saveyourassetsfirst3 |
- do you guys wear any PM's
- 3 WEEKS TO GO
- Treasury audits NY Fed's gold but only to evade leasing, swapping, oversubscription issues
- Gold mobilization not to hit majority of Vietnamese : SBV
- Friday Chart Porn: Value Play Of The Decade
- Gold and Silver End Mixed on the Week
- Sprott Physical Silver Trust offer underwriters take up additional units
- Completely Fabricated Jobs Report/All bourses in the green/risk off trading
- Turk – Gold Is In Backwardation & About To Rocket Higher
- Greyerz – The Risk Of Systemic Collapse Is Now Enormous
- Two Disturbing Gold Charts
- James Turk interview on KWN
- Treasury Audits NY Fed's Gold But Only to Evade Leasing, Swapping, Oversubscription Issues
- Gold to Rally Above $1,900 by End 2012: HSBC
- Four King World News Blogs/Audio Interviews
- SilverFuturist: Silver will resume it's uptrend when…
- Silver Update: FTT Kills HFT – 8.3.12
- 5 Companies Trading At A Forward P/E <5 With Recent Insider Buying - Part III
- What Is The Best Approach For “Little Folks”?
- Links for 2012-08-03 [del.icio.us]
- Draghi Disappoints and the IMF Warns About the US Fiscal Cliff
- Gold and Silver Regaining Footing As Treasuries Make Bearish Reversal
- The Impending Collapse of American Medicine
- The Second Greatest Story Ever Told
- Pirate Banking: $21 to $32 Trillion in Estimated Tax Haven Money, Managed by Big Global Banks
- By the Numbers for the Week Ending August 3
| Posted: 04 Aug 2012 11:44 AM PDT just wondering if and what you guys wear, im thinking of sporting one of those rings made out of a morgan dollar. anyways here's my current getup  is it needless to say i don't fly very often? |
| Posted: 04 Aug 2012 09:45 AM PDT 3 weeks, that's how long the bulls have left before stocks roll over and begin the next intermediate degree decline. That being said the next 2-3 weeks we should see some very healthy gains in virtually all asset classes. Why is that you ask? Because the dollar has begun moving down into an intermediate degree correction. As of Friday the dollar was on the 11th day of its current daily cycle. The normal duration of a daily cycle is 18 to 28 days, with the average being about 23 or 24 days. That would suggest that the dollar should bottom somewhere around August 21st or 22nd. As you can see in the chart below whenever the dollar moves down into an intermediate degree trough it generates strong gains in asset prices.  What follows once the dollar bottoms and the next intermediate degree rally begins is not going to be pretty. Stocks are going to start to struggle and ultimately move down hard in September and probably October if the Fed doesn't unleash QE3 at the September FOMC meeting. By the end of August, and certainly by the time we get into September the markets are going to call central bankers bluff, and it is going to take more than words and the threat of quantitative easing to keep asset prices propped up. I have covered the rest of the forecast in depth in the weekend report available to premium subscribers. I will again offer the $1 two day trial subscription to traders that would like to sample the premium newsletter. If you like the newsletter do nothing and it will automatically convert to a monthly subscription when your two day trial expires. If you decide the newsletter isn't for you just cancel your subscription by following the directions on the homepage before your trial expires. Click here to access the premium newsletter subscription page.        This posting includes an audio/video/photo media file: Download Now |
| Treasury audits NY Fed's gold but only to evade leasing, swapping, oversubscription issues Posted: 04 Aug 2012 09:00 AM PDT
from gata.org: Dear Friend of GATA and Gold: The Los Angeles Times reported yesterday that the U.S. Treasury Department is "auditing" the gold vaulted at the Federal Reserve Bank of New York, most of which is held in custody for other countries, but only to the extent of confirming the gold content of the bars kept there, and not touching on issues of ownership impairment, like swapping and leasing, the issues raised by GATA and others aggrieved by manipulation of the gold market. Indeed, the "audit" seems intended to dispel "conspiracy theories" without actually having to disclose anything about the U.S. government's gold market intervention policy, the issue at the heart of GATA's freedom-of-information lawsuit against the Fed in U.S. District Court for the District of Columbia, a lawsuit that was decided more or less in GATA's favor last year and revealed that the Fed has secret gold swap arrangements with foreign banks as well as many other gold-related records that are being kept secret: http://www.gata.org/node/9917 Responding to the L.A. Times story, Zero Hedge quickly explained why the Treasury's "audit" of the New York Fed's gold is a fraud. "What the 'conspiracy theorists' allege," Zero Hedge notes, "is that claims existing in paper format on the physical gold held under Liberty 33 are orders of magnitude greater than the actual physical gold these claims supposedly have recourse to": http://www.zerohedge.com/news/feds-gold-being-audited-us-treasury But the L.A. Times story does quote U.S. Rep. Ron Paul on that point and even mentions the movement in Germany to repatriate that nation's gold reserves from foreign vaults. And if the Treasury Department has felt compelled to commission exactly the wrong kind of audit to deflect rising concerns about gold issues, that's progress too. The L.A. Times story is appended. Keep on reading @ gata.org |
