the government becomes in restricting our day-to-day activities," writes Addison, "the more important this project becomes." It's nothing less than your chance to join kindred spirits in taking your freedom back, one step at a time. Don't know where to begin? We have a special report laying out 10 steps you can take to get government out of your home. Every one of these steps is legal — at least for now — but they also poke sharp fingers in the eyes of busybody bureaucrats. Access to this report will also entitle you to join a virtual community of like-minded people. Together, you'll enjoy an array of benefits spelled out here. We don't aim with this project to put big government back in its place; at this point, that's a fool's errand. But we do aim to give you new options to reclaim the power that's your birthright. Check out exactly what's in it for you at this link.
Traders exhaled after another Spanish bond auction came off with little trouble. And they're weighing the following numbers…
"As we approach expiration Friday," Options Hotline editor Steve Sarnoff wrote his readers last night, "we could see a vulnerable market produce some sharp whipsaw conditions." As of this morning, one of Steve's recommendations — a play on a rising Big Pharma stock — is up 156% in less than two months. Last week, a play on a falling natural gas producer was good for a 114% gain. We can't promise Steve will generate money-doubling plays every week… but we can promise the next best thing based on the track record Steve — and his father before him — amassed over a 22-year span. And if you act before his next recommendation on Sunday, you get access to this service at half the regular fee.
 OK, Venezuela and Egypt both climbed off the floor after political upheaval — which in both cases is far from over. But No. 3 Vietnam has an interesting story to tell. Actually, Chris Mayer told it to his readers last December after a visit there, and before the big run-up: "Inflation is out of control with prices rising around 20% annually. Vietnam is also like China, in that its government directed a lot of investment in things that soured. The banking sector, therefore, is riddled with worms." But the banks were still open, farmers were planting, builders were building and manufacturers were producing. "You can easily get caught up in the doom and gloom, but the fact is life goes on. If you can stick it out, there are often great opportunities in such cheerless environments." It's gratifying to see Chris' research borne out in real time. If you're looking for concrete ways to play the trends he's spotted during his extensive travels, you owe it to yourself to grab a copy of his new book World Right Side Up.
Yesterday, a local congressman's proposal to strip pennies and nickels of their metal value got a hearing in a House subcommittee. The bill, proposed by Republican Steve Stivers, "would ensure that pennies and nickels are made of steel, although pennies would be dipped in copper," says the report. The issue is one we've documented before: The current coins' metal content is worth more than the value stamped on the back.  to keep the fiat currency treadmill from seizing up… We're getting closer to the day Whiskey & Gunpowder's Gary Gibson forecast in these pages in February: "When the price of the metal gets high enough, a market will naturally become established for the coins and that market will be use the higher-content value, not the lower face value. "The same thing happened to pre-1965 silver dimes, quarters and half dollars. These coins have traded for their metal value since shortly after their production ceased." It's the most accessible arbitrage opportunity out there. As long as you have the storage space, anyway… Cheers, Dave Gonigam P.S. Online registration for the 2012 Agora Financial Investment Symposium is now available. This year's gathering brings together familiar faces with those who haven't joined us lately… and a couple of new ones joining us for the first time. For the complete speaker lineup, dates and pricing details, please review your invitation.
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| Spain is Greece… Only Bigger and Worse Posted: 19 Apr 2012 09:10 AM PDT On the Surface, Spain’s debt woes have many things in common with those of Greece:
However, you’ll note that as we tackle each of these, Spain is in fact in far worse fiscal shape than Greece.
Currently there is one person of non-working age (65 or older) for every four people of working age (15-64) in Spain. This is expected to worsen to one person of non-working age for every three people of working age by 2025 and an astounding more than one person of non-working age for every two people of working age by 2040.
These demographics alone set Spain up for a sovereign debt Crisis. According to Jagadeesh Gohkale of the Cato Institute Spain would need to have 250% of its GDP sitting in a bank account collecting interest forever in order to meet its unfunded liabilities without raising taxes or cutting government outlays.
That, in of itself, is bad news for Spain. But Spain’s banking system are what really set it apart. Let’s consider the following facts about Spain’s banking system:
However, even these don’t paint the real picture. Thanks to a property bubble that dwarfed the US in relative terms, Spain’s economy and corporate arena are now literally saturated with debt.
Consider the following:
In simple terms, Spain is like Greece, only bigger and worse. According to the Bank of International Settlements worldwide exposure to Spain is north of $1 TRILLION with Great Britain on the hook for $51 billion, the US on the hook for $187 billion, France on the hook for $224 billion and Germany on the hook for a whopping $244 billion. However, as I have proven in previous articles, the Bank of International Settlements’ estimates actually underestimate the true exposure EU nations pose to the financial system (for instance, the Bank of International Settlements claims German exposure to Greece is only $3.9 billion… when Germany’s Deutsche Bank alone has over 2.8 BILLION Euros’ worth of exposure to Greek debt and businesses). And Germany has TENS of other banks with exposure to Greece besides Deutsche Bank.
