Friday, October 11, 2013

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saveyourassetsfirst3


European central bank gold sales lowest since 1999 accord

Posted: 11 Oct 2013 08:11 AM PDT

According to data from the World Gold Council, European central banks sold 5.1 metric tons of gold in the fourth year of an accord that originated in 1999.

Moscow Exchange plans gold/silver trading to broaden appeal

Posted: 11 Oct 2013 07:59 AM PDT

Most metals trading in the country takes place via the over-the-counter market, which is dominated by Russia's biggest banks.

Paper tigers leave Gold in the lurch, India monsoon cheer up markets

Posted: 11 Oct 2013 06:38 AM PDT

Jeff Nichols, precious metals economist and Managing Director of American Precious Metals Advisors has pointed out in his latest outlook on Gold that "a small number of institutional investors and large-scale speculators trading in “paper” markets have continued to weigh gold down despite the strength of demand in “physical" markets.

Silver Forecast October 11, 2013, Technical Analysis

Posted: 11 Oct 2013 02:10 AM PDT

fxempire

Gold Forecast October 11, 2013, Technical Analysis

Posted: 11 Oct 2013 01:55 AM PDT

fxempire

Gold Price Analysis- Oct. 11, 2013

Posted: 11 Oct 2013 01:55 AM PDT

dailyforex

Monthly Gold chart with overlaid Yen/$USD cross

Posted: 11 Oct 2013 01:50 AM PDT

goldseek

Analysts List Chart Levels Where Gold Could Gain Momentum

Posted: 11 Oct 2013 01:35 AM PDT

forbes

LNG Exports: The $35 Billion Bull Invading Canada

Posted: 10 Oct 2013 11:10 PM PDT

In a remarkable interview with The Energy Report, Jason Sawatzky reveals the hottest new thing happening in the North America oil exploration and production space: the rush by major oil and gas firms to build LNG export facilities on Canada's West Coast. The AltaCorp Capital analyst points out that major oil and gas firms are not the only way to play west coast LNG development, and investors should look very closely at Canadian oilfield services. The capital flowing into west coast LNG is pumping up growth in the oilfield services industry too, with plenty of black gold to spread around.

The Energy Report: Jason, how will the rush to export West Coast liquefied natural gas [LNG] affect the Canadian oilfield services space?

Jason Sawatzky: There is no other oilfield services market in the world right now that has growth in front of it like Canada does, thanks

Moscow exchange plans deliverable gold and silver trading

Posted: 10 Oct 2013 10:01 PM PDT

GATA

The case for Gold

Posted: 10 Oct 2013 10:00 PM PDT

Mises.org

Costco Earnings Analysis: Faster Growth?

Posted: 10 Oct 2013 09:47 PM PDT

Costco Wholesale Corporation (NASDAQ:COST) and Family Dollar Stores, Inc. (NYSE:FDO) both reported earnings this week. The Retail-Discount Stores industry has seen a one-year return of 29.89% while the Cyclical Consumer Goods sector in general has risen 37.9%. Yesterday, Costco's management discussed its F4Q 2013 results; Richard Galanti, EVP and CFO highlighted that Costco's rotisserie chicken (over 60 million sold a year), priced at under $5, leaves the company with a very low margin but a lot of a positive press. In Galanti's words, "we do better when we're reducing prices and driving business and overall that's good for us better than others."

We analyze Costco's preliminary financial results for the year ended 2013-08-31. Our analysis is based on the company's performance over the last twelve months (unless stated otherwise) and is relative to its peers. See the end of this post for the peer set we used.

the Gold Standard

Posted: 10 Oct 2013 09:00 PM PDT

Golden Sextant

Currency Wars author Jim Rickards says Janet Yellen comes with a helicopter to drop money

Posted: 10 Oct 2013 07:27 PM PDT

You can rely on Janet Yellen to be a money printer at the Federal Reserve says Currency Wars author Jim Rickards speaking to Lauren Lyster on Yahoo! Finance TV. Ben ‘helicopter’ Bernanke has a worthy successor but this ‘probably won’t work’ in stimulating the economy.