| Gold mobilization not to hit majority of Vietnamese : SBV Posted: 04 Aug 2012 08:57 AM PDT
from bullionstreet.com: HANOI(BullionStreet): Vietnam's central bank, the State Bank of Vietnam (SBV) said new regulations in gold mobilization will not have an impact to majority of country's citizens. According to a senior SBV official, majority of Vietnam's citizens in the countryside traditionally do not store gold in the banking system. However, the official said it may well impact the price they receive for their gold in both the official and underground gold market. Many Vietnamese have expressed concern that as SJC becomes the official brand of bullion it will be controlled like a currency. As the SBV will set the price each day, they fear the bullion will be put under further strict control, similar to currency controls. They also feared that when it comes to selling gold, many shops will only accept SJC bars, whilst those who will accept the gold will only accept non-SJC bars at significantly reduced prices. Keep on reading @ bullionstreet.com |
| Friday Chart Porn: Value Play Of The Decade Posted: 04 Aug 2012 08:50 AM PDT
from truthingold.blogspot.com: Before I get to the good stuff, I wanted to comment quickly on today's employment report released by the Government. As we all know by now, the NFP (non-farm payroll report) is one of the most highly politicized and statistically manipulated economic statistics on the planet. It's gotten to the point at which it's become absurd in extremis the degree to which so-called experts get in front of the public and discuss this report as if it has any meaning at all. In fact, the only meaning it represents to me is the outrageous degree to which the Government is willing to stretch the truth in an attempt to exert control over the public. Unfortunately, for the actual 20% of the population that is unemployed/under-employed, this monthly three-ring circus of Wall Street economists, CNBC and the Government has turned truly tragic. Now on to the good stuff…A long-time colleague of mine sent me this chart which shows the ratio of the XAU mining stock index to the price of gold going back to 1984. I have not seen anything like this in blogosphere or posted on the usual gold-bug aggregator websites. The XAU index is composed of 16 of the largest gold/silver mining stocks traded on the NYSE/Nasdaq. If you are interested, here's the list: LINK The ratio itself represents the value of the index in relation to the price of an ounce of gold. As you can see, despite the 11-year move in gold, which has taken gold from $250/oz to as high at $1900, the market value of mining stocks in general has declined in relation to the price of gold by extraordinary amount since its peak in 1996, when the price of gold averaged around $380/oz and silver around $4.80/oz. Does this make sense, especially given that the large mining companies have steadily increasing their dividend payout ratio and throwing off record amounts of cash flow? Either the market is pricing in the expectation of gold and silver selling off to the level where they started this bull market or the universe of mining stocks represents the value play of the decade. Barring some miracle bestowed upon us by some fantastically imagined divine intervention, the financial, economic and political problems faced by the world are going to continue to get worse. This would argue against a big drop in the price of gold/silver and in support of the value theme. Keep on reading @ truthingold.blogspot.com |
| Gold and Silver End Mixed on the Week Posted: 04 Aug 2012 08:47 AM PDT
from silverseek.com: The Metals: Gold climbed $11.03 to $1599.73 by a little after 8AM EST before it dropped back to $1586.90 immediately after the jobs report was released, but it then rallied back higher for most of the rest of trade and ended with a gain of 0.89%. Silver slumped down to $27.066 in early New York trade, but it then surged to as high as $27.883 and ended with a gain of 2.4%. Euro gold fell to about €1295, platinum gained $16.50 to $1400.50, and copper rose 7 cents to about $3.37. Gold and silver equities rose about 2% at the open and remained near that level for the rest of the day. Keep on reading @ silverseek.com |
| Sprott Physical Silver Trust offer underwriters take up additional units Posted: 04 Aug 2012 08:44 AM PDT
from mineweb.com: The recent fully subscribed $200 million offering of new units by the Sprott Physical Silver Trust has received an additional boost by the offer underwriters – Morgan Stanley and RBC Capital Markets – taking advantage of an option that enables them to buy additional units on their own accounts. The two underwriters have between them taken up1.8 million units, in addition to the 18.1 million units on offer at US$11.15 each, bringing the amount raised by the Trust to a little over $220 million. As previously noted here, Sprott plans to use the proceeds to purchase, and take delivery of physical silver to the value of the amount raised, which at current silver prices would amount to some 8 million plus ounces of physical metal. It should be recalled that when Sprott launched the Physical Silver Trust securing 15 million ounces for it took a full three months before delivery of the metal was received and, according to Sprott, some of the delivery had not even been mined when the order was put in. Keep on reading @ mineweb.com |