So it is safe to assume that global exposure to Spain is well north of $1 trillion. So if Spain chooses in any way to stage a default/ messy debt restructuring, we’re going to see:
So if you’re not already taking steps to prepare for the coming collapse, you need to do so now. I recently published a report showing investors how to prepare for this. It’s called How to Play the Collapse of the European Banking System and it explains exactly how the coming Crisis will unfold as well as which investment (both direct and backdoor) you can make to profit from it.
This report is 100% FREE. You can pick up a copy today at: http://www.gainspainscapital.com
Best Regards,
Graham Summers
PS. We also feature numerous other reports ALL devoted to helping you protect yourself, your portfolio, and your loved ones from the Second Round of the Great Crisis. Whether it’s a US Debt Default, runaway inflation, or even food shortages and bank holidays, our reports cover how to get through these situations safely and profitably.
And ALL of this is available for FREE under the OUR FREE REPORTS tab at: http://www.gainspainscapital.com
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| Bottom Forming In Precious Metals and Miners Posted: 19 Apr 2012 08:43 AM PDT We are encountering storms in the market rarely seen. The volatility has affected many mining equities with many high quality assets selling at record low prices. Portfolios have rarely seen such see saw price activity as they have this year. Sacrosanct rules are simply not working. The markets are thwarting and aborting attempts to use time tested approaches. The great Scottish Poet Robert Burns described the current market by writing, "the best made plans of mice and men go oft astray." He also observed "alas in this world there is more offal than poetry." But poetry hardly pays and compost does. Gold Stock Trades (GST) tries to tell it like it is. We do not use the technical jargon of the engineers and the economists that serve more to confuse and obfuscate the investor. In fact it was Einstein who stated, "the nth degree of complexity is simplicity." GST attempts to cut away the fat from the meat. So how do we direct you through these present swamps of despond and misdirection? Remember the October 4th low and our GST reversal signal at 1074 on the S&P 500 made a "V" turnaround and vaulted to a new 52 week high. It remains to be seen whether the rally we have called will mark a rotation into the resource markets and precious metals. If blood is not flowing for mining investors, they are certainly coloring our screens red, while the moribund banks and housing stocks soar driving the S&P higher. Fundamentally something is just not right. The U.S. debt crisis is far from over and this basing period in precious metals and commodities may turn out to be an exceptional buying opportunity as investors rotate from overbought U.S. equities, treasuries and dollars into high quality wealth in the earth assets. In such a scenario, the U.S. dollar and long term bonds by comparison looks attractive when stacked up against the crumbling currencies of the Eurozone. The chart shows an anomaly occurring. In 2008 and 2010 during the credit crisis and sovereign debt crisis, the dollar and treasuries rallied together. In 2011 and 2012, treasuries hit record highs, yet the U.S. dollar is not at comparable levels. This may indicate that the greenback is losing the safe haven appeal of yesteryear. We note with interest that in 2011 the Chinese Metal Exchange in Shanghai made ominous noises about raising the margin rate on silver. It would seem that the bankers consistently choose to handicap silver and gold while favoring U.S. bank stocks, dollars and treasuries. Eventually we believe this suppression of precious metals can only be kept down for a discrete period of time before the pressure mounts in the favor of gold and silver, as if and when Bernanke and his European colleagues return to the printing presses as they have done before and are now indicating to do again. The miners (GDX) are once again declining and are testing two year lows creating a firesale discount on blue chip producers. The miners are trading at a significant discount to gold at less than $1200 an ounce. Some top notch mining assets in the United States are trading at less than $17 an ounce of resource. This indicates investors are forecasting lower gold prices. We disagree and believe the crowd is wrong here. We are actually near a bottom in precious metals and miners. A turn around should be coming sooner rather than later. For many months GST has said that there may be a master Keynesian strategy that is being followed to revive the moribund banks of Europe and the United States. This is an ideal time to make this move, the U.S. dollar appears to be stronger for the time being, U.S. bonds are selling at relatively record low yields, unemployment remains high, commodities/precious metals have significantly corrected and the risk of inflation has abated. In fact, they may be already printing LTRO 2 to staunch the Eurozone collapse. Just as QE2 was used by the Federal Reserve Board to staunch the bleeding of the Eurozone in 2010, it is entirely possible that they will institute the latest version of can kicking down the road. Let us hope they "follow the yellow brick road" and we may witness a rotation from overbought equities into tangible assets, commodities and mining equities.
