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Sunday, November 11, 2012

Gold World News Flash

Gold World News Flash

Too Big To Fail, Too Small to Survive & The Choice to Save Diversity

Posted: 10 Nov 2012 11:30 PM PST

from Silver Vigilante:

For each action, there is an equal or opposite reaction. With all the talk of Too Big to Fail – and the lack of talk about Too Small to Survive – one would think this was not so. This silence has caused a grave misunderstanding in the regulation to-be introduced by central planners on Wall Street. As Fortune points out, "analysts, consultants and dealmakers have turned from whether Dodd-Frank will be repealed to what it means for banks now that it's likely here to stay. The overwhelming conclusion: Thousands of small banks will soon disappear."

Emmett Daly. a specialist in small bank deal making, conjectured at an industry conference sponsored by Mergermarket that the number of banks in the US would shrink from over 7,000 to just a few hundred. The head of investment banking at Bank of America Merrill Lynch supported Daly's prediction, but implied that the process would take over a decade.

Read More @ Silver Vigilante

Falling Markets & Why Gold Shorts Are Getting Suckered

Posted: 10 Nov 2012 10:01 PM PST

On the heels of gold and silver rallying and stocks plunging this week, today Michael Pento discusses why gold will soar as the markets are clinging to the edge of a cliff. Michael Pento writes exclusively for King World News to also let readers know what to expect in Europe, and the US going forward. Here is Pento's piece: "Spain wants the ECB to lower its borrowing costs but doesn't want the accompanying pain. Mario Draghi has promised to buy the country's government bonds, but only if Prime Minister Mariano Rajoy makes a request for aid from Europe's bailout fund and also agrees to the ECB's fiscal measures that would greatly reduce the country's deficits."


This posting includes an audio/video/photo media file: Download Now

Resolving Debt Issues – Positive for Gold, Better for Silver

Posted: 10 Nov 2012 10:00 PM PST

Gold climbed despite a fall in equities, breaking away from a recent correlation with risk. All dips in Gold and Silver henceforth should be bought pretty quickly given the Global fiscal challenges that lie in wait.

from Commodity Trade Mantra via SilverBearCafe.com:

Resolving any debt issues with more debt or simply delaying them to a further date will remain highly positive for Gold, but will be better for Silver. This has been seen & experienced over the past 4 years & hold true even now. But even this can prove right to a certain extent of time, which on any scale seems to be getting over stretched. Theory and reality don't always agree & if they do so, it could last only for a certain stretch of time. There will soon come a time when even this equation collapses. Gold & Silver will surely rise as Global Debt levels are increased and / or postponed to a later date. Increased monetary easing will sharply spike up Inflation, which in turn is highly positive for Gold and Silver or also other metals to an extent. Nonetheless we regard pullbacks in Gold as a buying opportunity for now and hold strong to our near term forecast of $1,855. Just imagine a scenario where National Debts are High, Jobless numbers are high, Inflation is also high & strain & frustration on public is high & rising. All these will lead to riots, civic unrest & crime. Gold & Silver will surely get a boost but for the price rally to sustain there needs to be a continuous money supply at higher levels – Where will that come from?

Read More @ SilverBearCafe.com

Moneyness 2: Money is Credit

Posted: 10 Nov 2012 09:43 PM PST

"Gold is the only money the world has ever known" Sounds like a simple thought, but it isn't.To understand the following you must rethink your basic knowledge of money and investments. Get your aspirin ready. –ANOTHER What will change is how we view money and wealthEverything else in Freegold flows from that! My purpose in writing this post is to state my personal view of the concepts of


James Turk: Crunch Time for US in 2013-15 Timeframe

Posted: 10 Nov 2012 09:00 PM PST

from Gold Money:

Gold has been the standout winner following the US election. The metal's performance yesterday was particularly impressive in that it coincided with notable losses in stock markets. The Wall Street Journal comments that year-to-date, gold has outperformed the S&P 500 (the former up 10.6%; the latter just 10%).

This is not a huge difference, and critics of gold will be sure to note that it doesn't pay a dividend. But as Franco-Nevada Chairman Pierre Lassonde once commented: "bullion doesn't pay interest or dividends, nor does it grow or expand by itself. That's the price you pay for tranquillity." Physical gold (and other precious metals) are no one else's liability, in contrast with stocks, bonds, and currencies; given the shakiness of the financial system at the moment and the systemic risk affecting financial assets, this value is not to be sniffed at.