| Completely Fabricated Jobs Report/All bourses in the green/risk off trading Posted: 04 Aug 2012 08:38 AM PDT
from harveyorgan.blogspot.com: Good morning Ladies and Gentlemen: Gold closed up today by $19.30 to finish the comex session at $1606. Silver finished up by 81 cents to $27.79. Gold was immediately smashed on news that the USA had a good jobs number. However, with Europe solidly in the green and with Spanish and Italian 10 yr yields down, gold and silver took off along with the Dow.Europe decided on Friday, that maybe Draghi will get to orchestrate his ESM banking license. It never ceases to amaze me the total manipulation in these markets and the press just look the other way. The key events to watch for will be the 20th of August, when Greece is scheduled to repay 3.2 billion euros back to the ECB from the ESFS. No doubt the ESFS will lend the money to repay the ECB. They may decide to forgo this and immediately default and issue drachmas. If the money is forked over, The total gold comex OI fell by a rather large 1901 contracts from 396,778 to 394,877 as investors flee the this gold forum in droves. The front month of August saw its OI fall from 4447 to 3854 for a loss of 583 contracts. We had 547 contracts delivered upon on Thursday, so we lost 46 contracts or 4600 oz of gold standing. The Sept gold contract month saw a gain of 23 contracts, from 1329 to 1356. The Oct delivery month which is generally small in comparison to other months saw its OI rise 1090 contracts, from 27410 to 28,506. The estimated volume on Friday came in at 131,776 which is small. The confirmed volume on Thursday when the bankers orchestrated their big raid came in at 171,019. Keep on reading @ harveyorgan.blogspot.com |
| Turk – Gold Is In Backwardation & About To Rocket Higher Posted: 04 Aug 2012 08:32 AM PDT
from kingworldnews.com: Today James Turk told King World News that gold is now in backwardation and about to rocket higher. Turk also warned, "The bottom line is we are in a fiat currency bubble. Eventually this bubble is going to pop because we are using this fiat currency, backed by nothing, not just in one country, but throughout the world." Here is what Turk had to say: "This is exactly the kind of action I had been hoping for, Eric. When had the KWN blog interview on Wednesday, I had mentioned that we probably missed the last chance to buy gold at $1,580, and silver under $27." Keep on reading @ kingworldnews.com |
| Greyerz – The Risk Of Systemic Collapse Is Now Enormous Posted: 04 Aug 2012 08:28 AM PDT
from kingworldnews.com: Today Egon von Greyerz told King World News, "We've had Lehman, AIG, MF Global, PFG, the latest (trouble) is Knight Capital which lost $440 million overnight. This just shows that it's not safe for investors to keep their money in the system." Greyerz also spoke with KWN about some lofty targets for both gold and silver. Greyerz, who is founder and managing partner at Matterhorn Asset Management out of Switzerland, also said, "We are being warned that we should not keep the main part of our money there (in the financial system) because the risk that you will be totally wiped out is massive." Keep on reading @ kingworldnews.com |
| Posted: 04 Aug 2012 07:00 AM PDT SunshineProfits |
| Posted: 04 Aug 2012 05:50 AM PDT |
| Treasury Audits NY Fed's Gold But Only to Evade Leasing, Swapping, Oversubscription Issues Posted: 04 Aug 2012 05:45 AM PDT ¤ Yesterday in Gold and SilverThe gold price traded around the unchanged mark until the dollar index began to head south around 2:00 p.m. in Hong Kong on their Friday afternoon. From there, the gold price began a slow rise...but you could tell from the saw-tooth pattern that started very shortly after the gold price rally began, that it was being well contained...especially once London trading got underway at 8:00 a.m. BST...3:00 a.m. in New York. Then, about five minutes before the 8:20 a.m. Comex open, the gold price spiked above the $1,600 spot price level for a few seconds, but promptly got hammered flat the second that New York started to trade. The subsequent rally that began shortly before 8:45 a.m. also ran into some interference...and 90% of that rally was in by around 11:45 a.m...and the gold price more or less traded sideways to down a hair into the close of electronic trading at 5:15 p.m. in New York. The low price tick of the day [$1,584.80 spot] came moments before 8:45 a.m. Eastern...and the high tick of the day [$1,608.10 spot] came just before, or precisely at, the 1:30 p.m. Comex close. Gold finished at $1,603.60 spot...up $15.30 from Thursday's close. If the CME's volume figures are to be believed...and they had some real problems yesterday...net volume appeared to be around 141,000 contracts.
