Gold World News Flash |
- Surviving If The Grid Goes Down - An Urban Prepper's Survival Tips
- Maguire – Shocking Information In The War On Gold & Silver
- Gold Daily and Silver Weekly Charts – Coiling Into Option Expiration
- Maguire - The Reason Why Silver May Be Set To Skyrocket
- Commitment of Traders Info
- Gold, Silver, Acceleration and Money Velocity
- How The Chinese Buy Gold?
- China Is Not 1914 Germany
- In The News Today
- Jim’s Mailbox
- Man Who Ran First QE Owns Gold & Warns Of Coming Inflation
- Koos Jansen: In China 'people are buying gold like groceries'
- More from Huszar, Maguire, and Pento at King World News
- Stoic Cyprus back from the dead after banking collapse
- U.S. Housing Market Firesales Could Trigger Another Financial Crisis
- All Eyes On Gold And China When Silver Could Be The Tipping Point
- The U.S. Greater Depression Exposed, Part II
- Maguire - Shocking Information In The War On Gold & Silver
- Gold Price Off To A Good 2014 Start
- U.S. Housing Market Mortgage Purchase Applications Running Out Of Time
- Ukraine : The Government on the verge of Collapse
- Stock Market SPX Double Top
- Crude Oil Price Declines Slightly
- China Dumping Treasuries, Food and Energy Soaring, Wars Breaking Out Everywhere - Andy Hoffman
- Precious Metals: A Pressure Cooker
- Gold Investors Weekly Review – February 21st
- This Silver and Gold Price Rally Will Far Surpass Gains Seen from 2001 - 2011
- This Silver and Gold Price Rally Will Far Surpass Gains Seen from 2001 - 2011
- Fed knew about Libor rigging in 2008 but did nothing
- Big Gold Stocks Buying Opportunity
- The Counter-Intuitive Gold Play
- Gold and Silver Extend Their Price Rallies Amid Escalating Chinese Demand
- All Currencies Are an Inverse Pyramid Based on The Dollar
- Currency Wars the Great Destabilizer
| Surviving If The Grid Goes Down - An Urban Prepper's Survival Tips Posted: 23 Feb 2014 12:14 AM PST Judge Jeanine Pirro - Surviving If The Grid Goes Down - An Urban Prepper's Survival Tips - Lights Out If the power grid goes down... civlization will crash. An economic collapse would be bad enough...but a loss of 'the grid'...would sned us back 200 years...worse..the people of 200 years ago knew... [[ This is a content summary only. Visit http://www.GoldSilverNewsBlog.com or http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | |
| Maguire – Shocking Information In The War On Gold & Silver Posted: 22 Feb 2014 11:30 PM PST from KingWorldNews:
If you recall, as we exited 2013 trading we had the most prominent bullion banks calling loudly for $1,050 gold. Not only that, but your listeners (and readers) will remember the information we reported from a private presentation by (Simon Weeks of) ScotiaMocatta (who is also Chairman of the LBMA) to BlackRock, suggesting a ludicrous price of $800 gold. | |
| Gold Daily and Silver Weekly Charts – Coiling Into Option Expiration Posted: 22 Feb 2014 09:30 PM PST from Jesse's Café Américain:
The Comex warehouses continued to shuffle their chips and cards, with no meaningful movement of gold bullion in or out yesterday. Gold is obviously coiling in a symmetrical triangle at key resistance, within a large inverse H&S formation, and an even larger ‘W formation.’ I do not expect the Comex situation to resolve itself this month, with continuing low inventories of deliverable gold and antics with price and delivery being played until there is some shock from outside the pits, some failure to deliver that cannot be covered up or brushed aside. It *could* break right at the Comex, but I suspect that the price setting mechanisms there are sufficiently divorced from the real market so that Comex will be collateral damage to some much larger event. | |
| Maguire - The Reason Why Silver May Be Set To Skyrocket Posted: 22 Feb 2014 09:01 PM PST  Today London metals trader Andrew Maguire spoke with King World News about the massive amount of gold being smuggled into India and the reason why silver may now be set to skyrocket. Below is what Maguire had to say in Part III of this incredibly powerful series of interviews.This posting includes an audio/video/photo media file: Download Now | |
| Posted: 22 Feb 2014 08:30 PM PST from Dan Norcini:
Take a look at the following two charts to illustrate the absurdity of those claims that gold was only lower because it was being manipulated. | |
| Gold, Silver, Acceleration and Money Velocity Posted: 22 Feb 2014 07:00 PM PST Jeffrey Lewis | |
| Posted: 22 Feb 2014 06:19 PM PST 880 grams at a time...