Read More @ GoldMoney.com

Will Spain Turn to Its History of Anarchy in Economic Crisis?

Posted: 10 Nov 2012 07:20 PM PST

from Silver Vigilante:

Tens of thousands of people marched in 56 Spanish cities at the beginning of October to protest austerity cuts imposed from the European north through the ECB. The country has been rocked by an unemployment rate around 30%. The youth unemployment rate is around 50%. 20,000 people marched in Madrid alone behind a banner that read: "They want to ruin the country. We have to stop them." The rally in Spain's capital was supported by 150 organizations.

"They are abusing the lower social classes," 54-year-old teacher Luis Diaz said. "By backing banks, they are torturing the working class and badly affecting public education, health care and pensions when what they should be doing is exactly the opposite."

Read More @ Silver Vigilante

CALIFORNIA – ABOUT TO TAX ITSELF TO DEATH

Posted: 10 Nov 2012 07:08 PM PST

Mike Shedlock describes how Californians have voted for their own demise.

Prepare for Demise of California; Liberals Will Get All the Government (and Tax Hikes) They Want

On Tuesday voters in California went the wrong way on three propositions.
  1. Voters approved Proposition 30 "temporarily" increasing the state sales tax and income tax on individuals making over $250,000.
  2. They voted against Proposition 31 that would allow the governor to cut the budget in fiscal emergencies.
  3. They voted against Proposition 32 would prevent unions from making campaign donations via members' dues.

Moreover, and worse yet, Democrats picked up two more votes in the state legislature giving them a supermajority, capable of passing any tax hikes they want.

Those results are so awful I suggest you prepare for the demise of California.

Indeed California's Liberal Supermajority is about to run the state into the ground and taxpayers are going to get all the government they ever wanted.

The main check on Sacramento excess has been a constitutional amendment requiring a two-thirds majority of both houses to raise taxes. Although Republicans have been in the minority for four decades, they could impose a modicum of spending restraint by blocking tax increases. If Democratic leads stick in two races where ballots are still being counted, liberals will pick up enough seats to secure a supermajority. Governor Jerry Brown then will be the only chaperone for the Liberals Gone Wild video that is Sacramento.

The high Democratic turnout in moderate and right-leaning districts helped the party pick up three seats in the senate and four in the assembly.

So now Californians will experience the joys of one-party, union-run progressive governance. Mr. Brown is urging lawmakers to demonstrate frugality and the "prudence of Joseph." As he said the other day, "we've got to make sure over the next few years that we pay our bills, we invest in the right programs, but we don't go on any spending binges." That's what all Governors say. Trouble is, merely paying the state's delinquent bills will require tens of billions in additional revenues if lawmakers don't undertake fiscal reforms.

With no GOP restraint, liberals can now raise taxes to pay for all this. [$200 billion in unfunded liabilities, the California State Teachers' Retirement System in need of $10 billion annually for the next 30 years to amortize its debt, $73 billion in outstanding bonds for capital projects and $33 billion in voter-authorized bonds, etc.]

They'll probably start by repealing Proposition 13′s tax cap for commercial property. Democrats in the Assembly held hearings on the idea this spring. Then they'll try to make it easier for cities to raise taxes.

The greens want an oil severance tax. Other Democrats want to extend the sales tax to services, supposedly in return for a lower rate, but don't expect any "reform" to be revenue neutral. Look for huge union pay raises and higher pension benefits.

The silver lining here is that Americans will be able to see the modern liberal-union state in all its raw ambition. The Sacramento political class thinks it can tax and regulate the private economy endlessly without consequence. As a political experiment it all should be instructive, and at least Californians can still escape to Nevada or Idaho.

Law of the Funnel in Action

Big government and absurdly strong unions destroyed Greece and Spain. Expect no less for California.
Many large California corporations that can flee, will flee. Those stuck in California will see massive tax hikes (with many more to come) just so public unions and administrators can collect absurdly high salaries and benefits that most citizens can only dream about.

Please see the Law of the Funnel for a description as to what just happened.

Mike "Mish" Shedlock  http://globaleconomicanalysis.blogspot.com

Read more at http://globaleconomicanalysis.blogspot.com/#vpH3GhKkXLPgXLwv.99

EU Budget Talks Collapse

Posted: 10 Nov 2012 07:00 PM PST

Talks to agree the European Union's budget for next year broke down amid rows involving among member states including Britain – sparking a new funding crisis.

by Bruno Waterfield, The Telegraph:

Eight hours of negotiations in Brussels ended in walkouts after MEPs refused to drop demands for an extra £13.8 billion in European Union spending for this year and 2013.