Silver was a slightly different animal than gold on Friday. The silver price traded sideways until the same 2:00 p.m. Hong Kong time as the dollar index decline began...but the rally caused by this decline was underwhelming. At its London peak, the silver price might have been up about 15 cents from its Thursday close in New York...and by gold's 8:45 a.m. New York low, the silver price was back to unchanged from Thursday's close. Then, like gold, the price blasted higher and, for the most part, the bulk of the rally was in by shortly after 10:00 a.m. in New York...and both small rally attempts after that got sold off. The high tick of the day [$28.06 spot] came at 1:15 p.m...fifteen minutes before the Comex close. From that high, the silver price got sold down about two bits...and silver finished the Friday trading session at $27.80 spot...up 67 cents from Thursday. Net volume was in the area of 38,000 contracts.
The dollar index opened at 83.32 in early Friday morning trading...and traded at that level until the decline began at 2:00 p.m. Hong Kong time. By noon in London the dollar was down about 60 basis points...and by 8:30 a.m. in New York, ninety minutes later, the index had gained back a bit over 35 basis points of that decline. From that point, the dollar index really got sold off...probably on the jobs numbers...and by 12 o'clock noon, the index had dropped just under 80 basis points to it 82.29 low price tick of the day...and closed only a hair off that low at 82.375. The dollar index lost 95 basis points on Friday. I have a lot of trouble reconciling the dollar index and the gold chart in the five hours between 7 and 12 noon in New York. Not that I want to beat this horse to death, but it was obvious [at least to me] that a not-for-profit seller was hard at work in all four precious metals during the New York trading session.
The gold stocks gapped up about 2 percent at the open...and then more or less traded sideways until half an hour before the equity markets closed. Then, for the third day in a row, a serious not-for-profit seller showed up during this last thirty minutes of trading...and half of the earlier gains in the stocks vanished in just a few minutes. Then a big buy order showed up in the last five minutes, which saved the stocks from an unhappy fate. The HUI finished up 1.76% on the day.
The silver stocks were a very mixed bag...and Nick Laird's Silver Sentiment Index finished up 1.35%.
