saveyourassetsfirst3 |
- Cost of presidential campaigns show big problems for the dollar
- By 2016 Election Bullion Could Be $3,700 an Ounce
- A Most Important Indicator for International Investing (& National Economic) Success
- The Politicians We Have Chosen Reflect Who We Are As A Nation
- The gold of the Bundesbank - Receipt trick reloaded?
- Obama Victory: Increased Gold And Silver Storage In Zurich And Asian Capitals
- Election Results: Best of All Possible Worlds for Gold
- Silver Update: Power Of Markets 11.7.12
- SilverFuturist: SLV Does Contain Physical Silver
- Booms and Busts of the Gold Standard Era
- Jim Willie (Part 2): the rush for physical gold is on
- Keiser Report: Triple-Dip Recession Nightmare
- Greg: Crude Oil Is Black Gold.
- John Hathaway talks with King World News
- What You Need To Know About The Coming Gold & Silver Move
- Hathaway: Gold Setup To Super-Surge To New All-Time Highs
- This Is How Gold & Silver Will Fare If Stocks Are Crushed
- Northern Tiger Resources Identifies New Gold Anomaly at Korat Project in Yukon's White Gold District
- Precious Metals Storage Increases In Zurich & Asia
- Gold is 'Living Up to Safe Haven Reputation'
- Perched on Mining's Knife Edge with Jay Taylor
- John Hathaway: Gold Set to Super-Surge to New All-Time Highs
- Jim Rogers: Get Ready for Cheap Money 'Run Amok'
- Despite rising prices, gold holds the glitter
- Three King World News Blogs
- Angst returns on German recession fears and U.S. fiscal cliff
| Cost of presidential campaigns show big problems for the dollar Posted: 08 Nov 2012 10:33 AM PST    Cost of presidential campaigns show big problems for the dollar.Posted NOV 8 2012 by WILL BANCROFT in GOLD BULLION, INDEPENDENT COMMENT & ANALYSIS There has been much discussion recently about the growing cost of running to be President of the United States. The Presidency has been described as the ultimate recession proof commodity. Others might tell you it's just the price to climb aboard and loot the good ship America. Whatever is true, the dollar cost of getting into the Oval Office has been rising at a stunning pace, and this is no new phenomenon. Interestingly though, the cost in gold ounces of running for office has not been rising nearly so fast. Today it requires a block of dollar bills 40 feet by 50 feet by 31.25 feet to run for office, or a bit more than a cubic metre of gold bullion (118.37 cm by 118.37 cm). The dollar cost of running for President in 2012 was forecast to be £1.8bn by the Centre for Responsive Politics (a pretty good estimate given the eventual costs of $1.9bn). This is 77,186% higher than it was in 1908, which marks a cost increase of 10.53% every year for 104 years. Compare this to the cost in gold ounces, which has risen by 861% over this time, a yearly rise of 5.44%. Planning on running for office? Look to gold bullionFor much of the 20th and early 21st centuries the cost of running for President has been rising nearly twice as fast in greenbacks compared to gold ounces. Don't take our word for it, look at the chart below:
NB – We could only find data of $15m attributable to the Republican campaign in, so conservatively guesstimated $10m for the Democratic candidate. The history of American political funding is one littered with the great names of American business and commerce, who sought to exert their control in the jurisdiction they did business in, later followed by money flowing in from the labour movement as well. This story, as told by George Thayer in his book, 'Who shakes the money tree? American campaign financing practices from 1798 to present (1973)', shows campaign funds rising in a quasi-political cash race for many decades. Thayer's book provides the data we use for the pre-1972 election races. For data after this we have lent on the excellent Centre for Responsive Politics. Is this trend set to continue?What is most interesting though is how the rising dollar costs have been compounding themselves year on year, taking off like a veritable rocket. The pace of this cost acceleration is significant, and when plotted against the rising costs in gold terms, gives food for thought. Take a look at the graph below, which takes the data from our table above to show directional trends in funding costs in dollars and gold.
From the 1960s the genie is starting to escape the bottle, and after the 1970s and Nixon's closing of the Gold Window pass by the trend is really starting to manifest itself. But, the really breath-taking part of this graph is from 1999 onwards; the era of 'the Greenspan put', low interest rates, and what we were told was the 'Great Moderation'. From Gold Standards to the closing of the Gold WindowThose with a grasp of monetary history will spot how closely the lines of the graph track each other from 1908 until the late 1950s. For much of this time period the dollar was linked in greater or lesser form to gold. For a twist on the graph above, try the same data plotted against a logarithmic scale. The trend is still there, with a few other interesting bumps along the way. Note what the 1970s bull market in gold did for the cost of running in gold bullion. The post 2005 period also shows a rising gold bull market exerting its influence on Presidential campaigning costs in this unit of account.
What does it all mean?Well if we were running a major American party and needing to finance future campaigns, we'd buy gold bullion and keep our party coffers stacked with gold, to then sell in the run up to election times in exchange for dollars. Perhaps in the future we could even sell that gold directly for goods and services, without needing to go via the dollar. Gold bullion once again proved to be a better storehouse for savings, value, liquidity, or whatever you want to call it. That's not to say there hasn't been inflation in the costs of Presidential campaigning in gold – there has – but it has exhibited itself at a far lower level over a considerable time period. Dollars simply did a worse job for us over this time period, and by quite a margin.