Jim Rickard’s endgame has gold heading to $7,500-10,000 an ounce in a desperate re-setting of the dollar that will save the US economy. Presumably Janet Yellen will have resigned in disgrace by then…

Abnormal Normalcy

Posted: 10 Oct 2013 04:30 PM PDT

There's nothing normal about today's financial world; in my view, the most corrupt of ALL TIME.  Clearly, technology and deregulation are the main causes – as the "financial engineering" and "TBTF" bank culture following repeal of the Glass-Steagall Act in 1999 has enabled bankers to commandeer financial markets.  Fortunately, they still can't manufacture PHYSICAL gold and silver; but they sure as heck can produce unlimited shares of miners, ETFs, and other derivative products – as well as unlimited funds to purchase stocks, bonds, and other "favorable" asset classes.

This is why gold suddenly ran into a 600,000 ounce sell order at the COMEX open – just after MASSIVELY PM-bullish jobless claims data emerged; why a justifiably tanking Treasury market suddenly saw "blistering demand" for its most risky asset; or why, at EXACTLY 3:00 PM EST, stocks suddenly exploded higher, while gold and silver – sitting just below their currently "lines in the sand" at $1,300/oz. and $22/oz., respectively – suddenly plunged

24hr Gold 10-10 353

Yes, today's virulent version of "normalcy bias" is killing quadrillions of brain cells; including the few that still remain in the mainstream investing world.  "William Kaye," a portfolio manager that King World News seems to support, for spouting the same portfolio manager drivels. First of all, he didn't "predict" gold takedowns any more than I have a thousand times before.  And secondly, in referring to gold as an "investment" – rather than money – he is scaring people from PROTECTING themselves from the inevitable collapse of the global fiat Ponzi scheme.

He is 100% correct in that "people who position themselves at prices such as we are seeing today are going to be extremely happy."  That is, if "happiness" is measured by the price of gold.  I ASSURE you, when the Cartel starts to lose control – and prices soar – it will NOT be because of a favorable "investment climate"; but instead, the beginning of a terrifying END GAME yielding significantly lower standards of living and draconian government actions.  Thus, I urge you to NOT succumb to the "abnormal normalcy bias" infecting the majority of global denizens.  Think for yourself, and make decisions your gut tells you are right.  Most importantly, make them before it's too late.Similar Posts:

[KR508] Keiser Report: When US backed cartel controls meth trade

Posted: 10 Oct 2013 03:45 PM PDT

We discuss the preference for pink slime in economics, finance, education and politics. They look at the booming crystal meth market in America where the ‘shake and bake’ players are small time compared to the single US backed cartel controlling the trade. And how derivatives are the crystal meth of the financial markets. In the second half, Max interviews Jan Skoyles of The Real Asset Company about the report she co-authored, “Uncovering China’s Rush for Gold,” about China’s Gold Market, the ‘real’ size of China’s reserves and what Janet Yellen at the Fed will do for gold.

Why Relative Strength Analysis is Important

Posted: 10 Oct 2013 03:44 PM PDT

Relative Strength is a simple concept in technical analysis. Its essentially the comparison between two different securities or markets. In most cases, its the comparison between one stock to its sector or the market averages. With respect to precious metals, there are numerous comparisons one can make. These include comparing a stock to the sector, a stock to the metals and a stock to the broad market. Often times we like to compare the gold stocks to gold and the silver stocks to silver. We can also compare gold and silver to the market averages, bonds or commodities. There is no limit to the comparisons one can make. Relative strength should be important to investors and traders because one wants to be invested in the leaders while avoiding the laggards and losers.

Let me provide a few examples with respect to precious metals. Silver stocks were a strong leader in 2010 and into spring 2011 while many gold stocks peaked at the end of 2010. Conversely, silver stocks were a disaster for the rest of 2011 and remained well off their highs in 2012. Yet, more than a handful of gold stocks reached new highs in late 2011 and a year ago when Gold rebounded to $1800. Junior exploration stocks performed fantastically in 2009 and 2010. Yet, even when Gold hit $1800 last year and some gold stocks reached new highs, the Canadian Venture exchange was 45% off its highs.

Relative strength is always important but its especially important now for two reasons.