(Click on image to enlarge) The CME's Daily Delivery Report was a bit of a surprise, as only 18 gold and zero silver contracts were posted for delivery. The GLD ETF reported that an authorized participant added 96,996 troy ounces of gold yesterday...and there were no reported changed in SLV. It's becoming increasingly obvious that the big Wednesday and Thursday smash down in all the precious metals was paper trading on the Comex...and had nothing to do with real world supply and demand. There was no sales report from the U.S. Mint. Thursday was a pretty busy day over at the Comex-approved depositories, as they reported receiving 1,046,857 troy ounces of silver...and shipped 501,390 troy ounces of the stuff out the door. The link to that activity is here. Well, the Commitment of Traders Report was a depressing read...as both Ted Butler and I were shocked at the deterioration during the reporting week that ended on Tuesday at 1:30 p.m. Eastern time. The Commercial net short position in silver blew out by an eye-watering 5,907 contracts, or 29.5 million ounces of silver. The Commercial net short position is now 106.8 million ounces. Reader 'EF' reported to me that "The silver raptors sold 4,178 net contracts, but they're still net long 19,444 contracts"...and Ted Butler was unhappy about the fact that the 'big 4' traders added to their short positions as well. I wasn't amused, either. As of Tuesday's cut-off, the '1 through 4' largest short holders [totally dominated by JPMorgan] were short 165.7 million ounces of silver...and the '5 through 8' largest short holders were short an additional 38.3 million ounces. The 8 largest traders on the short side are short 204.0 million ounces of silver. On a net basis, these eight traders are short 39.4% of the entire Comex futures market in silver. That's obscene! In gold, the Commercial net short position increased by a huge 1.98 million ounces...and currently sits at 15.6 million ounces. Reader 'EF' commented that..."Ted's Raptors were the big movers in gold. They sold 19,124 net contracts during the reporting week, going from 8,337 contracts net long to 10,787 contracts net short." Ted mentioned that the 'big 4' traders were hardly active at all during the reporting week. The '1 through 4' largest short holders in Comex gold futures are currently short 9.92 million ounces...and the '5 through 8' largest short holders are short an additional 4.60 million ounces. These eight traders are currently short 38.1% of the entire Comex futures market in gold...once all the market-neutral spread trades are subtracted out of the Non-Commercial category. As Ted Butler pointed out yesterday, if the big bullion banks and the raptors hadn't done their thing during the reporting week just past, silver and gold prices would have been materially higher. I'm guessing five to ten dollars higher in silver...and gold would have been hundreds of dollar higher. This is the paper market controlling the physical market...and it's flat out illegal. Here's Nick Laird's "Transparent Precious Metal Holdings" chart...and as you can see, it continue to climb from lower left to upper right no matter what is going on with PM prices.
(Click on image to enlarge) I'm happy to say that I don't have that many stories for you this weekend. I was taken aback by the ferocity of the attack by JPMorgan and the raptors that stopped the PM rallies dead in their tracks during the reporting week. Sprott Physical Silver Trust offer underwriters take up additional units. Gold to Rally Above $1,900 by End 2012: HSBC. James Turk: Gold is in Backwardation and About to Rocket Higher. ¤ Critical ReadsSubscribeUnemployment rises, hundreds of thousands quit lookingThe U.S. economy added 163,000 jobs in July. Although an improvement over the first quarter, the ranks of the unemployed swelled another 45,000. The unemployment rate rose to 8.3 percent even as 348,000 workers quit looking for work and were no longer counted in the official jobless tally. In the weakest recovery since the Great Depression, nearly the entire reduction in unemployment since October 2009 has been accomplished through a significant drop in the percentage of adults participating in the labor force -- either working or looking for work. Without doubt, the real unemployment numbers are much worse than reported here...once they were run through the BLS b.s. machine. This UPI story from yesterday was sent to me by Roy Stephens...and the link is here.  Full-Time Jobs -228,000; Part-Time Jobs +31,000Of course, these unemployment numbers looked a lot different in a posting over at Zero Hedge yesterday. We got the pre-spun job quantity data already, where we learned that nearly 3 times the headline print was due to seasonal and B/D adjustments and is thus nothing but noise. Now we get the quality. As can be seen from the chart below, in July the number of part-time jobs added was 31,000, bringing the total to 27,925, just shy of the all time record of 28,038. Full time jobs? Down 228,000 to 114,345,000 lower than the February full-time jobs print of 114,408,000. Once again, more and more Americans are relinquishing any and all benefits associated with Full Time Jobs benefits, and instead are agreeing on a job. Any job. I thank U.K. reader Tariq Khan for sending this Z.H. story this along...and the link is here.  