The yellow bars on the chart above, representing gold, consistently stand favourably shorter compared to the green bars, representing dollars. You might argue the Republican Party is currently most favourable to gold, with Gold Commissions being touted and Congressman Ron Paul holding sway amongst their ranks, but the GOP doesn't bank roll Presidential elections from a gold vault yet. Perhaps American parties should buy gold for their future campaigning? Or even better, perhaps party fund raisers should get pally with the world's largest gold miners and their owners? If we were managing the long term running costs of a political party we'd be looking at some of the great names in gold mining for help. Think of the likes of Pierre Lassonde, Rob McEwen and Mark Bristow. US elections certainly prove another example of just how much purchasing power the dollar has been losing since Nixon. CATEGORIES: Gold bullion, Independent comment & analysis About the Author Will Bancroft is Co-Founder of The Real Asset Company, a market place for individuals to invest in gold, silver and precious metals. Will also contributes commentary and analysis to the Research Desk. His interest in financial markets and investment led to a keen interest in monetary economics, gold and silver. Will is passionate about gold's role in a portfolio and his views appear on sites and media such as Kitco, Market Oracle, Seeking Alpha, Stockopedia, The Telegraph and Yahoo Finance. Keep in touch with Will's commentary via RSS feed Gold Investment News.View all posts by Will Bancroft →
|
| By 2016 Election Bullion Could Be $3,700 an Ounce Posted: 08 Nov 2012 09:48 AM PST So what does all of this mean to investors in hard assets – particularly those with holdings in gold and silver? Since Obama was elected in 2008, gold is up 116% and silver us up a whopping 198%. A similar performance could be enjoyed over the next four years. |
| A Most Important Indicator for International Investing (& National Economic) Success Posted: 08 Nov 2012 08:56 AM PST "…We think that our responsibility is to clearly explain how the economic machine works by describing the cause/effect relationships that make it up… "What are the Keys to Success? It seems intuitively obvious, and is in keeping with our experiences as a practitioners operating in many countries over several decades, that four factors drive relative growth: …competitiveness, indebtedness, culture and luck. In a study that we did … we show how we measured each of these and how they predicted subsequent growth, … focus on one of the components of our 'Formula for Economic Success; –self-sufficiency–… "It is both logical and consistent with the evidence to believe that self-sufficiency is an important ingredient for individuals and societies to be successful. Self-sufficiency encourages productivity by tying the ability to spend to the need to produce, it allows people to be free rather than dependent on others, and it gives people self-respect. It is not controversial to say that people spend the money that they earn differently than the money that others give them…. If people have to earn money to spend it, they have to be more productive. Over the long run increases in living standards rise as a function of increases in productivity. So, it is not a big leap to presume that countries with greater amounts of self-sufficiency do better than those with less. Since self-sufficiency creates capability and independence it produces self-esteem… "…these factors are more highly correlated with happiness level than the amount of money one has. For these reasons, it is logical to conclude that self-reliance is both productive and satisfying…. "To be clear, by self-sufficiency, we do not necessarily mean leaving people on their own. Cases in which people are helped to stand on their own and the help prove to be cost-effective in encouraging growth…." "Formula for Economic Success: Self-Sufficiency" Ray Dalio, Bridgewater Associates, via zerohedge.com, 11/03/2012 There are many commonly accepted Indicators essential to successful Investing in countries other than one's own. They include political stability, Reasonable and Enforceable Rules of Law, Reasonable Transparency and a positive Pro-Business Climate. But perhaps the Most Important Indicator – the degree of Self-Reliance of those nations and individuals in those Nations is not well recognized. Bridgewater Associates' Ray Dalio has done Investors and Citizens of all Nations a Great Service by identifying Self-Sufficiency as the Key Trait of Economically Successful Nations and Individuals in those Nations. (Dalio uses the term "Self-Sufficiency" interchangeably with "Self-Reliance", but Deepcaster prefers "Self-Reliance" because it indicates an appreciation of the value of interchanges – as, e.g., trade – among people and Nations, provided it does not reflect an excessive dependency.) Yet another benefit of Bridgewater's study is the development of Criteria and a Reasonable Procedure for quantifying the Degree of Self-Reliance of Nations based on actual correlations with economic success or lack thereof. Investors are quite familiar with two of the four factors Bridgewater identifies which determine relative growth and economic health – competitiveness and indebtedness, but two others – culture and luck – are equally important. These four factors collectively provide excellent indicators of economic success. Nonetheless, there are Critical Implications, and one Crucial Omission, of considerable importance to Investors, which the study does not address. For example, the Omission of a "Resource Availability and Sustainable Use" "Indicator" is significant. Clearly, a country's Natural Resources base and whether it is used sustainably, if that is possible, are critically important. Nonetheless, the Bridgewater structure as applied is very useful and, when applied to specific countries, as in Bridgewater's ranking appears quite accurate. For example, it is no surprise that Indonesia, Singapore and Thailand are the top three performers according to the Bridgewater criteria and that Greece, Spain, France, Italy and Ireland are among those at the very bottom. These bottom-dwellers' excessive Indebtedness and Dependency on a Supranational Structure – The Malignant Eurozone Bureaucracy – are impediments to their Economic and Political Success, and indeed their Liberty. Thus there is an important logical and Necessary Inference from their data which Bridgewater does not explicitly make. Any Regional or Supra-National Structure which Impairs National or Individual Self-Reliance (such as the ECB and Eurozone bureaucracy or the North American Union) should be avoided at all costs. And this caution extends to certain Multinational Agreements. For example, the proponents of "Free Trade" Agreements claim, with some justification, that such Agreements would benefit consumers via lower cost goods imported from abroad. But what these proponents neglect to point out is that these agreements inevitably result in shipping jobs overseas as well. For example, Americans are discovering that their 25 million unemployed, many of whom are unemployed because their jobs have been shipped overseas, cannot buy foreign-made goods whatever the costs. In such cases, a healthy tariff system (i.e. "Fair Trade") would preserve American jobs (or jobs of other Nations whose Nations are similarly encumbered by such Agreements), and thus preserve Americans' Self-Reliance. Another example is that of the pitiful Eurozone Nations which capitulated several years ago to the demands that they adopt the common currency – the Euro – and thus took a massive step away from self-reliance. Now they cannot even print their way out of their own difficulties, but must rely on the not-so-tender mercies of the international Banking Cartel. But perhaps, even worse than the economic penalties people pay for relinquishing their self-reliance, is the consequent inevitable loss of political and personal freedom when they have ceded those freedoms to a Globalist (as opposed to an internationalist) Elite. Consider how shocking but not surprising, the attitude of Italy's unelected Prime Minister Mario Monti is that "Governments" should not be bound by the decisions of their democratically elected parliaments and should be free to act without regard to the decisions of their citizens. No surprise either that Monti's goal is the "Deeper Integration" of Europe in light of his membership in the Trilateral Commission and Bilderberg Group, his affiliation with Goldman Sachs, and his being a founding member of the Spinelli Group, devoted to deeper integration of