First, the precious metals complex has arguably been in a long bottoming process for more than five months. We've argued that we can expect some type of retest this month and possibly a rebound into the end of the year. Whether it takes one month or three months, it doesn't change that we are in a bottoming process. One wants to own the strongest stocks. Try to identify the stocks that have shown strength and outperformed during the past five months. The key is to buy those types of stocks on weakness (such as a sector retest of the lows). These stocks have a strong chance to accelerate first when the sector completes its bottom.

Second, use relative strength to identify and avoid the laggards. This is extremely important as many mining and exploration stocks can decline continuously and precipitously. Remember, these are not real businesses. Buying a weak stock on the dip is not a good strategy. Individual gold and silver stocks can fall 95% or even to 100%. Also, relative weakness can portend to a future problem or negative event.

On Wednesday, a highly-regarded NYSE listed development company plunged about 30%. This is a company we liked but called a sell weeks ago. The stock had started to perform badly (after being a leader) and the weekly chart showed heavy distribution. Also, highly-regarded geologists (legitimate and credentialed I'd add) voiced some skepticism about the project. I don't know how this situation plays out but relative strength analysis gave us a clear warning of what was to come.

If you haven't already, please incorporate relative strength analysis into your repertoire. It's only one tool but its a useful tool. It will help you avoid laggards and losers and keep you in companies that are market leaders. This is true for precious metals and for any sector. As this bottoming process in precious metals moves to its final stages, readers are advised to identify the companies with the best fundamentals and growth potential that are showing relative strength. Focus on the leaders and avoid the laggards. If you'd be interested in our analysis on the companies poised to lead this new bull market, we invite you to learn more about our service.

 

Good Luck!

 

Jordan Roy-Byrne, CMT

Jordan@TheDailyGold.com

oct 10/GLD falls again to 896.38 tonnes/comex dealer gold remains constant/another gold/silver raid

Posted: 10 Oct 2013 03:19 PM PDT

What Ron Paul just said about the death of the U.S. dollar

Posted: 10 Oct 2013 02:21 PM PDT

From Casey Research:
 
I spent the past weekend in Tucson for the Casey Research 2013 Summit, indeed a memorable and information-packed experience. It was truly a pleasure to meet with everyone who joined us.
 
Notably, it was extremely encouraging to meet so many intelligent people who had taken concrete steps to internationalize their savings and obtain a second passport -- and thus reducing their exposure to whatever happens in their home countries.
 
Doug Casey kicked things off with a look at the striking parallels between the rise and fall of Rome and the rise and fall of the U.S...
 
At the Summit I also had the chance to do something that I had wanted to do for a long time -- sit down with Ron Paul for an informal (but in-depth) discussion on what I believe to be his most important speech.
 
It is a speech that many, even most libertarians, have never heard. This is because it occurred in 2006, before Ron had really broken through on the national level, and during an otherwise dull session of Congress.
 
The speech is titled "The End of Dollar Hegemony" and discussed the breakdown of the Bretton Woods system -- which most people know about -- and the de facto system that replaced it -- which most people do not know about. This speech is an absolute must-view you can watch it or read a transcript of it.
 
The most important part of the speech is...
 
 
More on the U.S. dollar:
 
 
 

This surprising chart says silver could be starting a long-awaited "breakout"

Posted: 10 Oct 2013 02:21 PM PDT

From Andrew Thrasher:
 
Silver has been one of those assets that has burned traders for most of 2013. Like many commodities, it has drifted lower as investors fled metals in favor of equities.
 
Well with yesterday's strong move, we may be seeing early signs of a trend change in the silver market.
 
Below is a daily chart of the spot price of silver. Looks pretty ugly, doesn't it?
 
In the top panel, we have the Relative Strength Index (RSI), which has been in a bearish range from February through July. We can see that momentum...
 
 
More on silver:
 
 
 

Must-see: Forgotten quote from 1997 makes a controversial "End of America" prediction

Posted: 10 Oct 2013 02:21 PM PDT

From Liberty Blitzkrieg:
 

An impasse over the federal budget reaches a stalemate. The president and Congress both refuse to back down, triggering a near-total government shutdown. The president declares emergency powers. Congress rescinds his authority. Dollar and bond prices plummet. The president threatens to stop Social Security checks. Congress refuses to raise the debt ceiling. Default looms. Wall Street panics.

