Gold World News Flash |
- GoldSeek.com Radio: Steve Forbes, Dr. Marc Faber, David Morgan, and your host Chris Waltzek (ENCORE SHOW)
- Gold Market Update
- Are the Central Bank Vaults Empty?
- What would the market for gold and silver look like if we were approaching the top?
- Will the Parti Québécois Alter Québec's Mine-Friendly Policies?
- Much Ado About Nothing
- Silver Wheaton Closes Deal With Hudbay To Ensure It Has A Robust Pipeline
- Gold...Technical Update of ...
- THe WoRLD iS FIAT...
- Gold and Silver
- The Largest Economy In The World Is Imploding Right In Front Of Our Eyes
- The SCO, China, Iran, and Gold
- Cartel Extends PM Raid on Monday Asian Open
- Guest Post: What's Wrong With the Silver Market?
- As World Awaits Venezuela Presidential Results, Tanks Enter Caracas
- Sky-high gas prices in California reveal energy infrastructure ripe for sudden collapse
- Guest Post: America’s Hijackers – Where Are They Now?
- Paris Luxury Apartment Prices Slide As French "1%"ers Dump Real Estate To Avoid Soaring Taxes
- Silver Market Update
- Potential sharp moves in gold & silver prices. Which direction?
- Alasdair Macleod: The Shanghai group, China, Iran, and gold
- Norcini, Maund see gold futures set up for a smash down
- Latest GoldMoney article
- Monday Holiday Note for October 8
- More Stunning Developments In The Gold & Silver Markets
- In The News Today
- Strategic Outlook in Summary
- Financial Warfare: Destabilizing Iran’s Monetary System
- Financial Repression: Invisible Taxation, Surprise Inflation and Gold Confiscation?
| Posted: 08 Oct 2012 09:00 AM PDT Guest Biographies: Dr. Marc Faber GloomBoomDoom.com Steve Forbes How Capital Will Save Us & Forbes.com David Morgon Silver-investor.com
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| Posted: 08 Oct 2012 06:50 AM PDT It has been widely assumed across the markets that the forces of deflation have been vanquished by the Fed's making it plain a couple of weeks ago that it is going to throw all of its firepower into the battle to defeat it. So let's make this as clear as possible – the forces of deflation will not be defeated by anything until they done their work of expunging the massive overhang of debt from the system. The Fed's latest stated policy is merely a display of desperation and a symptom of intellectual bankruptcy in that they seem to think that more of what created the problems in the first place is now going to somehow fix them.
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| Are the Central Bank Vaults Empty? Posted: 08 Oct 2012 06:39 AM PDT Is it possible that the vaults of the world's central banks, believed to be stacked with gold bullion, are really empty? Is all the gold actually there? Something about the numbers doesn't seem to add up. The importance of the question accelerates in the face of global money-printing, which is also accelerating. Since the start of the economic meltdown five years ago, the balance sheets of the world's central banks have been growing at a frantic pace.
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| What would the market for gold and silver look like if we were approaching the top? Posted: 08 Oct 2012 06:36 AM PDT What would the market for precious metals look like if we were approaching the top of this decade-long bull market? You would almost certainly see a price spike of some significance, say a doubling of prices in 12 months. Have we seen anything like that? The surge in silver to almost $50 an ounce some 18 months ago is the closest we have come to it, and the silver price has not collapsed since then. Far from it, the price chart is one of consolidation for another surge.
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| Will the Parti Québécois Alter Québec's Mine-Friendly Policies? Posted: 08 Oct 2012 06:33 AM PDT A plan to build roads into mining projects. Tax breaks for junior mining companies. Does the return to power of the Parti Québécois signal the end to the province's mining-friendly policies? Unlikely, according to Eric Lemieux, equity analyst with Laurentian Bank Securities. In this exclusive interview with The Gold Report, Lemieux says that even if the PQ tweaks current policy, it will take time, and he believes there are plenty of good stories to tell and invest in before that happens.