the EU. No surprise either that another member of the Spinelli Group Steering Committee is Daniel Cohn-Bendit (yes, the so-called "Danny the Red" a leading leftist Radical Activist in the Paris Uprisings of 1968). The Implication for Investor-Citizens, as well as Citizens, should be clear: the typical member of the Regionalist (i.e. Globalist) Elite acts in their own interest (which is to say the interest of the Mega-Bank Cartel (see Note 1)). Not only are the typical Globalist Cartel leaders anti-democratic Globalists, they also prefer to conduct their Affairs in secret. Chris Powell's observations at the height of the Financial Crisis are still most relevant today. "Refusing to disclose to Bloomberg News the identities of (the recipients of - Ed.) $2 trillion in government loans… the Federal Reserve Board is making the same argument it made this year in denying GATA access to the Fed's records involving the U.S. gold reserve - - that "trade secrets" are exempt from disclosure. …any government that can disburse $2 trillion secretly, without any accountability, is not a democratic government. It is government, of, by, and, for the bankers. And maybe now GATA isn't the only one to think so." (emphasis added) "Fed refuses to disclose recipients of $2 trillion" Chris Powell, Secretary/Treasurer, Gold Anti-Trust Action Committee, 12/12/2008 The refusal (in the midst of the 2008-2009 Financial Crisis) of the private-for-profit U.S. Federal Reserve to identify the recipients of over $2 trillion in loans funded and/or authorized by the U.S. Congress, "courtesy" of U.S. Taxpayers, serves to re-emphasize the Grave Threat which The Fed-led Cartel poses to democracy. The Modus Operandi continues to this day – the U.S. Taxpayer continues to borrow money (and pay interest on it) from The Fed which prints it for free out of thin air. Congress simply rolled over and gave The Fed trillions in Bailout Monies, Authorizations and Guarantees, without any significant requirements of oversight or accountability, or disclosure, mandated. And, as our discussion of The Cartel's End Game demonstrates, the threat goes beyond the policy of using U.S. Taxpayer-provided funds without disclosure or accountability. That threat is systemic and ongoing and increasing. "Most Americans have a sense TARP was a badly managed program that bailed out "fat cat" bankers at the expense of U.S. taxpayers. Well, it's even worse than you think, according to Neil Barofsky, former Special Inspector General for TARP (SIGTARP). "Officials in both the Bush and Obama administrations took the attitude 'bankers know best,' Barofsky recalls. 'It was somewhat shocking how much control big banks had over their own bailout [and] the overwhelming deference shown by Treasury officials to the banks.' "(In an accompanying video, [this writer]) focused more on TARP's failings to live up to its promise to help individual Americans, not just the big banks. "Congress never would've passed TARP if not for programs included in the program to help homeowners facing foreclosure and generally spur bank lending. 'TARP was an abysmal failure on those very important goals which was the reason why they got that money to give to the banks in the first place,' Barofsky says. "TARP 'did help prevent financial Armageddon,' he concedes. 'But there's a reason why Congress required and Treasury promised TARP would do a lot more. It's not complicated to take hundreds of billions [of dollars] and pour them into institutions ... and they don't fail. You really can't evaluate TARP' exclusively on how it impacted the banks. "Similarly, Barofsky takes offense to Treasury's repeated proclamations that TARP has been profitable. "While the big banks have paid back their loans, the overall program is now projected to lose somewhere between $32 billion to $70 billion, with $109.1 billion owed as of June 30, according to SIGTARP. Most of those losses are tied to AIG -- Treasury still own 61% of the company -- but more than half of the 325 banks that received TARP aid have missed dividend or interest payments. "'The bottom line is [the government] still expects tens of millions of losses on TARP,' Barofsky says. 'The losses are a lot less than originally anticipated but this resorting to trickery really shows you they're trying to cover up how badly TARP has failed in its other goals of helping homeowners and increasing lending to the economy.'" "TARP Was Even Worse Than You Think: "An Abysmal Failure," Barofsky Says" Aaron Task, The Daily Ticker, 7/27/2012 Clearly, Investor-Citizens suffer when they cede their self-sufficiency to supra-Nation Institutions. TARP provides just one example, but there are others including, importantly allowing, degradations of the Purchasing Power of Fiat Currencies, via Monetary Inflation, e.g. the QE of The Fed and ECB. Concerning the threat to Investors Profits, this Massive Monetary Inflation via Q.E. 1, 2, and 3 (and similar ECB actions) entails a continuing and Massive Decrease in Purchasing Power for both U.S. Taxpayers and Investors around the world. Notably, this QE unleashed this Force which does provide considerable Opportunity for Profit and Protection (see Notes 3 and 4 below). As well, the massive Monetary Inflation continues to result in a massive Stealth Wealth Transfer to the owners of the private-for-profit Federal Reserve (and ECB's Client Banks) and their Favored Financial Institutions. This loss in Purchasing Power may be appropriately called The Fed's ongoing (since the Fed's Founding in 1913) "Inflation Tax." The "Inflation Tax" works like this: every dollar the Fed prints in excess of GDP growth makes every dollar each of us holds worth less than before in Purchasing Power terms. Indeed, over 95% less since The Fed's founding. But, today, there is no real U.S. GDP growth (see Note 2 below) and there has not been for many months. Consider the following in order to better understand the negative effects of the destruction of the Purchasing Power of the U.S. Dollar and certain other Fiat Currencies, as well as the attempted ongoing implementation of the quite anti-democratic Cartel "End Game." "…in every major US financial panic since at least the Panic of 1835, the titans of Wall Street – most especially until 1929, the House of JP Morgan – have deliberately triggered bank panics behind the scenes in order to consolidate their grip on US banking. The private banks used the panics to control Washington policy including the exact definition of the private ownership of the new Federal Reserve in 1913, and to consolidate their control over industry such as US Steel, Caterpillar, Westinghouse and the like. They are, in short, old hands at such financial warfare to increase their power. Now they must do something similar on a global scale to be able to continue to dominate global finance, the heart of the power of the American Century. That process of using panics to centralize their private power created an extremely powerful concentration of financial and economic power in a few private hands, the same hands which created the influential US foreign policy think-tank, the New York Council on Foreign Relations in 1919…" "Behind the panic: financial warfare over future of global bank power" F. William Engdahl, 10/10/2008 Consider the implications of the F. William Engdahl quote regarding "global bank power." As Engdahl points out, the evidence is increasing that the 2007-2009 financial panic and economic distress is and has been planned as a part of Cartel Strategy to increase power and, in our view, to implement its "End Game." To understand the Cartel's likely "End Game" we must understand the Root Cause. The Root Cause of The Systemic Threat to Democracy and Investor Profits The root cause of The Threat lies in the structure, functioning and policies of the private-for-profit "U.S." Federal Reserve. Various international private banks, several of which are headquartered in Europe, own the "United States" Federal Reserve Bank. These International Mega-Bankers, acting through their "U.S." Fed, make money by creating money out of "thin air" as eloquently described by the Dean of the Newsletter Writers, Richard Russell: "I still can't get over the whole Federal Reserve racket." Consider the following - - let's take a situation where the U.S. government needs money. The U.S. doesn't just issue United States Notes, which, of course it could. These notes would be dollars backed by the full faith and credit of the United States. No, the U.S. doesn't issue dollars straight out of the U.S. Treasury. This is what the U.S. does - - it issues Treasury Bonds. The U.S. then sells these bonds to