Zero Return World Squeezes Retirement PlansWorkers can kiss their retirement plans goodbye unless they take more risk to keep nest-eggs growing in a world where playing safe can be even more costly. Four years of near-zero official interest rates and successive market panics have driven the returns from low-risk German, British or U.S. government bonds on which pension funds traditionally rely to record lows. That may yet rescue the global economy by supporting borrowing and growth, but it is very bad news for several generations of workers already set to retire later — and for longer — than their predecessors. Without returns that outstrip inflation — still running at around 2 percent in much of Europe — they face the real value of their savings declining rather than ratcheting up over the next few years. This Reuters piece was posted on the CNBC Internet site late yesterday morning...and I thank West Virginia reader Elliot Simon for sending it. The link is here.  Errant Trades Reveal a Risk Few ExpectedThe trading firm Knight Capital recently rushed to develop a computer program so it could take advantage of a new Wall Street venue for trading stocks. But the firm ran up against its deadline and failed to fully work out the kinks in its system, according to people briefed on the matter. In its debut Wednesday, the software went awry, swamping the stock market with errant trades and putting Knight's future in jeopardy. The fiasco, the third stock trading debacle in the last five months, revived calls for bolder changes to a computer-driven market that has been hobbled by its own complexity and speed. Among the proposals that gained momentum were stringent testing of computer trading programs and a transaction tax that could reduce trading. This story was posted on The New York Times website late Thursday evening...and it's courtesy of Roy Stephens. The link is here.  Doug Noland: Think Grand CanyonThings get wackier by the week. My proposition has been that once a Credit crisis comes to afflict the "core" (gravitating from the "periphery") the deleterious consequences tend to be irreversible. As such, with Spain now engulfed in full-fledged financial, economic, political and social crisis, the overall European debt crisis has turned interminable. Of course, desperate politicians and central bankers promise to do whatever it takes to finally resolve the crisis. "Pointless to short the euro," Mr. Draghi warned yesterday. Their determination is surely intensified by the fact that they are fighting for the very survival of euro monetary integration. Policymakers and market participants alike appreciate what's at stake. With global risk markets these days enveloped in an extraordinary "risk on, risk off" speculative melee, the historic battle to "save" the euro has come to dictate global trading dynamics. The European crisis is taking an increasing toll on the global economy, though the incredible measures to combat the bursting of the European Credit Bubble fuel an escalating speculative Bubble throughout global risk markets. This Friday's Credit Bubble Bulletin is another must read. It's certainly on the longish side, but it's worth it. I've been reading Doug's commentaries for over a decade...and nobody understands the big credit/financial picture better than Mr. Noland. I thank reader U.D for sharing it with us. It was posted on the prudentbear.com website yesterday evening...and the link is here.  The World from Berlin: 'Vengeance for ECB Bond-Buying Will Be Bitter'The markets were disappointed. European Central Bank head Mario Draghi's press conference on Thursday sent stock indexes around the world plummeting, as investors had been hoping the bank would immediately resume buying up sovereign bonds from crisis-stricken euro-zone countries. Even worse, Spain's borrowing costs on 10-year bonds rocketed above the critical 7 percent mark -- a product of Draghi's press-conference pledge that the ECB would only step in if a country applies for a euro-zone bailout. Many politicians in Germany, however, were ecstatic. Leaders from most of the country's major parties welcomed Draghi's inaction, including lawmakers from parties in Chancellor Angela Merkel's governing coalition. "I completely agree with ECB President Mario Draghi that decisive consolidation and reform policies at the national level should be the absolute top priority and are indispensable," said Economy Minister Phillip Rösler. The leader of Merkel's junior coalition partner, the Free Democratic Party (FDP), Rösler is also deputy chancellor. He added that monetary policy cannot replace national efforts and "does not offer a lasting solution to the crisis." This story was posted over on the German Internet site spiegel.de yesterday...and I thank Manitoba reader Ulrike Marx for bringing it to our attention. The link is here.  Ratings Downgrade Slovenia Becomes Europe's Latest WorryFive European Union member states have already sought bailout aid from the euro rescue fund. Is Slovenia about to become the sixth? Late Thursday evening, the US ratings agency Moody's downgraded the country's government bonds by three levels, shifting its previous A2 down to a Baa2, and threatened a further reduction in the future. The agency also changed Slovenia's economic outlook to "negative." The small eas |