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| Posted: 08 Oct 2012 12:04 AM PDT Gold rose only 0.59% this past week but remains near a breakout. The rising trend-line is here now and should push gold higher. A move above $1,800 could be bought on a trading basis but very tight and automated stops must be used as they can reverse this in the blink of an eye leaving you with more substantial losses than planned for. All in all the last few weeks of consolidation have been just what gold needed after such a large and rapid rise from mid-August to early September.
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| Silver Wheaton Closes Deal With Hudbay To Ensure It Has A Robust Pipeline Posted: 07 Oct 2012 10:30 PM PDT by Trefis, Seeking Alpha:
Silver Wheaton (NYSE:SLW) has closed its previously announced deal with HudBay Minerals, Inc. It will buy Hudbay's silver production from two of its mines along with some gold production from one of them for about $750 million, plus additional ongoing payments. We think this deal will benefit Silver Wheaton in multiple ways. The increased availability of silver will allow it to leverage its unique business model to take further advantage of high silver prices in the market. The company's business model insulates it from the rising cost of silver production as well as the downside resulting from lower production. In short, the deal provides significant upside as well as downside protection.
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| Gold...Technical Update of ... Posted: 07 Oct 2012 10:01 PM PDT Treasure Chest
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| Posted: 07 Oct 2012 09:41 PM PDT
COLUMBEN: THE WORLD IS FIAT (WilliamBanzai7) In the year two zero one and two He had three ships and left insane; He schemed by night; he fooled by day; A Keynesian compass helped him know Ninety men were on board; Then when the workers went to sleep; Day after day they looked for Ponziland; October 8 their dream came true, Look: "Employed Indians!" ColumBen cried; But "India" the land was not; The angry natives weren't very nice; ColumBen sailed to find some Ponzi gold He made the trip again and again,
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| Posted: 07 Oct 2012 09:12 PM PDT Precious Metals bull market continues and is moving step by step closer to the final parabolic phase (could start in 2013 and last for 2-3 years or maybe later). Price target Dow Jones/Gold Ratio ca. 1:1 Price target Gold/Silver Ratio ca. 10:1 Read More...
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| The Largest Economy In The World Is Imploding Right In Front Of Our Eyes Posted: 07 Oct 2012 09:09 PM PDT from The Economic Collapse Blog:
Read More @ TheEconomicCollpaseBlog.com
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| The SCO, China, Iran, and Gold Posted: 07 Oct 2012 09:00 PM PDT from Gold Money:
I make no apology for returning to the subject of China, its role in the Shanghai Cooperation Organisation, and gold. Gold is now a strategic metal for present and future SCO governments, which between them have over 40% of the world's population; and now that the price of gold is re-establishing its rising trend, understanding its future role as a replacement for the US dollar is increasingly urgent, because gold is wealth and this wealth is being transferred from west to east. The SCO is an economic bloc consisting of China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan. Between them they produce about 26% of the world's gold, none of which leaves the SCO. Other nations accepted as future members are India, Iran, Pakistan, Mongolia and as soon as NATO leaves, Afghanistan. Belarus and Sri Lanka are on the waiting list. It is no less than the economic unification of most of Asia, with a combined population of three billion. All their central banks are buying gold, and the gold imported by the citizens of just two of them (India and China) accounts for all but 400-500 tonnes of the rest of the world's mine production – and some of that (particularly in Africa) is now also controlled by China.
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| Cartel Extends PM Raid on Monday Asian Open Posted: 07 Oct 2012 08:25 PM PDT from Silver Doctors:
Thus, it should be no surprise to SD readers that the cartel has just initiated another water-fall decline smash in silver.