As China News reports, in a gold shop in Taiyuan, Shanxi Province, a "tyrant female" (Google Translate must have loved that one) bought more than 880 grams of gold jewelry. Lunch boxes were used to weigh the gold and it left other shoppers speechless with admiration. Reporters on the scene saw the woman buy gold jewelry and diverse, there are a dozen light gold ring, the rest of the gold necklaces, gold pendants and other a lot. The staff at the time of weighing a total of more than 880 grams of gold jewelery boxes accounted for nearly one-third the size of the load box, stacked full of gold so that shoppers around again and again speechless. Faced with the question, "why buy gold", Ms. "buy gold" did not want to say, but suggsted for her "own use."
Perhaps she read Grant Williams anti-"Anti-Gold-Idiots" discussion this week:
When Western central bankers rubbish gold as a "barbarous relic" or, as in the case of Ben Bernanke shortly before he started his job at The Brookings Institution left office in January, admit to a complete lack of understanding of it, does it not strike you as strange that, having accumulated significant stockpiles of gold over the years, they aren't in a hurry to swap any of it for paper money (well, with the notable exception perhaps of the United Kingdom, thanks to the antics of Gordon Brown, King of the Idiot Chancellors)? It shouldn't. Gold is held by Western central banks for exactly the same reason individuals ought to hold it: protection. Central banks are accumulating gold because it cannot go BANG! like fiat currencies do. Individuals should be doing the same — not being sidetracked by the distractions. It's not about price. The story Jared shared with us demonstrates that beyond any doubt. If you own gold, it will do all the heavy lifting for you when the time comes | |
| Posted: 22 Feb 2014 05:56 PM PST Submitted by Robert Dujarric via The Diplomat, Current events are frequently viewed through the prism of analogies. Words become shorthand for a particular type of situation. "Munich" equals the danger of appeasing bloodthirsty dictators, "Vietnam," and now "Iraq/Afghanistan" means the folly of getting involved in (or, in the case of Iraq, starting) civil wars in countries whose societies the outsiders neither understand nor can effectively influence. In some cases, acting on these parallels turns out to be wise. The fear of repeating "Munich" helps explain the forceful and successful American response to Soviet expansionism at the start of the Cold War (Berlin, Korea, etc.). In other cases, they are misguided, as was the case in the Anglo-French invasion of Egypt, where Nasser was no Hitler and giving up the Suez canal would not have equated to throwing Czechoslovakia to the wolves. The analogy that is currently in vogue in Asia is "1914." This is a particularly complex one, as there are two distinct narratives of that fateful year. The one that was prevalent in the U.K. and the U.S. for many decades after the conflict that ensued perceived the war through the "Sarajevo" lens as a giant cataclysm in which all the players bore a share of the blame for the destruction of Western civilization. Another interpretation, which is more dominant today, is best illustrated by the late German historian Fritz Fischer's Germany's Aims in the First World War (1961), which assigns most of the responsibility to Berlin. The "2014 as 1914" discussion covers both theses. Those who dread that a minor maritime collision could escalate into Armageddon subscribe to the "Sarajevo" theory, where an assassin's bullet set off a chain reaction which even men and women of good intention could not stop. Others think that Beijing is bent on regional, if not world, domination. They see China's hypertrophied ambitions as an early 21st century of the German Empire's quest for power described in Fischer's works. Many officials and analysts who refer to "1914" fall in between. They often know little about European history but see an ominous danger of war that reminds them of what they think "1914" was. The one common threat in the "1914" warnings is that the People's Republic is perceived as the Asian counterpart of Wilhelmine Germany. A rising continental autocracy with territorial ambitions on land and dreams of overseas expansion confronting a potential coalition of onshore (India, Vietnam, ROK, maybe even Russia) and offshore (Japan, Taiwan, parts of ASEAN, U.S.) powers. For some, Beijing's expansionist aims are obvious; others see them as moderate and blame Washington and its allies for not accepting China's rise, reflecting the same differences of interpretation that existed in Europe before (and after) World War 1 regarding German goals. The critical error in this comparison is that China today bears little resemblance to Germany a century ago. First, their domestic situation is vastly different. The Hohenzollern dynasty did face discontent at home, in particular a powerful Social-Democratic movement. But the socio-political fabric of Germany was vastly stronger than that of the People's Republic. In comparative perspective, Prussia-Germany had enjoyed a stable and productive century prior to 1914, something that does not apply to China in 2014. Prussia-Germany was autocratic but had developed a more effective system to partially include citizens in the political process than China has. Frequent violent protests, and the massive export of capital by rich Communist Party members to overseas accounts, illustrate this point about China's fragility. It is interesting to note German society, as in existed prior to World War I, was so solidly anchored that much of its establishment survived relatively unscathed four years of total war, defeat and revolution. Second, we know that Germany in 1914 had an outstanding army. Estimating the worth of the PLA is harder since it has not fought