the Fed. The Fed buys the bonds. Wait, how does the Fed pay for the bonds? The Fed simply creates money "out of thin air" (book-keeping entry) with which it buys the bonds. The money that the Fed creates from nowhere then goes to the U.S. The Fed holds the U.S. bonds, and the unbelievable irony is that the U.S. then pays interest on the very bonds that the U.S. itself issued. (With great profit to the private owners of The Fed - - Ed. Note) The mind boggles. The damnable result is that the Fed effectively controls the U.S. money supply. The Fed is …not even a branch of the U.S. government. The Fed is not mentioned in the Constitution of the United States. No Constitutional amendment was ever created or voted on to accept the Fed. The Constitutionality of the Federal Reserve has never come before the Supreme Court. The Fed is a private bank that keeps the U.S. forever in debt - - or I should say in increasing debt along with ever rising interest payments. How did the Fed get away with this outrage? A tiny secretive group of bankers sneaked through a bill in 1913 at a time when many in Congress were absent. Those who were there and voted for the bill didn't realize (as so often happens) what they were voting for (shades of the shameful 2002 vote to hand over to President Bush the power to decide on war with Iraq)." Richard Russell, "Richards Remarks," dowtheoryletters.com, 3/27/2007 After President Wilson signed the Federal Reserve Act into law in 1913, he reportedly said, "I am a most unhappy man, I have unwittingly ruined my country…a great industrial nation is now controlled by its system of credit…the growth of the nation, therefore, and all of our activities are in the hands of a few men…" Certainly, an early statement about the threat to "democracy" occasioned by The Fed. Insightful economic forecaster Ian Gordon notes several negative consequences of the nearly 100-year reign of The Fed, consequences with which we cope today. "Since its inception in 1913, the Federal Reserve Board has been responsible for almost 95% devaluation of the U.S. Dollar. All this has been achieved through its ability to continually inflate the money supply. And, between 1985 and 2005, the Federal Reserve Board has increased the money supply by five times. This extraordinary money creation is merely the catalyst for debt creation. In a fiat money system, money is debt…there is absolutely no way this money can ever be repaid except by continued inflation. But, now that the credit bubble is blown up, inflation is no longer an option; bankruptcy looms." "The Federal Reserve…What Has It Done For You Lately? " Ian Gordon, 12/29/2007 (www.axisoflogic.com) To put it bluntly, the "devaluation" of which Gordon speaks is loss of Purchasing Power. Bottom line: The USA's and Eurozone Nations' ceding of authority to print their own currencies has been a massive and very costly step away from self-reliance. Such abdications of self-reliance not only have Negative consequences for Investors and Economies, but Negative consequences as well for Political and Personal Freedom. Best regards, Deepcaster November 7, 2012 Note 1: We encourage those who doubt the scope and power of Overt and Covert Interventions by a Fed-led Cartel of Key Central Bankers and Favored Financial Institutions to read Deepcaster's December, 2009, Special Alert containing a summary overview of Intervention entitled "Forecasts and December, 2009 Special Alert: Profiting From The Cartel's Dark Interventions - III" and Deepcaster's July, 2010 Letter entitled "Profit from a Weakening Cartel; Buy Reco; Forecasts: Gold, Silver, Equities, Crude Oil, U.S. Dollar & U.S. T-Notes & T-Bonds" in the 'Alerts Cache' and 'Latest Letter' Cache at www.deepcaster.com. Also consider the substantial evidence collected by the Gold AntiTrust Action Committee at www.gata.org, including testimony before the CFTC, for information on precious metals price manipulation. Virtually all of the evidence for Intervention has been gleaned from publicly available records. Deepcaster's profitable recommendations displayed at www.deepcaster.com have been facilitated by attention to these "Interventionals." Attention to The Interventionals facilitated Deepcaster's recommending five short positions prior to the Fall, 2008 Market Crash all of which were subsequently liquidated profitably. Note 2: Shadowstats.com calculates Key Statistics the way they were calculated in the 1980s and 1990s before Official Data Manipulation began in earnest. Consider Bogus Official Numbers vs. Real Numbers (per Shadowstats.com) Annual U.S. Consumer Price Inflation reported October 16, 2012 1.99% / 9.64% U.S. Unemployment reported November 2, 2012 7.9% / 22.9% U.S. GDP Annual Growth/Decline reported October 26, 2012 2.32% / -2.10% U.S. M3 reported October 16, 2012 (Month of September, Y.O.Y.) No Official Report / 3.32% Note 3: WTI Crude Oil is still bouncing just under $90/bbl even though U.S. Crude stockpiles are up over 8% from a year ago. And Gasoline has a $4 handle around most of the US. And Corn, Wheat, and Soybeans have $7, $8, and $15 handles today, and were at record highs even before the U.S. Drought. All these higher prices are mainly caused by The Force. And though our Forecast "Warning" a couple of weeks ago that a Cartel-generated Precious Metals Price Takedown was imminent, was correct, even The Cartel will not be able to prevail against The Force, for long. And while the recent Tech Takedown does confirm our earlier forecast that the Tech Bubble was going to burst, that bursting too is partially catalyzed by The Force. The Force is Here, Now, and it is Increasing, and it is time to profit from it. To consider The Force and how to profit from it, read Deepcaster's recent alert, "Profit from the Force, Now; Forecasts: U.S. Dollar/Euro, U.S. T-Notes, T- Bonds, & Interest Rates, Gold, Silver, Crude Oil, & Equities" in 'Alerts Cache' at www.deepcaster.com. Note 4: The $US dropped nearly 200 basis points at one point in the last four weeks. No surprise since the Fed's U.S. Dollar-Destructive Q.E. to Infinity Action, coupled with the ECB's Similar Action the week before, boosted the Euro vis-Ã -vis the Dollar, as we earlier Forecast. The very recent $US bounce does not change its weakening Trend. This Debauchery of the $US weakens its Purchasing Power and thus increases Burdens on the agonized disappearing Middle Class. The Bernanke claim that buying $40 billion per month in Mortgage Backed Securities would Stimulate the Economy and help the Housing Market is just a Fictitious Cover Story. In fact, it is just another Gift to the Mega-Banks who hold Underwater Paper, and to Wall Street which proceeded to rally on The Fed-sugared High. Both the Continuous Commodities Index which show Average Annual Price Inflation of 15% and the Real Inflation Number (9.3% per year from shadowstats.com) reveal Serious Inflation is with us and it Intensifying. And Especially Food Price Inflation. To increase Yields, Farmers increasingly employ Fertilizer. And a recent Reco – a Fertilizer Producer – was trading near its 52 week low at under 40¢ per share when we first recommended it. It has moved up nicely since we recommended you buy in. But it has such great potential that we raise our original "buy under" price to 45¢ per share. To see our recent Buy Reco aimed at Profiting from the Fed's Inflation Rocket, read Deepcaster's recent Alert, "Buy Reco (under 40¢/share) to Ride Inflation Rocket; Forecasts: U.S. Dollar/Euro, U.S. T-Notes, T- Bonds, & Interest Rates, Gold, Silver, Crude Oil, & Equities," recently posted in 'Alerts Cache', on deepcaster.com. |
| The Politicians We Have Chosen Reflect Who We Are As A Nation Posted: 08 Nov 2012 08:39 AM PST
