Gold World News Flash |
- Gold COT
- We Are Staring At Economic Destruction & Soaring Inflation
- It's Becoming Clear That No One Actually Read Facebook's IPO Prospectus Or Mark Zuckerberg's Letter To Shareholders
- Who's Behind Crop Circles? The Geometry & Complexity Suggest Far More Than Meets the Eye
- SA mine unrest widens, contagion fears rise
- Fed's Williams backs open-ended QE3, eyes $600 billion
- Fractal Gold Review and Update
- Jim's Mailbox
- Fractal Silver Update: 08-31-12
- Eric Sprott among GATA favorites to address Silver Summit in October
- Bernanke Speech at Jackson Hole 2012
- Levity, sort of - Dennis Miller on Jay Leno
- The Crunch: “It’s Going to Happen In the Next Administration; Regardless of Who Wins This Election”
- By the Numbers for the Week Ending August 31
- For Silver, New World Order is Old World Order
- Next stop: $2,200 – $2,400
- This Past Week in Gold
- Gold Is Money Interview
- Bernanke Fails To Move Gold Market Lower
- Invstors Should Read Lenin to Understand the Markets
- Why Gold Doesn't Need the Fed
- Quanticipation in the Gold Price
- Gold and Silver: Breakout Time, Not Bubble Time
- Gold and Silver Bullion Coin Sales Jump 25% In August, San Francisco Silver Eagle Set Sold Out
| Posted: 02 Sep 2012 12:45 AM PDT
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| We Are Staring At Economic Destruction & Soaring Inflation Posted: 01 Sep 2012 09:30 PM PDT from KingWorldNews:
Pento also let investors know how to protect themselves in the coming chaos. Here is Pento's piece: "Central banks will do something in September that causes fiat currencies to be flushed down the toilet. It will mark the beginning of the end for money that is not backed by precious metals. The events will be a desperate and final attempt to save faltering global GDP, but it will only lead to further economic destruction and intractable inflation." "The excuse being given for the upcoming assault on fiat money is the crumbling economies in Europe, which have taken down emerging markets economies as well. For example, China's exports to the EU (17) dropped 16.2% in July, as sales to Italy plunged 26.6% from a year earlier. Michael Pento continues @ KingWorldNews.com
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| Posted: 01 Sep 2012 09:00 PM PDT by Henry Blodget, BusinessInsider:
Four months ago, you will recall, Facebook was viewed as "the next Google." Now, with no major change in the fundamentals, it's viewed as an over-hyped disaster. Meanwhile, there is ever-louder grumbling that 26-year-old Facebook CEO Mark Zuckerberg is in over his head and should be relieved of command. As I listen to all this whining, I have a simple question: Didn't anyone even read Facebook's IPO prospectus? The answer, I can only assume, is "no." Because if anyone had read the Facebook IPO prospectus, they would have learned, among other things, the following: Facebook's growth rate was decelerating rapidly. Read More @ BusinessInsider.com
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| Who's Behind Crop Circles? The Geometry & Complexity Suggest Far More Than Meets the Eye Posted: 01 Sep 2012 07:39 PM PDT It's Labor Day weekend. The world's economic affairs remain on shaky ground. Many of us welcome the coming collapse as the inevitable step toward a new, unified future in which we've thrown off the Banksters so humanity can finally live in peace. If you've followed the work of Linda Moulton Howe at Earthfiles, you know the crop circle mystery is real, and despite mainstream media claims to the contrary, remains completely unsolved. Here's some Saturday night fun food for thought.
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| SA mine unrest widens, contagion fears rise Posted: 01 Sep 2012 07:37 PM PDT About a quarter of Gold Fields' 46,000 workforce have been on a wildcat strike since Wednesday evening in the latest labour unrest in of Africa's leading economy. by David Dolan and Ed Stoddard, MineWeb.com
The strike at the world's No.4 gold producer follows a deadly stand-off at platinum miner Lonmin Plc which is still not resolved after three weeks. Gold Fields said in a statement on Friday that about 12,000 workers had been on an "unlawful and unprotected" strike at the east section of its KDC mine in South Africa. "Based on informal feedback from employees, the strike appears to be related mainly to disagreements within organised labour and related structures on the mine, although we cannot confirm this," it said. Gold Fields and South Africa's other big gold miners signed 2-year wage agreements last year which expire in mid-2013.