 

- From The Fourth Turning by William Strauss and Neil Howe published in 1997

 
I have covered the incredibly prescient book The Fourth Turning for many, many years now.
 
I had forgotten about the above quote, which is extraordinarily timely given what is happening at the moment.
 
Like many Americans, up until now I have considered the current government shutdown and potential debt ceiling breach as importantly politically, but not likely to catalyze the ultimate financial chaos...
 
 
More on the "End of America":
 
 
 

What Ron Paul Told Me About the End of Dollar Hegemony

Posted: 10 Oct 2013 02:03 PM PDT

I spent the past weekend in Tucson for the Casey Research 2013 Summit, indeed a memorable and information-packed experience. It was truly a pleasure to meet with everyone who joined us.

Notably, it was extremely encouraging to meet so many intelligent people who had taken concrete steps to internationalize their savings and obtain a second passport—and thus reducing their exposure to whatever happens in their home countries.

Doug Casey kicked things off with a look at the striking parallels between the rise and fall of Rome and the rise and fall of the US.

In a way, Doug reminded me of the video below, which I stumbled across recently and which I highly recommend that you view. It shows, in a little over three minutes, how the borders of Europe have changed over the past 1,000 years.

It is an amazing and concise illustration of how, contrary to popular opinion, the borders of political entities are anything but permanent. In a historical perspective, nations and national boundaries tend to have as much permanence as a double cheeseburger placed in front of Chris Christie.

It is for this reason (and many others) that I believe you should internationalize various aspects of your life and not totally bind your future to any particular nation-state.

At the Summit I also had the chance to do something that I had wanted to do for a long time—sit down with Ron Paul for an informal (but in-depth) discussion on what I believe to be his most important speech.

It is a speech that many, even most libertarians, have never heard. This is because it occurred in 2006, before Ron had really broken through on the national level, and during an otherwise dull session of Congress.

The speech is titled “The End of Dollar Hegemony” and discussed the breakdown of the Bretton Woods system—which most people know about—and the de facto system that replaced it—which most people do not know about. This speech is an absolute must-view you can watch it or read a transcript of it.

The most important part of the speech is when Paul discusses the petrodollar system, a primary factor in maintaining the dollar’s role as the world’s premier currency after the breakdown of Bretton Woods.

“It all ended on August 15, 1971, when Nixon closed the gold window and refused to pay out any of our remaining 280 million ounces of gold. In essence, we declared our insolvency and everyone recognized some other monetary system had to be devised in order to bring stability to the markets.

Amazingly, a new system was devised which allowed the US to operate the printing presses for the world reserve currency with no restraints placed on it—not even a pretense of gold convertibility, none whatsoever! Though the new policy was even more deeply flawed, it nevertheless opened the door for dollar hegemony to spread.

Realizing the world was embarking on something new and mind-boggling, elite money managers, with especially strong support from US authorities, struck an agreement with OPEC to price oil in US dollars exclusively for all worldwide transactions. This gave the dollar a special place among world currencies and in essence “backed” the dollar with oil. In return, the US promised to protect the various oil-rich kingdoms in the Persian Gulf against threat of invasion or domestic coup. This arrangement helped ignite the radical Islamic movement (Al Qaeda) among those who resented our influence in the region. The arrangement gave the dollar artificial strength, with tremendous financial benefits for the United States. It allowed us to export our monetary inflation by buying oil and other goods at a great discount as dollar influence flourished.

This post-Bretton Woods system was much more fragile than the system that existed between 1945 and 1971. Though the dollar/oil arrangement was helpful, it was not nearly as stable as the pseudo-gold standard under Bretton Woods. It certainly was less stable than the gold standard of the late 19th century.

The agreement with OPEC in the 1970s to price oil in dollars has provided tremendous artificial strength to the dollar as the preeminent reserve currency. This has created a universal demand for the dollar, and soaks up the huge number of new dollars generated each year.