What Barack Obama has pulled off is absolutely mind blowing. First of all, I must acknowledge that the Obama campaign had the best "ground game" in the history of American politics. Their ability to deliver their voters to the polls was absolutely amazing. Yes, the election was close, but I thought it would be much closer. The Obama "ground game" made a significant difference. Having said that, it says a lot about who we are as a nation that the American people would willingly send Barack Obama back to the White House for a second term. You could almost excuse the American people for having the wool pulled over their eyes the first time, but at this point American voters have had four years to evaluate Barack Obama and learn what he is all about. Barack Obama, like many of our politicians, is a con man. He just doesn't have a few skeletons in his closet - he has a whole army of them. Over the course of two presidential campaigns he has refused to release his school records, there are very serious irregularities concerning his Social Security number, and he has managed to keep vast stretches of his past a total secret to the American people. Anyone applying for a decent job or trying to get into a decent school would have been required to disclose more background information than Barack Obama has revealed to the American people. What Obama has pulled off is completely and totally absurd. I truly believe that Barack Obama will someday be regarded as one of the greatest con men of all time. But even setting all of that aside, the outrageous things that Barack Obama has publicly said and done should be more than enough for every American that loves the U.S. Constitution to reject him. The truth is that no American should have ever cast a single vote for him for any political office under any circumstances. And yet now he is headed for a second term in the White House, and now he will feel absolutely no accountability to the voters since he will not be running in 2016. He can do whatever he wants over the next four years, and nobody can do anything about it. Not that Mitt Romney would have been much different. Out of all of the Republican candidates, the Republicans selected the candidate that was most similar to Barack Obama. During primary season, in many of my articles I pleaded with the Republicans not to choose Mitt Romney. I warned that large numbers of very conservative voters would refuse to support him in the general election. I was horrified by how Romney treated Ron Paul and his supporters during the primaries. It turns out that Romney desperately could have used their help in swing states that Romney barely lost like Ohio, Virginia and Florida. In the end, Mitt Romney ran one of the most inept campaigns in modern American political history. Except for his one brief shining moment during the first debate, Romney just seemed to keep falling flat on his face over and over. He seemed to have absolutely no idea how to attack Obama's track record, and he kept shifting positions every five minutes. To be honest, his campaign was an embarrassment to the Republican Party. I know that a lot of Republicans are mourning today, but things would not have been much different under a Romney administration. Romney was perhaps the most liberal candidate the Republicans have ever nominated for president, and Obama and Romney were perhaps the two most similar candidates that we have ever seen run against each other on the national stage. The fact that the Republicans picked Mitt Romney says a whole lot about the Republican Party just like the fact that the Democrats picked Barack Obama says a whole lot about who they are. But let us not overlook the other choices that the American people made yesterday either. The U.S. Senate has been an abysmal failure for years, and yet the American people just keep voting for more of the same. If you can believe it, the U.S. Senate has not passed a budget in over 1,200 days. In fact, the last time the U.S. Senate passed a budget, there was no such thing as an iPad. But not only did the American people allow Democrats to keep control of the U.S. Senate, the Democrats actually gained a couple of extra seats, and several of the newly elected Senators are extremely liberal. And keep in mind that all of the new Senators that were elected yesterday will not be up for re-election until 2018. That is very frightening to think about. The funny thing is that the American people also gave the Republicans very firm control of the U.S. House of Representatives once again. It is almost as if they were saying that they want things to remain exactly the same as they are right now. So we can definitely expect more gridlock in Washington. And perhaps that is a small piece of good news to come out of all this. If we can get our politicians fighting with each other so much that they can't get anything done, perhaps they will have less of a chance of messing this country up even worse than it already is. This election season was the last, best chance that the American people had to bring about changes on the national level. Unfortunately, the Republicans, the Democrats and the American people all failed miserably in this regard. As far as the economy is concerned (after all, this is a column about economics), we will continue to steamroll toward collapse at record speed. It is now glaringly obvious that there will be no political solutions to our problems on the national level. So you better brace for impact, because a crash is coming. And I think we just got a preview of coming attractions. The Dow was down by more than 300 points on Wednesday. I wish that I could be more optimistic, but the truth is that there is no hope on the horizon on the national level. The American people have spoken, and they have made their choices. Now we all get to pay the price.
|
| The gold of the Bundesbank - Receipt trick reloaded? Posted: 08 Nov 2012 08:07 AM PST |
| Obama Victory: Increased Gold And Silver Storage In Zurich And Asian Capitals Posted: 08 Nov 2012 07:52 AM PST gold.ie |
| Election Results: Best of All Possible Worlds for Gold Posted: 08 Nov 2012 07:34 AM PST Positive price drivers and physical market fundamentals could form a "perfect storm" for gold in the closing weeks of 2012 – and, quite possibly, we could see the metal approach or even surpass its record high by year-end or early 2013. |
| Silver Update: Power Of Markets 11.7.12 Posted: 08 Nov 2012 07:12 AM PST |
| SilverFuturist: SLV Does Contain Physical Silver Posted: 08 Nov 2012 07:10 AM PST |
| Booms and Busts of the Gold Standard Era Posted: 08 Nov 2012 07:00 AM PST |
| Jim Willie (Part 2): the rush for physical gold is on Posted: 08 Nov 2012 06:30 AM PST Statistical analyst and newsletter writer Jim Willie of GoldenJackass.com talks to GoldMoney's Alasdair Macleod about the increasing transfer of wealth from Western countries to their Eastern counterparts, and the hugely bullish picture for silver at the moment. The huge flow of gold from West to East is evidence of this wealth transfer. Willie also talks about plans by Germany, China and Russia to create an alternative payment system to replace the US dollar in multilateral trade. According to Willie it is going to be gold-based and will be peer-to-peer — eliminating many sources of profit that currently exist for banks. He also points to increasing talk from certain influential people about the possibility of a renewed gold standard. Willie sees big outflows of gold from London to China, with 5,000 tonnes leaving London from March to mid-June according to his source. As banks are desperately looking for physical gold official reserves might be seen as a tempting source. He senses a scandal were such gold has been replaced with gold certificates to satisfy physical demand.* In his view, Fort Knox likely does not hold the gold that it is claimed exists there. On the subject of silver, Willie expects the white metal to outperform gold threefold once the prices of both metals start rising. Stockpiles have been used up over recent decades, but the monetary and industrial demand for silver is continuously increasing, painting a very bullish picture for the metal. This podcast was recorded on 3 November 2012. *NB: When Jim refers to the coming "allocated gold scandal", he is referring to allocated gold stored at banks. Please note that metal stored in GoldMoney vaults is not stored with banks, and is not loaned out. See the following Frequently Asked Question for information on how you can be sure that metal stored with GoldMoney is safe. How can I be assured that my precious metals are really in the vault? There are several important checks and balances in GoldMoney that protect each customer's metal. We work closely with our partners to ensure that GoldMoney's transaction and accounting system is reliable and secure, and that all the metal is stored safely for our customers. Your metals are always stored in the vaults owned and operated by VIA MAT, Brink's, Rhenus and G4S. Every quarter, full reports by these companies and a Big Four Accounting firm, which reviews a wide variety of our controls and procedures and provides proof of the 1-to-1 ratio of metal held in the vaults and metal recorded in our database, are presented on our website and within your verified GoldMoney Holding. from goldmoneynews: ~TVR |