The failure of the talks casts a fresh doubt on whether a major summit to agree to the EU's future funding from 2014 to 2020, scheduled for later this month, can go ahead.

There had already been speculation that the summit would be cancelled because David Cameron was refusing to drop his threat of using Britain's veto to block any future increase above the level of inflation.

Read More @ Telegraph.co.uk

Eric Sprott Speaker At Manhattan Investor

Posted: 10 Nov 2012 04:19 PM PST

Great interview by Eric.
He comments on Rob McEwen being in the audience.

Talking about the 'Big Picture' and all the efforts to keep things together and how they've accomplished nothing.

Says to listen to the companies not the government.

Also talks on gold as his main topic. Worth a listen.

See link here.

Barclays' Barry Knapp Batters Bullish Believers

Posted: 10 Nov 2012 03:03 PM PST

Barclays' Barry Knapp has joined the growing crowd of 'sub-1400 year-end S&P 500 target' realists among sell-side equity strategists. With Morgan Stanley's Adam Parker at 1167 and Goldman's David Kostin at 1250, Knapp just reduced his target to 1325 as he notes "the election scenario that unfolded was the one with the most risk, the status quo outcome." In a brief but densely packed interview on Bloomberg TV (the likes of which we suspect we will not see on CNBC), Knapp summarizes his non-rose-colored-glasses view: "In the longer term, while U.S. growth ... remains constrained by policy uncertainty and balance sheet deleveraging. Financial repression has limited the Fed's effectiveness... We believe a period of significant equity market valuation improvement can't begin until the Fed initiates the exit strategy process, which is unlikely to occur until Federal government debt sustainability is addressed." From lame-duck impotence to tax-selling pressures, Knapp nails our new reality and explains, as we have been saying, that the only solution lies in a market-forced move: "We suspect, absent a market correction large enough to force compromise, the two sides will not agree on the starting point for tax rates."

Knapp nails it a number of times including his dismissal of 'survey's versus market positioning - just as we have been arguing - and as he concludes: people may have been expecting this outcome but they certainly weren't positioned for it.

Within the equity market in the near-term we believe there will be nowhere to hide. Stocks with high dividend yields are likely to come under pressure as President Obama and Harry Reid renew their push to raise taxes on upper income filers taking the 15% dividend tax rate up as well. While some of the recent domestic consumer related data has improved, the market is not discounting the risk of a tax hike and economically sensitive sectors seem likely to take a hit as well.

Must watch:

 

Via Barclays:

In the longer term, while U.S. growth has proven resilient to confidence shocks, it remains constrained by policy uncertainty and balance sheet deleveraging. Financial repression has limited the Fed's effectiveness, rendering it counterproductive as inflation volatility rises and multiples fall. We believe a period of significant equity market valuation improvement can't begin until the Fed initiates the exit strategy process, which is unlikely to occur until Federal government debt sustainability is addressed.

 

The election scenario that unfolded was the one with the most risk, the status quo outcome. Thus, while some observers might argue that there will be no "lame duck" session of Congress, since the major players will all keep their jobs in the 113th Congress, there also seems to be little basis to believe that a grand compromise is in the offing. We see little reason to increase the probability of avoiding the tax cliff or brinksmanship over the debt ceiling, or to expect pro-growth tax and entitlement reform in 2013.

 

Although we're less confident in a positive turn in the data than we were in 2010 or 2011, we are confident the portfolio balance channel will remain heavily utilized by the Fed. If stocks with bond-like characteristics – defensives, high dividend payers and the largest cap – get hit on the risk of higher dividend tax rates, we would add exposure. Given risks around the tax cliff we would avoid economically sensitive sectors unless they cheapen considerably.

 

Status quo it is.