| Gold to Rally Above $1,900 by End 2012: HSBC Posted: 04 Aug 2012 05:45 AM PDT  Gold could be one of the few assets to profit from the political and economic turbulence in the United States as the "fiscal cliff" approaches, potentially creating a rally in the precious metal later in 2012 for it to reach $1,900 per ounce by the end of the year, analysts at HSBC said. "Economic uncertainty, geopolitical tensions and the uncertainty of the U.S. November elections are theoretically gold-bullish," and gold should perform better later in the year "when U.S. growth is poor and the dollar is weak," a new HSBC report said. "We expect prices to rally to above $1,900/oz by the end of the year. Patience is the most important commodity." |
| Four King World News Blogs/Audio Interviews Posted: 04 Aug 2012 05:45 AM PDT  The first is with Egon von Greyerz...and it's headlined "The Risk Of Systemic Collapse Is Now Enormous". |
| SilverFuturist: Silver will resume it's uptrend when… Posted: 04 Aug 2012 05:20 AM PDT |
| Silver Update: FTT Kills HFT – 8.3.12 Posted: 04 Aug 2012 05:17 AM PDT brotherjohnf: Silver Update 8/03/12 FTT Kills HFT ~TVR |
| 5 Companies Trading At A Forward P/E <5 With Recent Insider Buying - Part III Posted: 04 Aug 2012 04:55 AM PDT By Markus Aarnio: I screened with Finviz for companies that trade with a forward P/E of less than 5 and checked if the companies had any insider buys during the last three months. I wrote the part I of "5 Companies Trading At A Forward P/E <5 With Recent Insider Buying" on July 31st and part II on August 3rd. Here are five additional companies that I found: 1. Golden Star Resources (GSS) holds the largest land package in one of the world's largest and most prolific gold producing regions. The company holds a 90% equity interest in Golden Star (Bogoso/Prestea) Limited and Golden Star (Wassa) Limited, which respectively own the Bogoso/Prestea and Wassa/HBB open-pit gold mines in Ghana, West Africa Complete Story » |
| What Is The Best Approach For “Little Folks”? Posted: 04 Aug 2012 03:38 AM PDT We contend that you just ignore as much of the mayhem as you can and take the high road to pick -over the carcass of these markets in a search of legal profits. Here are some simple suggestions that we think can work, and have been working for us, and our readers. 1- Get out of debt and stay out of debt. 2- Find an income that can withstand a prolonged depression. Think: daily needs fulfilled. 3- Stay out of stocks unless you know what you are doing and have an emergency exit strategy. 4- Do not use a bank safety deposit box. Now there is real oxymoron if we've ever heard one! 5- Hold 3 months cash in small bills in the house (not in the bank) for emergencies. 6- Buy gold and silver US or Canadian coins held/hidden at home for capital preservation. 7- Keep medical and dental needs up to date for self and family. 8- If you have life-saving prescriptions needs, get the doctor and druggist to provide at least a90-day supply or longer. 9- In your home, store 3-6 months of food and water for family and pets. Rotate for freshness. 10- Have a generator for emergency use in a power failure. 11- Keep gas tanks full for your vehicles. Some are opting to have bikes and motorcycles handy as alternatives. 12- Tighten security around your travels, vehicles and home. No showing-off fancy stuff to incite criminals. 13- In general, stay under the radar and try to be as inconspicuous as possible in outward appearances. 14- We think small towns but not very remote homes and farms are better than big cities. The ability to walk to everything in a small town has merit. Make new friends there. For Investors And Traders. Get out of and stay out of all bonds of any kind. While some funds are fine, we prefer hard assets and a trading account. Find out who is running your accounts and where the money is. Be very careful here as more financial companies will bite the dust. We see new fear of currency funds as they have investments in Europe, too. We strongly dislike emerging nations' investments, and most anything in Asia, or Europe. Own a business providing products/services consumers MUST HAVE EACH AND EVERY DAY. One of our readers bought a small town hardware store (not for sales or to make money, but to own the inventory for trading). Also, his hidey-hole is an upstairs apartment. Investors and traders are going to have to move toward faster investing and trading. Enter ideas with a firm exit strategy. If you can use stops for automatic exits (either long or short), that's a good idea. One of our top contacts in Florida trades large and told us she has to trade more often and take smaller bites of the apple. She is a top S&P trader with daily open positions of $500,000+ using futures. Her research, which is run by three smart, top-dog women assistants, is legendary. Stay with a smaller number of trades and markets. Buffet says: more diversification equals more ways to lose money. Make a small basket and watch the basket like a hawk. Owning positions in Canada is a good thing as Canadian banks are in better shape. The Canadian dollar should hold up better than the US dollar, over time. Oil shares and oil trading will be an adventure. Those that are quick can make money. Most