| Keiser Report: Triple-Dip Recession Nightmare Posted: 08 Nov 2012 06:27 AM PST In this episode, Max Keiser and Stacy Herbert discuss Goldfinger at the New York Fed in Lower Manhattan where Germany's gold did not dissolve in the Hurricane Sandy floods, but $13 trillion in paper assets did. They also discuss Treasury secretaries and Goldman CEOs as the stuff of nightmares. In the second half, Max Keiser talks to Ned Naylor-Leyland about Germany's gold, JP Morgan's shorts and Bart Chilton's 'investigation.' from russiatoday: ~TVR |
| Greg: Crude Oil Is Black Gold. Posted: 08 Nov 2012 06:20 AM PST |
| John Hathaway talks with King World News Posted: 08 Nov 2012 06:17 AM PST John Hathaway talks with King World News
John Hathaway: Senior Managing Director & Portfolio Manager, Tocqueville Funds – John Hathaway has four decades of market experience and is known internationally for his writings about the U.S. economy, gold, silver, commodities and much more. John's fund has been one of the top performing funds in the world for quite some time and was just awarded a 5-star rating by Morningstar. He is one of the most respected institutional minds in the world today regarding gold. Degrees from Harvard, University of Virginia and is a CFA charter holder. Listen to the Interview Now @ kingworldnews.com |
| What You Need To Know About The Coming Gold & Silver Move Posted: 08 Nov 2012 06:15 AM PST
from kingworldnews.com: Today acclaimed money manager Stephen Leeb told King World News, "Usually I'm not surprised by anything I see in these markets, but yesterday when gold was up over $30, I was a bit surprised. Even with the market action today, it's very clear that the market realizes that money is going to remain very easy." Stephen Leeb continues: "My advice is if we get a dip in gold, I would buy that dip. Gold has a lot of support. I think long-term and that's a bet that I'm always willing to make. I haven't sold a single ounce of gold or a single share of a gold stock. That is because I am positioning and I am thinking about the long-term. Keep on reading @ kingworldnews.com |
| Hathaway: Gold Setup To Super-Surge To New All-Time Highs Posted: 08 Nov 2012 06:14 AM PST
from kingworldnews.com: Today John Hathaway spoke with King World News about his belief that gold is now setup to surge to new all-time highs. The four decade veteran and prolific manager of the Tocqueville Gold Fund also believes gold will do so in very dramatic fashion. Here is what Hathaway had to say: "We had a nice run-up from late August into early October. I certainly feel we have broken the downtrend that started August of 2011, and I believe what is going on now is just backing and filling to cement the platform for the next leg in the bull market." John Hathaway continues: "But I do think when the (gold) market is ready, and I think it's setting up to be ready, it's not just going to creep higher. It's going to go through these resistance levels the technicians talk about with a great deal of power…. Keep on reading @ kingworldnews.com |
| This Is How Gold & Silver Will Fare If Stocks Are Crushed Posted: 08 Nov 2012 06:12 AM PST
from kingworldnews.com: Today Tom Fitzpatrick spoke with King World News about what to expect going forward from gold, silver, the US dollar, the euro, bonds and stocks. Fitzpatrick has been astonishingly accurate in forecasting the movements of both gold and silver. Now Fitzpzatrick lets KWN readers know what to expect from stocks, bonds and the currencies, as well as the metals. Here is what top Citi analyst Fitzpatrick had to say, along with some powerful charts: "We still have the overall view that this up-move we saw on the Dow, which was just short of 13,700, is very similar to the up-move we saw after the fall in 1973/74. Also, we have two very important support levels on the VIX, which when we've looked back over the past five years, has been a good indication that we will see a strong up-move in the VIX, and by definition a strong down-move in the equity markets. We may have seen the start of that today (see chart below). Keep on reading @ kingworldnews.com |
| Northern Tiger Resources Identifies New Gold Anomaly at Korat Project in Yukon's White Gold District Posted: 08 Nov 2012 05:27 AM PST November 8, 2012: Northern Tiger Resources Inc. ("Northern Tiger" or the "Company") (NTR: TSX-V) is pleased to provide an update on its Korat Project in the White Gold District. An 800-metre long gold-in-soil anomaly has been identified within a larger 1,600-metre long pathfinder element anomaly. The Korat anomaly features a similar pathfinder geochemical suite and straddles the same prominent regional magnetic high feature that is closely associated with both Kinross Gold Corporation's ("Kinross") Golden Saddle deposit and Comstock Metal Ltd.'s ("Comstock") new QV discovery, where recent drilling has returned results up to 2.3 g/t gold over 89.9 metres. Government regional scale mapping indicates that the northern half of Korat is underlain primarily by a metasiliclastic package and the southern half by orthogneiss, which is one of the primary hosts of mineralization at both Golden Saddle and Comstock's QV discovery. Only limited property scale mapping has occurred due to lack of outcrop, but additional rock units identified on the property by Company geologists include both amphibolite (also hosts mineralization at Golden Saddle) and feldspar porphyry (porphyry dikes reported in QV drilling). This News Release has been reviewed and approved by Dennis Ouellette, B.Sc., P.Geol., a Qualified Person as defined by NI 43-101. All rock and soil samples were analyzed by ALS Chemex of North Vancouver, British Columbia. Rock samples were analyzed using 50 gram fire assay and 48 element ICP analysis. Soil samples were analyzed using 25 gram aqua regia digestion and 51 element ICP analysis. Northern Tiger Resources Inc. (NTR: TSX-V) is a Canadian-based resource exploration company focused on gold and copper exploration in the Yukon, where it has a strong portfolio of projects. Drilling at the Company's flagship 3Ace Project in southeast Yukon has intersected up to 4.6 g/t gold over 35.0 metres (including 106.2 g/t gold over 1.0 metre). The Sonora Gulch copper-gold-silver porphyry project in central Yukon has also returned significant drill results, including 0.45 g/t gold and 3.0 g/t silver over 234.0 metres. November 8, 2012 (Source: Northern Tiger Resources, Inc.) Disclosure: Northern Tiger Resources is a Vulture Bargain Candidate of Interest (VBCI) and is our fully fledged Vulture Bargain #7. Members of the GGR team are actively accumulating and hold long positions in NTR.V or NTGSF. |
| Precious Metals Storage Increases In Zurich & Asia Posted: 08 Nov 2012 05:22 AM PST Robust investment demand continues and may intensify after the election and exchange traded products backed by gold attracted $2.5 billion of inflows in October alone.Total inflows in commodities ETPs were $3.1 billion last month. |
| Gold is 'Living Up to Safe Haven Reputation' Posted: 08 Nov 2012 05:07 AM PST Spot market gold prices hovered just below $1,720 an ounce Thursday morning in London – 2.4% up on last week's close – while stocks recovered some ground and the dollar ticked higher as central banks in the UK and Europe left monetary policy unchanged. |
| Perched on Mining's Knife Edge with Jay Taylor Posted: 08 Nov 2012 03:34 AM PST Rampant debt, credit deflation and impotent monetary policies are fueling a bull market for gold and gold equities according the editor and publisher of J. Taylor's Gold, Energy & Tech Stocks. |
| John Hathaway: Gold Set to Super-Surge to New All-Time Highs Posted: 08 Nov 2012 03:07 AM PST ¤ Yesterday in Gold and SilverWhat little gains that had accrued during the Far East and London trading session had all but disappeared by the time that New York opened on Wednesday morning. The rally that began shortly after trading began on the Comex, wasn't allowed to go far...and from that point, the gold price got sold down to its low of the day, which was $1,702.30 spot. The low tick came at 11:00 a.m. virtually right on the button...and the subsequent rally ran out of gas about 2:45 p.m. in the New York electronic market. From there it got sold down a few dollars into the 5:15 p.m. close. Gold finished the Wednesday trading day at $1,717.30 spot...up 40 cents on the day. Net volume in early London trading, which I had mentioned in 'The Wrap' in yesterday's column, was an off-the-charts 65,000+ contracts when I hit the 'send' button on Wednesday's column at 5:20 a.m. Eastern time yesterday morning. The closing gross volume for Wednesday was an astonishing 306,070 contracts...with net volume checking in around 225,000 contracts. Under no circumstance would one consider this to be normal trading volume...especially considering the small intraday price changes. I'll have more on this in 'The Wrap'.