 

Following the launch of QE3 (QE Forever) we wrote that for equities to extend the monetary policy easing anticipatory rally either the economic or public policy outlook would need to improve. We believe a long-term period of sustainable equity market multiple expansion requires monetary policy normalization, which is unlikely until key public policy concerns – tax and debt sustainability via entitlement reform – are settled. The 2010 midterm election provided a short period of improved investor sentiment around those issues however, in our view; the 2012 election has had the opposite effect. We believe that for these crucial fiscal issues to be addressed, in a perhaps even more polarized political environment, the market will probably need to play a central role. With that in mind we cut our 2012 price target for the S&P 500 on Wednesday back toward a level we consider fundamental fair value

So, while some might argue there is no 'lame duck' session of Congress, since the major players all will serve in the 113th Congress, it also appears that there is little basis to believe a grand compromise is in the offing. With a polarized federal government we see little reason to increase the probability of avoiding the tax cliff, brinksmanship over the debt ceiling that has already been reached or enacting pro-growth tax and entitlement reform in 2013, by what appears to be the equivalent of a fragile coalition government.

Two more charts of interest...

Business confidence has again dropped, diverging sharply from consumer confidence, leading to a sharp contraction in capital spending... We have seen this before!!

 

and the market is entirely not positioned for the kind of political uncertainty that is currently ahead of us...

 

so what's an investor to do...

In the near-term, we suggest generally cutting risk.

 

...

 

We would not be tempted to add risk to economically sensitive sectors, particularly not the QE2 roadmap such as the commodity plays (metals and mining, energy) or weak dollar beneficiaries (industrials, technology), unless they cheapen considerably.

An abundance of hope (green lower panel) in strategist's forecasts for S&P 500 performance... but 2012 appears to have reverted them to reality a little - though dispersion is extremely high.

 

Meanwhile, year-end 2012 forecasts (that's less than 2 months away) are topped by Jonathan Golub at 1525 for UBS, Credit Suisse's Andrew Garthwaite at 1500 , Weeden's Chris Harvey at 1492, and HSBC's Garry Evans at 1490

 

Source: Bloomberg and Barclays

Peter Schiff Video: Obama’s Re-election Should Accelerate Gold’s Upward Momentum ? Here?s Why

Posted: 10 Nov 2012 03:00 PM PST

I have long recommended that investors keep 5-10% of their portfolio in physical gold so, in light of Obama’s re-election, it is that much more important if you have no gold or silver in your portfolio, that you to buy some. If you already own gold or silver, you may want to consider adding to your position. Let me explain why that is the case. So says Peter Schiff ([url]www.europacmetals.com[/url]) in edited excerpts from his written introduction to his video about the impact Obama’s re-election will have on the economy*and the outlook for gold as a consequence. [INDENT]Lorimer Wilson, editor of [B][COLOR=#0000ff]www.munKNEE.com (Your Key to Making Money!), may have edited the article below to some degree for length and clarity. This paragraph must be included in any article re-posting to avoid copyright infringement.[/COLOR][/B] [/INDENT]Go here to view his 17 minute long video. [INDENT]Sign up [COLOR=#0000ff]HERE to receive munKNEE.com’s unique newsletter, Your...


OOPS – UNINTENDED CONSEQUENCES OF UNLEASHING STUXNET VIRUS

Posted: 10 Nov 2012 02:32 PM PST

It's called opening Pandora's Box. We deserve whatever happens next. Fuck the Federal Government and their terroristic actions against other sovereign countries.

Stuxnet goes out of control: Chevron infected by anti-Iranian virus, others could be next

America's cyberwar is already seeing collateral damage, and it's hitting the country's own billion-dollar companies. Oil giants Chevron say the Stuxnet computer virus made by the US to target Iran infected their systems as well.

California-based Chevron, a Fortune 500 company that's among the biggest corporations in the world, admits this week that they discovered the Stuxnet worm on their systems back in 2010. Up until now, Chevron managed to make their finding a well-kept secret, and their disclosure published by the Wall Street Journal on Thursday marks the first time a US company has come clean about being infected by the virus intended for Iran's nuclear enrichment program. Mark Koelmel of the company's earth sciences department says that they are likely to not be the last, though.

"We're finding it in our systems and so are other companies," says Koelmel. "So now we have to deal with this."

Koelmel claims that the virus did not have any adverse effects on his company, which generated a quarter of a trillion dollars in revenue during 2011. As soon as Chevron identified the infection, it was taken care of immediately, he says. Other accidental targets might not be so lucky though, and the computer worm's complex coding means it might be a while before anyone else becomes aware of the damage.

"I don't think the US government even realized how far it had spread," Koelmel adds.