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| Guest Post: What's Wrong With the Silver Market? Posted: 07 Oct 2012 08:19 PM PDT
What is going on with silver? Recent activity in the silver market (especially on the COMEX over the last week) makes it obvious that silver is being manipulated – and on a scale worse than ever before. It's so in your face now that even a child could see it. Especially now that we've had Kitco cleaning Friday`s silver chart in order to remove the massive down spike and even out the decline. This is as good as confirmation of rigging in the market. And the proof is HERE at silverdoctors for all to see. The massive dumping of paper contracts into the market in mere minutes is not done to maximize income from those sales, it`s done purely to drop the price. If you were selling multiple tons of a single commodity into a rising market, would you not sell gradually so as not to affect the price negatively? Of course you would. We all want to make a profit and get the best possible price when we sell, don`t we? Well, not in the case of silver it seems. So WHO would be selling silver in such large (paper) amounts in order to negatively affect price? Somebody with something to gain from doing it that's who. And in my book that means the central bank and government. Gold is the money of kings. Silver is the people`s money. The present goal of most governments is to get the people to spend their money, not save it. With interest rates at zero, inflation is much higher than official government figures, making it pointless to save in a bank any way. The last thing governments and central banks want people to do is save – and they certainly don't want the people to save in physical gold or silver. You only have to look at the mainstream financial media and mainstream investment advisers to see this. The financial sector money junkies can't make any money if the common folks go out and buy physical gold and silver, that`s why they rarely recommend doing so. I believe the recent rise in silver price from around $26 to $34 has only been allowed to happen because pressure was too great for the manipulators to keep it at that price without totally losing control, so they have retreated to higher ground. They will try to keep it below $35 (and gold $1800) but with reports of massive physical buying demand and delays in getting physical metals in size, I believe that even the current prices wont hold for long. The prices will go up again, likely within the next month, and certainly by year end, to at least $37 to $44 in silver and £1900 in gold. Then another battle will commence. It is discouraging to see these raids, but it tells us that the cartel is getting desperate to keep prices contained. These criminals are not stronger than the markets. The market is the entire world, people like you and me who are buying the physical stuff. And more folks will join us as the word gets out. Another way we can begin to fight the cartel is by dictating the price at which we would sell. We all know that these metals are vastly under priced, so take the manipulation into account, work out the price that you think is fair market value for an ounce of PHYSICAL SILVER or PHYSICAL GOLD and the next time you swing by the 'We Buy Gold' Outlet, tell them the price they will have to pay you for your PHYSICAL metal. When they ask how you arrived at such lofty values, explain to them the price is rigged. Then tell them who rigs it and how. SEVEN TIMES the worldwide mine supply of silver traded hands on the Comex during the month of August! Start demanding fair value for your metals. Put a few auctions up on ebay and ask for fair value. The M3 inflation adjusted all-time high for one ounce of PHYSICAL silver is around $500 according to John Williams at Shadowstats. Start there. Sure, you might get laughed at, but when you're asked why you're demanding such high prices, you'll have the opportunity to inform. Get the word out. We have to take our own peaceful actions to stem the cartel's criminality because it appears increasingly clear that the CFTC isn`t going to any time soon.
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| As World Awaits Venezuela Presidential Results, Tanks Enter Caracas Posted: 07 Oct 2012 08:10 PM PDT Update: HUGO CHAVEZ WINS VENEZUELA RE-ELECTION, ELECTORAL COUNCIL SAYS. Contrary to exit polls as noted earlier, Chavez won 54.4% of the vote, with 90% of the votes counted, and a 80.4% turnout, according to the Electoral Council. At least the local APCs are fully stocked on Whoppers for the next few days. While the world awaits with bated breath to find out if Hugo Chavez has lost the first "presidential" election in 14 years (an outcome with major implications for the crude market), which according to the latest exit polls he was trailing 48.1% to 51.3% to challenger Henrique Capriles, Diebold post-processing and hanging chad pro forma-ing notwithstanding, the question is what happens if there is a peaceful overthrow at the helm of the Latin American commodities powerhouse. And we use the term "peaceful" loosely: because the twitter stream is currently abuzz with a picture of tanks in Venezuela's capital as seen below. Hopefully they are merely waiting in line at the drive thru for the latest BK value meal and nothing more.
And since everyone knows what Hugo Chavez (who recently took possession of the country's LBMA gold stash, perhaps rather prudently) looks like, here is what Venezuela's next leader may very well look like if Caracas has not figured out how to operate the Diebold machines yet.
More from Reuters.