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| Fed's Williams backs open-ended QE3, eyes $600 billion Posted: 01 Sep 2012 07:23 PM PDT from Reuters:
San Francisco Federal Reserve Bank President John Williams said on CNBC television the Fed's two quantitative easing programs have had benefits and argued the central bank should be moving toward an "open-ended" QE3 that would not be limited by a dollar value. "Additional monetary accommodation would be very useful to boost the economy, speed the recovery along somewhat, and help get unemployment moving toward its full employment goal over the next few years," Williams, a voter this year on Fed policy, said from a central bankers' conference in Jackson Hole, Wyoming. "I am concerned that we could be stalling at the current high level of unemployment." In a separate interview with Bloomberg TV, Williams said he would argue for a series of purchases that would eventually rival the $600 billion size of the Fed's second round of bond purchases.
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| Fractal Gold Review and Update Posted: 01 Sep 2012 07:15 PM PDT The Fractal Gold chart work is a direct comparison of Gold, today, to the late 70's Gold Parabola. Thus, "timing" is taken directly from the late 70's cycle, with price targets created from a combination of the late 70's Gold price and ... Read More...
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| Posted: 01 Sep 2012 06:52 PM PDT Dear Jim, I have to agree with you that gold is being groomed for an important role post crisis in the monetary system. The following can be reviewed in whole at the below URL. Regards, CIGA JB Slear Precious Metals Delivery Man DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency 12 Continue reading Jim's Mailbox
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| Fractal Silver Update: 08-31-12 Posted: 01 Sep 2012 06:38 PM PDT The Fractal Silver Chart from the late 70's is a bit different than today, mostly due to the effect that the deflationary psychology of the current period has had on Silver as a partly "economic metal." This means that the ... Read More...
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| Eric Sprott among GATA favorites to address Silver Summit in October Posted: 01 Sep 2012 06:30 PM PDT by Chris Powell, Secretary/Treasurer, GATA, GATA:
Dear Friend of GATA and Gold: The 10th annual Silver Summit will be held Thursday and Friday, October 25 and 26, at the Davenport Hotel in Spokane, Washington, and will feature presentations by GATA favorites Eric Sprott of Sprott Asset Management, Peter Spina of GoldSeek and SilverSeek, Al Korelin of the Korelin Economic Report, David Morgan of The Morgan Report, Bix Weir of the Road to Roota newsletter, Roger Weigand of the Trader Tracks newsletter, Ron Hera of Hera Research, and CPM Group Managing Director Jeff Christian. Many silver mining companies will be exhibiting. Cambridge House International's annual Silver Summit celebrates its tenth year Oct. 25 and 26 at the historic Davenport Hotel in Spokane, Washington, with a cavalcade of experts in all things silver and a thousand silver aficionados. "The junior sector in the resource industry, which was just plain hammered in the 2008 market debacle, is making a comeback. So is silver," says Joe Martin, president of Cambridge House. "It's on the long end of the slingshot. You'd be just plain crazy not to investigate the silver sector of this market, and the Silver Summit is the place to do it."