Discovered in 2010, the Stuxnet worm was reported with all but certainty to be the creation of the United States, perhaps with the assistance of Israel, to set back Iran's nuclear enrichment program as a preemptive measure against an eventual war. Only as recently as this June, however, American officials with direct knowledge of the worm went public with Uncle Sam's involvement.

In a June 2012 article published by The New York Times, government agents with direct knowledge of Stuxnet claimed that first President George W. Bush, then Barack Obama, oversaw the deployment of the worm as part of a well-crafted cyberassault on Iran. Coupled with another malicious program named Flame and perhaps many more, Stuxnet was waged against Iran as part of an initiative given the codename "Olympic Games." Rather than solely stealing intelligence through use of computer coding, the endeavor was believed to be the first cyberattack that intended to cause actual hard damage.

"Previous cyberattacks had effects limited to other computers," Michael Hayden, the former chief of the CIA, explained to the Times earlier this year. "This is the first attack of a major nature in which a cyberattack was used to effect physical destruction."

On the record, the federal government maintains ignorance on the subject of Stuxnet. With American companies perhaps soon coming out of the woodwork to discuss how they were hit, though, the White House may have to finally admit that they've had direct involvement.

After the Times published their expose in June, Senator Dianne Feinstein, chairwoman of Intelligence Committee, called for an investigation to track down how the media was first made aware of America's involvement in Olympic Games.

"I am deeply disturbed by the continuing leaks of classified information to the media, most recently regarding alleged cyber efforts targeting Iran's nuclear program," Feinstein said through a statement at the time. "I made it clear that disclosures of this type endanger American lives and undermine America's national security."

When Feinstein spoke to DC's The Hill newspaper, she said, "the leak about the attack on Iran's nuclear program could 'to some extent' provide justification for copycat attacks against the United States." According to the chairwoman, "This is like an avalanche. It is very detrimental and, candidly, I found it very concerning. There's no question that this kind of thing hurts our country."

Just last month, a shadowy Iranian-based hacking group called The Qassam Cyber Fighters took credit for launching a cyberattack on the servers of Capital One Financial Corp. and BB&T Corp., two of the biggest names in the American banking industry. Days earlier, Google informed some of its American users that they may be targeted in a state-sponsored cyberattack from abroad, and computer experts insist that these assaults will only intensify over time.

"We absolutely have seen more activity from the Middle East, and in particular Iran has been increasingly active as they build up their cyber capabilities," CrowdStrike Security President George Kurtz told the Times.

Speaking of the accidental impact Stuxnet could soon have in the US, Chevron's Koelmel tells the Journal, "I think the downside of what they did is going to be far worse than what they actually accomplished."

Argentina’s Economic Collapse (orginally posted May, 2011)

Posted: 10 Nov 2012 01:00 PM PST

I post this 12-part documentary every six months or so to give people, especially in the U.S., an idea of the chronology of events that have transpired and will soon transpire in relation to the fusion of banksters and politicians … Continue reading →

"The Worm Turns" As Chevron 'Infected' By Stuxnet Collateral Damage

Posted: 10 Nov 2012 12:58 PM PST

"I don't think the US government even realized how far it had spread" is how the collateral damage from the Iran-attacking Stuxnet computer virus is described by Chevron. The sleep San-Ramon-based oil giant admitted this week that from 2010 on "we're finding it in our systems and so are other companies... so now we have to deal with it." It would seem that little consideration for just how viral this cyber warfare tactic has become and this news (reported by Russia Today) is the first time a US company has come clean about the accidental infection. Discovered in 2010, the Stuxnet worm was reported with all but certainty to be the creation of the United States, perhaps with the assistance of Israel, to set back Iran's nuclear enrichment program as a preemptive measure against an eventual war. In a June 2012 article published by The New York Times, government agents with direct knowledge of Stuxnet claimed that first President George W. Bush, then Barack Obama, oversaw the deployment of the worm as part of a well-crafted cyberassault on Iran. On the record, the federal government maintains ignorance on the subject of Stuxnet, but perhaps Chevron sums up the impact of Stuxnet best (given the escalating Iranian enrichment program): "I think the downside of what they did is going to be far worse than what they actually accomplished."

 

Via Russia Today:

America's cyberwar is already seeing collateral damage, and it's hitting the country's own billion-dollar companies. Oil giants Chevron say the Stuxnet computer virus made by the US to target Iran infected their systems as well.