What I said about the gold price action above, could be directly applied to the silver price action on Wednesday as well. The gold and silver charts are virtual carbon copies of each other. Silver closed at $31.84 spot...down 18 cents from Tuesday's close. Silver's volume was sky high as well during the entire Wednesday trading session all over Planet Earth. Gross volume was an astonishing 77,047 contracts...and net volume was very chunky at 53,603 contracts. This wasn't normal price/volume action either. Like gold, I have my suspicions about what may be happening...and I'll talk about it 'The Wrap' as well.
As I mentioned in 'The Wrap' in yesterday's column, the dollar index tanked by 40 basis points on the Obama election news in late morning Far East trading on their Wednesday...but began to recover strongly from that low about 3:30 p.m. Hong Kong time...about thirty minutes before the London open. By 8:00 a.m. in New York, the dollar index had gained 60 basis points from its low tick in the Far East. From its 8:00 a.m. 80.90 high tick, the index got sold down 10 basis points...and then traded almost ruler flat going into the close. The index closed at 80.81...up 18 basis points from Tuesday's close. Even a cursory glance indicates that there was absolutely no relationship between the dollar index and the precious metal prices yesterday...especially during the Comex trading session.
The gold shares pretty much followed the gold price in the early going...with the low in the shares coming just a minute or two before 11:00 a.m. Eastern time...the low price tick for gold yesterday. After that, the shares chopped higher...and moved back into positive territory. Then, starting at 2:00 p.m. in New York, a strong buyer showed up...and the shares moved solidly higher from there, right into the close...almost without a break. Despite the fact that the general equity markets got killed, the HUI finished up 1.83%...almost on its high tick of the day.
Despite the fact that the silver price finished down, most of the silver stocks finished in positive territory...and Nick Laird's Silver Sentiment Index closed up 0.84%.
(Click on image to enlarge) The CME's Daily Delivery Report showed that only 4 gold and 10 silver contracts were posted for delivery within the Comex-approved depositories on Friday. An authorized participant added 87,207 troy ounces of gold to GLD yesterday...and there were no reported changes to SLV. Based on this information, it's pretty obvious that last Friday's price smash in both gold and silver was a 100% paper affair on the Comex...as it almost always is. The U.S. Mint had a tiny sales report. They sold another 50,000 silver eagles...and that was it. The Comex-approved depositories reported receiving 1,203,658 troy ounces of silver on Tuesday...and also shipped 283,338 ounces of the stuff out the door. Virtually all of the activity involved the Brink's, Inc. depository...and the link to the action is here. Three readers that I know of [Marvin Wieler, Eric Gould, Normand Bedard and Cave Caron] were kind enough to e-mail the CEO of Scotiabank, Mr. Rick Waugh...and they got the same non-answer canned response from Mr. Dave Shearim that I got, namely... Dear Mr. Wieler, Telephone: (416) 933-1700 or (877) 700-0043 Although it's obvious that the truth won't be forthcoming from the Bank of Nova Scotia/Scotia Mocatta any time soon...if at all...at least they are aware of the fact that large numbers of people are now on to them. I thank everyone who took the time to write in and make their opinions known. Normally I would have a chart from Nick Laird at this point...but instead of that, Nick sent me a series of photos of a female Yellow-bellied Sunbird building her nest hanging from the Christmas lights on the verandah of Nick's house. Living in Canada, it's hard for me to associate spring with the Christmas season...but south of the equator, that's what happens. Here are five photos that track the bird's progress over the three days it took to construct the nest. The fifth shot shows the male supervising from a safe distance.