Using force to compel people to accept money without real value can only work in the short run. It ultimately leads to economic dislocation, both domestic and international, and always ends with a price to be paid.

The economic law that honest exchange demands only things of real value as currency cannot be repealed. The chaos that one day will ensue from our 35-year experiment with worldwide fiat money will require a return to money of real value. We will know that day is approaching when oil-producing countries demand gold, or its equivalent, for their oil rather than dollars or euros. The sooner the better.”

Ron Paul told me that although this speech is relatively unknown in the US, it was widely received around the world. As we discussed the implications of these issues, Paul said that the premise of this speech still applies today.

I believe that once the dollar loses its status as the world’s premier reserve, the US will start to implement the destructive measures we frequently discuss: capital controls, people controls, price controls, currency devaluations, confiscations, nationalizing pensions, etc.

Such things have happened recently in Poland, Cyprus, Iceland, Argentina, Zimbabwe, Venezuela, and a number of other countries.

Take a glance at history and you will quickly notice these measures are the norm when a government gets into serious fiscal trouble. Many nations have made the mistake of thinking they were somehow “exceptional” and that these kinds of things couldn’t happen to them.

There is no question the US is and will continue to be in serious fiscal trouble unless it implements drastic (and politically impossible) changes. The only saving grace for the US has been its ability to print the world’s reserve currency. But once that special privilege is lost, it will revert to the measures all other governments throughout history have taken.

You absolutely want to be internationalized before the US dollar loses its status as the world’s premier reserve currency. I truly believe the window opportunity to take protective action will slam shut at that time.

Internationalization is just one of several timely topics touched on by the experts who gathered at the 2013 Casey Summit, 3 Days with Casey. Unusually, most speakers stayed after their presentations to mingle with attendees and listen to others’ talks—which speaks volumes as to the quality of the conference. If you missed out—or even if you were fortunate enough to be in attendance for Ron Paul’s keynote address, plus presentations by Lacy Hunt, Catherine Austin Fitts, Chris Martenson, and many others, not to mention the Casey Brain Trust led by Doug Casey himself—you can still hear it all. Every presentation. Every breakout session. Every Q&A. All of it—including speakers’ visual aids, if used—will be available on the 2013 Summit Audio Collection.

That’s over 27 hours of insight, analysis, speculation, discussion, recommendations… and much more. And you can get a substantial discount by ordering today. Click here to learn more and reserve your CD or MP3 copy of the 2013 Summit Audio Collection.

By Nick Giambruno, Editor, International Man

Gold Down for 3rd Day as 10/2 Rally is Almost Completely Retraced

Posted: 10 Oct 2013 01:59 PM PDT

‘Dollar About to Crash’, 170,000 Tons of Gold Held in Secret Hawaii Vault – World Bank Whistleblower

Posted: 10 Oct 2013 12:30 PM PDT

'Dollar About to Crash', 170,000 Tons of Gold Held in Secret Hawaii Vault – World Bank Whistleblower

In this interview with RT, World Bank whistleblower Karen Hudes drops numerous bombshells- claiming that the dollar is valueless and is about to crash. Perhaps of most interest to precious metals investors, Hudes appears to allude to the legendary Yamashita’s Gold- claiming that over 170,000 tons of gold bullion- more than the global stated reserves- [...]

The post 'Dollar About to Crash', 170,000 Tons of Gold Held in Secret Hawaii Vault – World Bank Whistleblower appeared first on Silver Doctors.

Kyle Bass on US Default Risk: “There Is No Way To Protect Yourself If US Treasuries Default!”

Posted: 10 Oct 2013 11:01 AM PDT

Kyle Bass on US Default Risk: "There Is No Way To Protect Yourself If US Treasuries Default!"

Hedge fund titan Kyle Bass was on CNBC Wednesday discussing the potential of a US treasury default.  When asked by CNBC about the US default risk, and how traders might hedge for such an occurrence, Bass responded: “If the US politicians were really to lead us into a ‘prioritization of payments’ that Treasury Secretary Lew [...]

The post Kyle Bass on US Default Risk: “There Is No Way To Protect Yourself If US Treasuries Default!” appeared first on Silver Doctors.

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