 

California-based Chevron, a Fortune 500 company that's among the biggest corporations in the world, admits this week that they discovered the Stuxnet worm on their systems back in 2010. Up until now, Chevron managed to make their finding a well-kept secret, and their disclosure published by the Wall Street Journal on Thursday marks the first time a US company has come clean about being infected by the virus intended for Iran's nuclear enrichment program. Mark Koelmel of the company's earth sciences department says that they are likely to not be the last, though.

 

"We're finding it in our systems and so are other companies," says Koelmel. "So now we have to deal with this."

 

Koelmel claims that the virus did not have any adverse effects on his company, which generated a quarter of a trillion dollars in revenue during 2011. As soon as Chevron identified the infection, it was taken care of immediately, he says. Other accidental targets might not be so lucky though, and the computer worm's complex coding means it might be a while before anyone else becomes aware of the damage.

 

"I don't think the US government even realized how far it had spread," Koelmel adds.

 

Discovered in 2010, the Stuxnet worm was reported with all but certainty to be the creation of the United States, perhaps with the assistance of Israel, to set back Iran's nuclear enrichment program as a preemptive measure against an eventual war. Only as recently as this June, however, American officials with direct knowledge of the worm went public with Uncle Sam's involvement.

 

In a June 2012 article published by The New York Times, government agents with direct knowledge of Stuxnet claimed that first President George W. Bush, then Barack Obama, oversaw the deployment of the worm as part of a well-crafted cyberassault on Iran. Coupled with another malicious program named Flame and perhaps many more, Stuxnet was waged against Iran as part of an initiative given the codename "Olympic Games." Rather than solely stealing intelligence through use of computer coding, the endeavor was believed to be the first cyberattack that intended to cause actual hard damage.

 

"Previous cyberattacks had effects limited to other computers," Michael Hayden, the former chief of the CIA, explained to the Times earlier this year. "This is the first attack of a major nature in which a cyberattack was used to effect physical destruction."

 

On the record, the federal government maintains ignorance on the subject of Stuxnet. With American companies perhaps soon coming out of the woodwork to discuss how they were hit, though, the White House may have to finally admit that they've had direct involvement.

 

After the Times published their expose in June, Senator Dianne Feinstein, chairwoman of Intelligence Committee, called for an investigation to track down how the media was first made aware of America's involvement in Olympic Games.

 

"I am deeply disturbed by the continuing leaks of classified information to the media, most recently regarding alleged cyber efforts targeting Iran's nuclear program," Feinstein said through a statement at the time. "I made it clear that disclosures of this type endanger American lives and undermine America's national security."

 

When Feinstein spoke to DC's The Hill newspaper, she said, "the leak about the attack on Iran's nuclear program could 'to some extent' provide justification for copycat attacks against the United States." According to the chairwoman, "This is like an avalanche. It is very detrimental and, candidly, I found it very concerning. There's no question that this kind of thing hurts our country."

 

Just last month, a shadowy Iranian-based hacking group called The Qassam Cyber Fighters took credit for launching a cyberattack on the servers of Capital One Financial Corp. and BB&T Corp., two of the biggest names in the American banking industry. Days earlier, Google informed some of its American users that they may be targeted in a state-sponsored cyberattack from abroad, and computer experts insist that these assaults will only intensify over time.

 

"We absolutely have seen more activity from the Middle East, and in particular Iran has been increasingly active as they build up their cyber capabilities," CrowdStrike Security President George Kurtz told the Times.

 

Speaking of the accidental impact Stuxnet could soon have in the US, Chevron's Koelmel tells the Journal, "I think the downside of what they did is going to be far worse than what they actually accomplished."

[TaM-1257] The Truth About Germany’s Gold

Posted: 10 Nov 2012 12:35 PM PST

We talk about the week’s big events: more on Germany’s gold reserves in London and in New York, Gordon Brown’s bottom, Max Keiser’s profile in the Independent on Sunday and the People’s Bailout. Download show here For more download & … Continue reading →


This posting includes an audio/video/photo media file: Download Now

Gold Chart and Comments

Posted: 10 Nov 2012 12:33 PM PST

[url]http://www.traderdannorcini.blogspot.com/[/url] [url]http://www.fortwealth.com/[/url] I am posting a weekly gold chart to provide a longer term perspective on the metal's prospects so as to eliminate some of wild swings in price associated with both pre-election sentiment as well as post election sentiment. First notice that the range trade is still solidly in place with $1800 capping the top and $1530-$1550 supporting the bottom. Note that while gold broke the downtrend pattern in late summer this year when it pushed through 1680, it still remains within that broad sideways pattern. This week produced what is known in technical analysis jargon as a "bullish outside reversal pattern". It occurs whenever a market makes a new LOWER low price and then reverses higher to make a high ABOVE THE HIGH OF THE PREVIOUS BAR and then closes above that previous high. That is normally a sign that the selling has exhausted itself, being overdone, and that valued based buyers believed prices ...