(Click on image to enlarge)
(Click on image to enlarge)
(Click on image to enlarge)
(Click on image to enlarge)
(Click on image to enlarge) I don't have a lot of stories today...and the first four are reactions to Obama's victory yesterday. It was a bit of a strange day price wise...but underneath it all was volume so monstrous that it took my breath away. Despite rising prices, gold holds the glitter in India. Dr. Stephen Leeb: What You Need to Know About the Coming Gold & Silver Move. GLD reports that an authorized participant added 87,207 ounces of gold yesterday. ¤ Critical ReadsSubscribeDr. Marc Faber: Obama Is A Disaster, The Stock Market Should Have Fallen 50 Percent"I am surprised with the re-election of Mr. Obama. The S&P is only down like 30 points. I would have thought that the market on his reelection should be down at least 50%...I think Mr. Obama is a disaster for business and a disaster for the United States. Not that Mr. Romney would be much better, but the Republicans understand the problem of excessive debt better than Mr. Obama who basically doesn't care about piling up debt. You also have in the background Mr. Bernanke, who with artificially low interest rates enables the debt to essentially escalate endlessly." No shades of grey in this Bloomberg TV "Street Smart" interview yesterday. It runs for 10:42 minutes...and I thank Roy Stephens for our first story of the day. The link is here.  Jim Rogers: Get Ready for Cheap Money 'Run Amok'Investors should prepare for rising prices and more expansionary monetary policy now that President Barack Obama has won re-election, investor Jim Rogers told CNBC on Tuesday. Just moments before Obama was projected to prevail in his bid for a second term against Republican challenger Mitt Romney, Rogers sharply repudiated both candidates, calling them both "evil". "If Obama wins, it's going to be more inflation, more money printing, more debt, more spending." Rogers told CNBC, saying he expected to sell U.S. government debt and buy precious metals, such as gold. "It's not going to be good for you me or anybody else." This CNBC story was posted on their website in the wee hours of Wednesday morning...and I thank Roy Stephens for his second offering in a row. The link is here.  Paul Craig Roberts: The Special Interests Won AgainThe election that was supposed to be too close to call turned out not to be so close after all. In my opinion, Obama won for two reasons: (1) Obama is non-threatening and inclusive, whereas Romney exuded a "us vs. them" impression that many found threatening, and (2) the election was not close enough for the electronic voting machines to steal. As readers know, I don't think that either candidate is a good choice, or that either offers a choice. Washington is controlled by powerful interest groups, not by elections. What the two parties fight over is not alternative political visions and different legislative agendas, but which party gets to be the whore for Wall Street, the military-security complex, Israel Lobby, agribusiness, and energy, mining, and timber interests. Being the whore is important, because whores are rewarded for the services that they render. To win the White House or a presidential appointment is a career-making event as it makes a person sought after by rich and powerful interest groups. In Congress the majority party can provide more services and is thus more valuable than the minority party. One of our recent presidents who was not rich ended up with $36 million shortly after leaving office, as did former UK prime minister Tony Blair, who served Washington far better than he served his own country. Always controversial, but not far off the mark, is this offering from Mr. Roberts that was posted on his website yesterday sometime. I thank reader Rob Bentley for sending it...and I consider it a must read. The link is here.  Pepe Escobar...Asia Times...Barry Obama rides againSo he's done it. Way beyond demographics, the ground game, getting the turnout, the micro-targeting of voters, the worries about suppression of black and Hispanic early voters in Ohio and Florida, and over 55% of women voting for him, Barack Obama inherits his second term to try to (re)project at least a measure of the vanished American dream across a deeply, profoundly, divided country (with the popular vote virtually tied at 49%; not to mention the 90 million Americans who did not even bother to vote). So what next? In a perfect world, wishful thinking rules; Obama should give all he's got to build a US geared towards more tolerance, social justice and equality. That is far from given. As for the world at large, will Obama finally have the cojones to really address the Palestinian tragedy; carry a stick - and not carrots - to those anti-democratic Persian Gulf petro-monarchies; engage in a meaningful "reset" with Russia; think twice about his multiple shadow wars; not turn the "pivoting" to Asia into the preamble of a war against China; and seal a deal with Iran? Well, Barry, now there's no excuse. This story, filed from Las Vegas, was posted on the Asia Times website early on Thursday morning in Hong Kong. I thank Roy Stephens for bringing it to our attention...and the link is here.  Treasury Quietly Warns: 'Expect Debt Limit to Be Reached Near End of 2012'The U.S. Treasury quietly warned at the end of a statement issued last Wednesday that it expects the federal government to hit its legal debt limit before the end of this year--which means before the new Congress is seated--and that "extraordinary measures" will be needed before then to keep the government fully funded into the early part of 2013. On Aug. 2, 2011, President Obama signed a deal he had negotiated with congressional leaders to increase the debt limit of the federal government by $2.4 trillion. But, now, after only 15 months, almost all of that additional borrowing authority has been exhausted. This must read story was posted on the cnsnews.com Internet site on Tuesday...and I thank reader Bruce McLean for sending it to me. The link is here.  Karl Denninger: Watch for Market DislocationsKarl Denninger...author of The Market Ticker was one of 28 financial luminaries who offered timely market commentary at the Navigating the Politicized Economy Summit last September in Carlsbad, California. And as Louis James says in his introductory paragraph..."he has a very different way of looking at things than Doug and I do, but still comes to some similar conclusions regarding the US economy and how to invest. Perhaps precisely because he has such a different frame of reference, I found this to be one of the more striking conversations I had at the Summit." This 32-minute video interview was embedded in yesterday's edition of Conversations With Casey...and the link is here.  Angst returns on German recession fears and U.S. fiscal cliffStock markets skidded across the world and investors retreated to safe-haven assets on fears that Europe's festering crisis has spread to Germany and a bitterly-divided Washington may struggle to avert a fiscal crisis. Mario Draghi, the European Central Bank' |
| Jim Rogers: Get Ready for Cheap Money 'Run Amok' Posted: 08 Nov 2012 03:07 AM PST  Investors should prepare for rising prices and more expansionary monetary policy now that President Barack Obama has won re-election, investor Jim Rogers told CNBC on Tuesday. Just moments before Obama was projected to prevail in his bid for a second term against Republican challenger Mitt Romney, Rogers sharply repudiated both candidates, calling them both "evil". "If Obama wins, it's going to be more inflation, more money printing, more debt, more spending." Rogers told CNBC, saying he expected to sell U.S. government debt and buy precious metals, such as gold. "It's not going to be good for you me or anybody else." |
| Despite rising prices, gold holds the glitter Posted: 08 Nov 2012 03:07 AM PST  Gold prices may fluctuate, but the country's love for the yellow metal does not seem to diminish. The nearly 30 per cent rise in price of the precious metal over the last year has not kept customers away, according to metal major MMTC Ltd. The company expects its annual exhibition-cum-sale, Festival of Gold, which was inaugurated on November 2, to notch up sales of Rs 50 crore by the close of the event on November 11 – equal to last year. "Already in three days sales have touched Rs 15 crore," Rajender Prasad, General Manager of MMTC, said, while adding, "We are getting very good response right through the year." However, sales peak during the auspicious Akshaya Tritiya and Diwali, he claimed. |
| Posted: 08 Nov 2012 03:07 AM PST  The first is with John Hathaway...and it's headlined "Gold Set to Super-Surge to New All-Time Highs". Next is Dr. |
| Angst returns on German recession fears and U.S. fiscal cliff Posted: 08 Nov 2012 03:07 AM PST  Stock markets skidded across the world and investors retreated to safe-haven assets on fears that Europe's festering crisis has spread to Germany and a bitterly-divided Washington may struggle to avert a fiscal crisis. Mario Draghi, the European Central Bank's president, warned that Germany is no longer insulated from the slump in southern Europe. "The latest data suggest that these developments are now starting to affect the German economy," he said, triggering an immediate sell-off on Europe's bourses and pushing the euro down to almost $1.27 against the dollar. |
| You are subscribed to email updates from Gold World News Flash 2 To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |
No comments:
Post a Comment