in this sector can get hurt with skimpy knowledge. Be careful. If you have larger accounts it might be wise to pay cash for someplace where you can live. For a long time, we liked renting but with so many markets that have seemingly hit bottom and stopped selling, how low is low? A smaller owned property-home (not leased), can have merit as you are owning a hard asset that cannot dissipate over time. Do not expect to make money using a home as a piggy bank and do not borrow against it when it's paid-off. As much as possible, keep real estate taxes paid in advance and insurance up to date. I think $250,000 in a good paid-for house is now a better option than $250,000 in a mutual fund. If you own precious metals shares be sure the company has 2-3 year's operating cash and a senior operating miner next door to take them out when they prove-up good reserves. Leased farm land is good to own for income for several more years in the right locations. In summary, the 3rd quarter of 2012 will be a set-up quarter for those traders and investors moving toward positions that can profit from all this forthcoming excitement arriving in the 4th quarter. We strongly suggest that if you are not experienced in managing big, faster moving markets' messes, it might be easier to go and buy physical gold and silver and take possession. This way you can eliminate any counter party risk and if you need some cash later on, the metal brokers are more then happy to buy it back and very quickly, too. This trade is safer and most liquid. Most of our readers of these essays and in our Trader Tracks Newsletter are primarily stock traders and investors. At this juncture they are wondering and worrying as to when markets will return to new rallies, pulling-up their beaten down stock positions. The precious metals stocks (the best of the best) will begin to react almost immediately when gold and silver begin new rallies. However, most of them usually take 2-4 weeks longer in a precious metals reaction before any substantial shares movement. Follow monthly charts first and discover the best time of year for your favorite markets. Then, work backwards using weekly charts followed by dailies. For the most part, we have learned that swing trading (a few days to a few weeks) is easier to manage for us. However, some traders enjoy the scalping game doing 150 trades each day finishing the session and then going home flat overnight. Find what suits you best and above all control risk first. The balance of your earnings will often take care of them selves. –Traderrog   This posting includes an audio/video/photo media file: Download Now |
| Links for 2012-08-03 [del.icio.us] Posted: 04 Aug 2012 12:00 AM PDT
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| Draghi Disappoints and the IMF Warns About the US Fiscal Cliff Posted: 03 Aug 2012 11:36 PM PDT gold.ie |
| Gold and Silver Regaining Footing As Treasuries Make Bearish Reversal Posted: 03 Aug 2012 11:31 PM PDT |
| The Impending Collapse of American Medicine Posted: 03 Aug 2012 10:06 PM PDT LewRockwell |
| The Second Greatest Story Ever Told Posted: 03 Aug 2012 10:00 PM PDT Gold University |
| Pirate Banking: $21 to $32 Trillion in Estimated Tax Haven Money, Managed by Big Global Banks Posted: 03 Aug 2012 09:15 PM PDT An interview on Real News Network with James Henry of the Tax Justice Network covers his newly released report "The Price of Offshore Revisited" in which he estimates the size of the "offshore" market as somewhere between $21 and $32 trillion as of December 2010. Note that this total includes only financial assets, and thus omits real assets (real estate, gold, artwork, yachts) that are held via trusts or corporate entities in tax havens. If you are in finance, the broad outlines of this story are familiar. Much of "private banking", particularly the Swiss variety, is to serve as a bolthole for money that the wealthy are trying to keep out of the hands of the taxman (or have looted from their country's treasury). Henry estimates that 90% the total funds in "offshore" accounts is not reported to tax authorities. But US firms have become fierce competitors in this business. In the 1980s, Citibank became a major player in the Latin American market. And the current ranking of private banking operations puts Goldman as number three, behind UBS and Credit Suisse. And the results are perverse. Developing countries, which in theory should be the targets for investments by advanced economies, are instead often capital exporters as the wealthiest locals move their funds into tax havens. Henry points out that while the US has started trying to crack down on the Swiss, it's refused to help in making US banks engage in similar reporting to countries that, like the US, tax their citizens on global income. And that's because, as Nicholas Shaxson discussed in his book Treasure Island, the US is now the leader in "offshore," having displaced the UK. The underlying report is very readable and also highlights how little has been done to shed light on this topic. It's not hard to imagine why.
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| By the Numbers for the Week Ending August 3 Posted: 03 Aug 2012 08:45 PM PDT This week's closing table is just below.
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