The Prepper Movie: When Survival Is All That’s Left

Posted: 10 Nov 2012 11:48 AM PST

Coming soon to a home theater near you; from the producers of Full Spectrum Survival:

    An explosive narrative following a catastrophic collapse. The movie follows groups of preppers after an event who must use every resource at their disposal to survive in a post collapse society.

    In this movie you will find yourself following people from varying walks of life as they adapt their lives to a new and lawless environment.

    What do people do when they can't call the police for help?

    What do they do when their neighbors demand their food?

    When their friends become their enemies?

Official Movie Announcement:

    The Prepper Movie is the first of its kind. A 30 minute Feature Film that follows groups of preppers after a world shattering event takes place.

    With over 2 hours of additional information and instructions available The Prepper Movie will give you an adrenaline filled crash-course on how to survive in a lawless environment and will contain so much novel information that even the most advanced will walk away with new ideas and practices to add to their preparedness plans. Read more....


This posting includes an audio/video/photo media file: Download Now

Bond Markets Train Wreck to Benefit Gold

Posted: 10 Nov 2012 11:06 AM PST

Why investors, fearful of currency depreciation, have turned to gold... Not so long ago, everyone seemed to think Greece was about to leave the Euro.


Eric Sprott's presentation on market manipulation at Manhattan Investors conference

Posted: 10 Nov 2012 09:58 AM PST

12:01p ET Saturday, November 10, 2012

Dear Friend of GATA and Gold:

Sprott Asset Management CEO Eric Sprott talked about central bank market manipulation, gold, silver, and bailouts galore in a half-hour presentation to the Manhattan Investors conference in New York City on October 11, and video of the presentation has been posted at Yahoo Finance here:

http://au.finance.yahoo.com/video/eric-sprott-presents-manhattan-investo...

And at Investorium here:

http://www.investorium.tv/

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


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Fred Goldstein and Tim Murphy open All Pro Gold

Longtime GATA supporters Fred Goldstein and Tim Murphy have brought their many years of experience in the precious metals and numismatic coins to All Pro Gold as metals brokers who specialize in the delivery of gold and silver bullion bars and coins as well as numismatic gold and silver coins. Fred and Tim follow these markets closely and are assisted by a team of consultants in monitoring market trends. All Pro Gold offers GATA supporters competitive pricing on all bullion products and welcomes inquiries. Tim can be reached at 602-299-2585 and Tim@allprogold.com, Fred at 602-799-8378 and Fred@allprogold.com. Ask about their ratio strategy and the relationship of generic $20 dollar gold pieces to 1-ounce gold bullion coins. Visit their Internet site at http://www.allprogold.com/.


Join GATA here:

Vancouver Resource Investment Conference
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http://www.cambridgehouse.com/event/vancouver-resource-investment-confer...

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Opinion Around the World Is Changing
in Favor of Gold -- Find Out Why

When Deutschebank calls gold "good money" and paper "bad money". ...

http://www.gata.org/node/11765

When the president of the German central bank, the Bundesbank, pays tribute to gold as "a timeless classic". ...

http://www.forbes.com/sites/ralphbenko/2012/09/24/signs-of-the-gold-stan...

When a leading member of the policy committee of the People's Bank of China calls the gold standard "an excellent monetary system". ...

http://www.forbes.com/sites/ralphbenko/2012/10/01/signs-of-the-gold-stan...

When a CNN reporter writes in The China Post that the "gold commission" plank in the 2012 Republican platform will "reverberate around the world". ...

http://www.thegoldstandardnow.org/key-blogs/1563-china-post-the-gop-gold...

When the Subcommittee on Domestic Monetary Policy of the U.S. House of Representatives twice called on economist, historian, and gold standard advocate Lewis E. Lehrman to testify. ...

World opinion is changing in favor of gold.

How can you learn why and what it will mean to you?