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| Bernanke Speech at Jackson Hole 2012 Posted: 01 Sep 2012 03:21 PM PDT Just below is Dr. Ben S. Bernanke's concluding remarks from the August 31, 2012 speech at the Federal Reserve Bank of Kansas City Economic Symposium, Jackson Hole, Wyoming. Following these remarks is a link to the entire speech. It is always helpful, we think, to read the actual words before forming an opinion about them. Early in my tenure as a member of the Board of Governors, I gave a speech that considered options for monetary policy when the short-term policy interest rate is close to its effective lower bound. (31) I was reacting to common assertions at the time that monetary policymakers would be "out of ammunition" as the federal funds rate came closer to zero. I argued that, to the contrary, policy could still be effective near the lower bound. Now, with several years of experience with nontraditional policies both in the United States and in other advanced economies, we know more about how such policies work. It seems clear, based on this experience, that such policies can be effective, and that, in their absence, the 2007-09 recession would have been deeper and the current recovery would have been slower than has actually occurred. As I have discussed today, it is also true that nontraditional policies are relatively more difficult to apply, at least given the present state of our knowledge. Estimates of the effects of nontraditional policies on economic activity and inflation are uncertain, and the use of nontraditional policies involves costs beyond those generally associated with more-standard policies. Consequently, the bar for the use of nontraditional policies is higher than for traditional policies. In addition, in the present context, nontraditional policies share the limitations of monetary policy more generally: Monetary policy cannot achieve by itself what a broader and more balanced set of economic policies might achieve; in particular, it cannot neutralize the fiscal and financial risks that the country faces. It certainly cannot fine-tune economic outcomes. As we assess the benefits and costs of alternative policy approaches, though, we must not lose sight of the daunting economic challenges that confront our nation. The stagnation of the labor market in particular is a grave concern not only because of the enormous suffering and waste of human talent it entails, but also because persistently high levels of unemployment will wreak structural damage on our economy that could last for many years. Over the past five years, the Federal Reserve has acted to support economic growth and foster job creation, and it is important to achieve further progress, particularly in the labor market. Taking due account of the uncertainties and limits of its policy tools, the Federal Reserve will provide additional policy accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability. The above is just the conclusion of a longer document. The entire speech, with footnotes, is at the link below.
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| Levity, sort of - Dennis Miller on Jay Leno Posted: 01 Sep 2012 03:07 PM PDT Dennis Miller on a recent Jay Leno show. Mr. Miller "gets it." We're not so sure about Mr. Leno.
Source: NBC. If the video above is not visible on your system or mobile device, follow the link below. http://www.nbc.com/the-tonight-show/video/dennis-miller-part-2-82712/1414926/ Comment: We long ago quit watching The Tonight Show, but this clip is making the rounds.
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| The Crunch: “It’s Going to Happen In the Next Administration; Regardless of Who Wins This Election” Posted: 01 Sep 2012 03:04 PM PDT  Our incumbent President says that things are getting better, jobs are being created, and America is on the road to recovery. His opponent, Governor Mitt Romney, says the opposite, but claims he has a plan that will turn things around and bring prosperity back.According to free market proponent Peter Schiff, it doesn't matter who wins, because the crunch is coming – and it's going to become apparent during the next President's administration. He [Mitt Romney] is not going to prevent the crisis. We're headed for a real economic collapse regardless of who wins this election. The government has over-promised. There are gigantic Ponzi schemes. They do not work. Meanwhile, the only reason the economy has not collapsed is because interest rates are artificially low. the Fed cannot keep interest rates low indefinitely, and when interest rates go up the party is over. And then we're not going to have a choice anymore. We're going to have to finally deal with these problems or destroy our currency, and that is a real economic crisis that is going to make 2008 look like a walk in the park. [The crunch] is going to happen in the next administration. We can't fix these problems by repealing Obamacare and cutting taxes. We have structural problems that underline the U.S. economy that are very deep that require real free market reforms, and unfortunately none of the major candidates are even talking about that right now. Read more..... 
This posting includes an audio/video/photo media file: Download Now |
| By the Numbers for the Week Ending August 31 Posted: 01 Sep 2012 12:09 PM PDT This week's closing table is just below.