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| Gold Daily and Silver Weekly Charts - Winding Up for a Move - Tomorrow Is Stock Option Expiry Posted: 19 Apr 2012 08:15 AM PDT |
| Eveillard - We Are Looking At Catastrophe Going Forward Posted: 19 Apr 2012 08:06 AM PDT  With global stock markets trading red almost entirely across the board, but gold and silver remaining firm, today King World News interviewed legendary value investor Jean Marie Eveillard, who oversees $50 billion at First Eagle Funds. KWN wanted to get Eveillard's thoughts on the continued turmoil and what investors should be doing in this environment. Here is what Eveillard had to say: "How I interpreted what was said last year by David Einhorn, at Jim Grant's conference, was that Bernanke is some kind of madman. Bernanke has written about the Great Depression and got it almost all wrong regarding the real causes of the depression. He is intent on printing money to show that it's the only way to avoid a return to the Great Depression."
This posting includes an audio/video/photo media file: Download Now |
| Ira Epstein's Weekly Metal Report Posted: 19 Apr 2012 07:50 AM PDT Gold prices in the short term continue to look overall bearish. Old news, which is being twisted into new headlines, is once again front and center. Spain, Italy, Iran, the US economy, quantitative easing and the old economic issues in America, Europe and China remain the dominant stories of the day.
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| Inflation and Hidden Gold Taxation: 3 Historic... Posted: 19 Apr 2012 07:32 AM PDT SafeHaven
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| Mongolia's "Ninja" Miners Help Sate China's Lust For Gold Posted: 19 Apr 2012 06:00 AM PDT "With yesterday's volume in both gold and silver at very low levels, I'm not prepared to read much of anything into yesterday's price action in either metal." ...
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| Posted: 19 Apr 2012 05:57 AM PDT London Gold Market Report from Adrian Ash BullionVault Thurs 19 April, 08:55 EST U.S.DOLLAR PRICES to buy gold slipped to two-week lows in London's wholesale trade on Thursday, "falling victim to a strengthening Dollar" as one analyst put it while stock markets and commodities also gave back earlier gains. The European single currency failed to hold above $1.3150 for the 3rd day running, dropping despite Madrid successfully auctioning some €5 billion in new Spanish debt. Prices to buy gold were little changed for Euro investors, holding flat for the day at €41,180 per kilo, despite falling $10 per ounce to $1634 against the Dollar. "The upside is very heavy because the Euro remains under pressure [vs. the Dollar]," Reuters today quoted Peter Fung at Wing Fung Precious Metals in Hong Kong. "Weak physical demand isn't helping," he added, saying that a price-drop to $1600 would likely encourage traders to buy gold. "Physical buying out of Asia is strengthening as we a...
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| Posted: 19 Apr 2012 05:56 AM PDT Jim Sinclair's Commentary As competitive exchanges challenge the COMEX, they challenge the dollar as an international contract settlement mechanism. Not a week goes by that we do not see more challenges to the dollar settlement role. This is a challenge to demand as dollar supply has risen exponentially (QE). It must impact price and Continue reading In The News Today
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Why do chimpanzees throw poop? The federal government would like to know and is using your tax dollars to investigate the matter. Every single year, we all send huge amounts of our hard-earned money to the federal government. We hope that they will spend that money wisely. Unfortunately, that is simply not the case. You are about to read some examples of how the government is wasting your money that are absolutely mind blowing. Anyone that claims that there is not a lot of waste that can be cut out of the federal budget is lying to you. Our politicians have racked up the 
The 2012 World Silver Survey was released this morning by the Silver Institute.
"Where is the outrage?" read the email from Chris Mayer.
Every new automobile sold in the United States come 2015 must be equipped with a "black box," under the same odious legislation that links your passport to your back taxes.
Want to take the bus instead? Count on the TSA to give you a hard time.
If you stay at home, you always run the risk of police shooting your dog. That's what happened to Michael Paxton of Austin, Texas, last weekend.
If you happen to run afoul of the law and for whatever reason cannot pay your fine, you run the risk of being thrown in a modern-day debtors' prison.
And these are the outrages we've collected from the last three days alone.
Mr. Gregory's litany reminds of nothing less than the itemized grievances Thomas Jefferson laid out in the Declaration of Independence — you know, the "boring" part that gets glossed over in history class.
Turning to the markets, the major U.S. stock indexes are ruler-flat this morning. For now, Dow 13,000 still holds.
We did a double-take when we came across this list of the world's best-performing stock markets during the first quarter of 2012…
Gold remains caught in a tight trading range, as it has most of the week. At last check, the bid was $1,640. Silver's showing a little life, though, up to $31.82.
"Talk about currency debasement in yesterday's 5!" writes a Reserve member from Ohio. "The race to the bottom continues," he says, pointing us to an article in The Columbus Dispatch.
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