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| Sky-high gas prices in California reveal energy infrastructure ripe for sudden collapse Posted: 07 Oct 2012 07:30 PM PDT by Mike Adams, Natural News:
If you're in California, you're paying sky-high prices for gasoline this week. At some stations, prices are over $5 a gallon. But you might not be aware of why you're paying this price. The answer may be more than a little disturbing: California's energy infrastructure is so fragile that a power outage at a single gasoline refinery caused state-wide prices to skyrocket. Yep, an Exxon Mobil refinery in Torrance was knocked offline several days ago by a local power outage. This, in turn, caused a sudden spike in gasoline prices state-wide. This whole fiasco may have been set off by something like a single electrical transformer failing somewhere along the electrical supply chain.
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| Guest Post: America’s Hijackers – Where Are They Now? Posted: 07 Oct 2012 07:14 PM PDT Submitted by Mark McHugh of Across The Street blog, Spoiler Alert: They’re mostly still in office (so much for building suspense). On October 3, 2008, 338 elected officials (263 House reps, 74 Senators and 1 President) took it upon themselves to save America from certain financial doom by passing the Emergency Economic Stabilization Act of 2008, completely ignoring the will of the American people, opting instead to fulfill a Thomas Jefferson prophesy:
Texas representative Ron Paul had this to say:
The most memorable component of that piece of Fun Fact: Hankenstein Paulson worked at Goldman Sachs for 32 years and served as Treasury Secretary for 31 months. So TARP never happened; making discussions of the program’s merits every bit as psychotic as analysis of Ross Perot’s presidency, but that didn’t stop CNBC from having a birthday cake for TARP, nor does it prevent politicians from claiming that the fictitious program was somehow profitable. To make that claim, you must use accounting techniques pioneered by Homer Simpson in “Lard of the Dance” : Homer Simpson: Okay, boy. This is where all the hard work, sacrifice, and painful scaldings pay off. Some of us prefer using this one: Q: Since the Emergency Economic Stabilization Act of 2008 explicitly states that all profits from TARP be used to pay down the National Debt, the true measure of the program’s success can be found at the Treasury’s “Debt to the Penny” website. How much of the national debt has been paid off since October 3, 2008? A: Negative Six Trillion Dollars. Fun Fact (if you’re into child abuse): America’s kids have been saddled with more debt in the past 48 months than the Nation accumulated from the signing of the Declaration of Independence to 9-11-2001 (225 years). That $6 Trillion in debt has produced a grand total of $1.17T in nominal GDP growth ($361B in chained 2005 dollars). Using the nominal, each dollar of GDP growth has cost taxpayers $5.13 (assuming you understand that deficit dollars are tax dollars put on a deferred-payment plan. A concept Greece and Spain are just now beginning to grasp). EESA-approving-congressman-turned-Chicago-Mayor Rahm Emanuel observed:
Which brings me to the point: Despite all the kicking, screaming, TEA-partying and Occupying, of the 338 elected officials who saw fit to pass the EESA, no less than 229 still hold public office:
The next un-funded war is already in the works and there’s another economic crisis on the horizon. The so-called “Fiscal Cliff” is what happens if we DON’T continue $Trillion-plus deficits, and I must admit I find myself somewhat in awe of how grossly mis-framed this discussion has become. So here’s your opportunity to reward these (heroes/traitors) as you see fit, because every nation gets the government it deserves. Senators who voted in favor of the Emergency Economic Stabilization Act of 2008:
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A devastating economic depression is rapidly spreading across the largest economy in the world. Unemployment is skyrocketing, money is being pulled out of the banks at an astounding rate, bad debts are everywhere and economic activity is slowing down month after month. So who am I talking about? Not the United States – the economy that I am talking about has a GDP that is more than two trillion dollars larger. It is not China either – the economy that I am talking about is more than twice the size of China. You have probably guessed it by now – the largest economy in the world is the EU economy. Things in Europe continue to get even worse. Greece and Spain are already experiencing full-blown economic depressions that continue to deepen, and Italy and France are headed down the exact same path that Greece and Spain have gone. Headlines about violent protests and economic despair dominate European newspapers day after day after day. European leaders hold summit meeting after summit meeting, but all of the "solutions" that get announced never seem to fix anything. In fact, the largest economy on the planet continues to implode right in front of our eyes, and the economic shockwave from this implosion is going to be felt to the four corners of the earth.
by silver boy,
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