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| For Silver, New World Order is Old World Order Posted: 01 Sep 2012 11:36 AM PDT Silver has been in a bear market for 600 years. "Scenes are now to take place as will open the eyes of credulity and of insanity itself, to the dangers of a paper medium abandoned to the discretion of avarice … Continue reading
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| Next stop: $2,200 – $2,400 Posted: 01 Sep 2012 10:12 AM PDT Get Ready for Take Off! The move of Gold above $2,000 will vault Silver over $50 – a level it has not been able to breach and hold – ever. As Gold sprinted past it's all time high of $800 … Continue reading
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| Posted: 01 Sep 2012 09:05 AM PDT Summary: Long term - on major sell signal. Short term - on buy signals. Gold sector ETFs are tradable but not holding for the long term until we have a major buy signal again. Read More...
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| Posted: 01 Sep 2012 09:05 AM PDT Below I discuss the problems in our banking system with GoldMoney's Alasdair Macleo, stating that the current zero-interest rate policy being pursued by the Federal Reserve (often referred to as "ZIRP") is masking problems with banks, but not solving them. I point out the basic truth that money-lending institutions make money off of interest, and that as long as rates remain artificially suppressed, this will constrain lenders' profits. This is an issue all over the world — something that makes investing in this sector tricky. We argue that the European situation is particularly fraught, on account of their being "too many chiefs and not enough Indians...
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| Bernanke Fails To Move Gold Market Lower Posted: 01 Sep 2012 05:22 AM PDT By Jeff Nielson | Silver Gold Bull Following the solid gains in the price of gold last week and the much more explosive rise in the price of silver, all expectations (even among normally bearish commentators) were that bullion prices would continue rising this week. That all changed Monday morning, however. At that point the Corporate Media released [...] 
This posting includes an audio/video/photo media file: Download Now |
| Invstors Should Read Lenin to Understand the Markets Posted: 01 Sep 2012 02:30 AM PDT China and India have always been crazy for gold and the yellow metal remains the choice store of value in those two countries, says Don Coxe, a strategic advisor to the BMO Financial Group. In an exclusive interview with The Gold Report, Coxe explains how demographic shifts are affecting the price of gold and delves into the logic of investing in gold as a long-term strategy. Coxe also draws an important lesson in economics from his reading of Lenin.
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| Posted: 01 Sep 2012 02:28 AM PDT Gold was a star performer during the month of August, outshining other assets in an impressive rally which took many investors by surprise. Many analysts attributed gold's strength to investors' expectations of another monetary rescue operation from the Federal Reserve. But as we'll see in this commentary, such an action is not only unlikely but unnecessary to gold's continued strength.
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| Quanticipation in the Gold Price Posted: 01 Sep 2012 02:27 AM PDT Will he, won't he? Either way, gold says more QE is coming in due course regardless... SO HERE'S a turn-up for the gold price. Today saw gold priced in Dollars – and everything else – rising after disappointment over new quantitative easing from the US Federal Reserve.
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| Gold and Silver: Breakout Time, Not Bubble Time Posted: 01 Sep 2012 02:24 AM PDT The Chinese ideograph for crisis is represented by the sign for danger joined together with the symbol for opportunity.
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| Gold and Silver Bullion Coin Sales Jump 25% In August, San Francisco Silver Eagle Set Sold Out Posted: 01 Sep 2012 12:24 AM PDT The latest sales figures from the U.S. Mint for August show a significant increase in sales of both gold and silver bullion coins. Sales of gold bullion coins during 2012 have varied dramatically from month to month with a high of 127,000 ounces in January to a low of only 20,000 ounces in April. Monthly [...]
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Today Michael Pento writes exclusively for King World News to put readers ahead of the curve on what is happening with central planners. Pento warned, "The European Central Bank and Federal Reserve are both about to announce, this very month, an incredible assault on the Euro and the dollar." Pento also cautioned, "… this is just the beginning of rising unemployment and soaring inflation."
As Facebook's stock continues to collapse, the volume of whining is increasing.
South African bullion miner Gold Fields said about a quarter of its 46,000 workers had been on a wildcat strike since Wednesday evening in the latest labour unrest to hit the mining industry of Africa's top economy.
More easing from the Federal Reserve would help boost the U.S. economic recovery and keep the labor market from stalling out, a top central bank policymaker said as he called for a round of bond purchases that could eventually top $600 billion.
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