Read the newly updated and expanded edition of Lehrman's book, "The True Gold Standard."

Financial journalist James Grant says of "The True Gold Standard": "If you have ever wondered how the world can get from here to there -- from the chaos of depreciating paper to a convertible currency worthy of our children and our grandchildren -- wonder no more. The answer, brilliantly expounded, is between these covers. America has long needed a modern Alexander Hamilton. In Lewis E. Lehrman she has finally found him."

To buy a copy of "The True Gold Standard," please visit:

http://www.thegoldstandardnow.com/publications/the-true-gold-standard

USDJPY: The Medium-Term Trend is Still Up

Posted: 10 Nov 2012 09:47 AM PST

The US deficit is huge and the fight over the fiscal cliff could intensify. Despite a brief rebound, the U.S. dollar index can fall to 78.00. Japan is in a recession, USDJPY technical and fundamental pictures point to a move toward 82.00. Read More...



Saturday (morning) Weekly Market Wrap for November 10, 2012

Posted: 10 Nov 2012 08:35 AM PST

Treasuries were Up as would be expected for the week. A Mini-Pull Back is in the making. The U.S. Dollar was Up a bit and is looking to rally some more. My Rally now looks like it is Topping. Read More...



CLOSE PERSONAL RELATIONSHIP MY FAT ASS

Posted: 10 Nov 2012 08:31 AM PST

War mongering douchebags seem to be having a bad week. The head of the biggest arms dealer on earth just got caught sticking his wick in a subordinate's cooch. This isn't just about cheating on your spouse. This is about power and thinking you are above the standards lived by most Americans. Power hungry cutthroat scumbags are the type of people who make it to the tops of major corporations, the government and military. They operate under a different standard and think they are superior to the commoners. They always abuse their power. ALWAYS.
 
The description of why he was fired by the company makes my skin crawl with its Bernaysian spin designed to make it seem like he was just too close to his pal. What bullshit. I'm sure this douchebag will receive a multi-million dollar severance for his dedicated service. This country and its leaders disgust and sicken me.  

Lockheed Martin ousts new CEO for relationship

BETHESDA, Md. (AP) — Lockheed Martin has ousted its president and future CEO over a relationship with a subordinate.

The defense company said Friday that its board of directors asked for and received the resignation of Christopher Kubasik from his role as vice chairman, president and chief operating officer.

Kubasik, 51, was scheduled to become CEO in January.

Lockheed Martin says an ethics investigation confirmed that he had a close personal relationship with a subordinate employee. That violates the company's code of ethics and business conduct.

"I regret that my conduct in this matter did not meet the standards to which I have always held myself," Kubasik said in a statement.

Kubasik said that his departure in no way reflects on the strength of Lockheed Martin and he remains confident in the future of the company, where he had worked for the past 13 years.

Kubasik joins a roster of high-ranking executives who have exited their posts in recent years over the fallout from ill-advised relationships.

Among them, former Best Buy CEO Brian Dunn, who resigned from the retailer in April after an investigation found he violated company policy by having an inappropriate relationship with a female employee.

In other cases allegations of improper behavior supported by a paper trail of questionable spending have provided enough fuel to drive top management out of the executive suite.

William Sannwald, a professor of business ethics at San Diego State University, said there's no easy way to explain why executives continue to be ensnared in these sorts of ethical lapses.

"It just happens, and perhaps it's the power that comes with the position that makes them feel that they can be above scrutiny," he said.

As for Kubasik, his choice to get involved with a subordinate clearly reflects on more than just his personal life, Sannwald said.

"It's poor judgment on his part," Sannwald said. "And probably Lockheed might be better off that he didn't take the position, if he exhibits that kind of poor judgment in his own personal relationships."

Lockheed Martin's board elected the executive vice president of its electronics systems business to take Kubasik's role.

Marillyn Hewson, 58, will be president, chief operating officer and a director. She takes over as CEO in January. Hewson joined the company in 1983.

This Past Week in Gold

Posted: 10 Nov 2012 07:17 AM PST

Summary: Long term - on major sell signal. Short term - on mixed signals. We had some new buy signals this week but no set ups yet, as the multi week correction continues. Read More...



Real estate priced in gold

Posted: 10 Nov 2012 07:00 AM PST

Throughout history many fortunes have been made and lost in real estate. Luck has of course played a part in these outcomes, but the main reason for changing fortunes is the decisions that were made, ...


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