a major campaign since Vietnam defeated China 35 years ago. As a military historian noted "A day's trial by battle often reveals more of the essential nature of an army than a generation of peace." (in Russell F. Weigley, Eisenhower's Lieutenants, 1990) so discussions of the abilities of the PLA are hard to validate. But one thing is clear. In Imperial Germany, especially in its Prussian core, the ruling classes took military service very seriously. Young men of privilege served in the officer corps, one's rank in the reserves of prestigious units was a source of great pride and social standing. From what we know about the sons (and daughters) of China's elite, we are more likely to see them studying in Ivy League campuses, eating in Wall Street cafés, and living in Hong Kong flats than leading platoons and companies of soldiers in the frozen hills of Manchuria or the scorching deserts of Xinjiang. Third, Germany was not the world's largest economy on the eve of World War I, the United States was. But in many fields, Germany was the most advanced country on the planet. A German doctorate was the gold standard of academia until Adolf Hitler destroyed the universities. Germans led in countless disciplines, be it physics, archeology, or medicine. Germany was ahead in many industrial technologies as well. China has progressed, but its relative position lags well behind that of Germany a century ago. Fourth, the geopolitics are different. Germany had two continental associates, the Habsburg and Ottoman empires. It took several years before the United States joined the Allies. Today, China is essentially bereft of allies and is confronting what is a de facto U.S.-Japan-Australia coalition, potentially augmented by several Asian states and under certain circumstances most of NATO Europe and Canada. Fifth, Germany in 1914 was a demographically dynamic country. China, due to the twin consequences of the one-child policy and economic development, is aging at a rapid rate. This is not unique in Asia, but compared to its major global competitor, the United States, China is in demographic decline. What are the implications of these facts? For China's foes, namely the United States, Japan, and others, they mean that the situation is not as dire as it was in 1914 for Germany's opponents (whom we should remember came close to being dealt a terminal blow in the opening stages of World War I). For the Chinese Communist Party, they imply that it would be even riskier for it to initiate a conflict than it was for the Central Powers in 1914. | |
| Posted: 22 Feb 2014 05:31 PM PST Do not separate text from historical background. If you do, you will have perverted and subverted the Constitution, which can only end in a distorted, bastardized form of illegitimate government. – James Madison (1751-1836), Father of the Constitution, 4th US President Gold price: Hedge funds add 30% to bullish bets Frik Els... Read more » The post In The News Today appeared first on Jim Sinclair's Mineset. | |
| Posted: 22 Feb 2014 05:26 PM PST Jim, Plunder gold – mission accomplished! Nice ops. You have to wonder who will need liberation next! This guy should have moved his gold to China or Russia. If I was a target of the banks, that is exactly what I would have done and announced it to the world. Maybe Venezuela will get it... Read more » The post Jim’s Mailbox appeared first on Jim Sinclair's Mineset. | |
| Man Who Ran First QE Owns Gold & Warns Of Coming Inflation Posted: 22 Feb 2014 05:15 PM PST Dear CIGAs, Today the man who ran the first QE program for the Fed told King World News that he owns gold and warned of coming inflation. This was the former Fed member who also set up the Fed's massive trading room, and who is the former Managing Director at Morgan Stanley, Andrew Huszar. Below... Read more » The post Man Who Ran First QE Owns Gold & Warns Of Coming Inflation appeared first on Jim Sinclair's Mineset. | |
| Koos Jansen: In China 'people are buying gold like groceries' Posted: 22 Feb 2014 02:04 PM PST 5p ET Saturday, February 22, 2014 Dear Friend of GATA and Gold: Gold researcher and GATA consultant Koos Jansen reports today that China's gold offtake continues to exceed world gold mine production. He publishes photographs taken in recent days by his contacts and their friends and relatives at gold shops in China, demonstrating that, as one contact says, "People are buying gold like groceries." Jansen's report is posted at his Internet site, In Gold We Trust, here: http://www.ingoldwetrust.ch/weekly-chinese-gold-demand-transcends-global... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT How to profit with silver -- Future Money Trends is offering a special 16-page silver report with profiles of nine companies and technical analysis of their stock performance. Six of the companies have market capitalizations of less than $800 million and one company has a market cap of only $30 million. The most exciting of these companies will begin production in a few weeks and has a market cap of just $150 million. Half of all proceeds from the sale of this report will be donated to the Gold Anti-Trust Action Committee to support its efforts exposing manipulation and fraud in the gold and silver markets. To learn about this report, please visit: http://www.futuremoneytrends.com/index.php?option=com_content&id=376&tmp... Join GATA here: Mines and Money Hong Kong http://www.minesandmoney.com/hongkong/ * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT Buy metals at GoldMoney and enjoy international storage GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit: http://www.goldmoney.com/?gmrefcode=gata | |
| More from Huszar, Maguire, and Pento at King World News Posted: 22 Feb 2014 01:57 PM PST 4:56p ET Saturday, February 22, 2014 Dear Friend of GATA and Gold: In the second installment of the King World News interview with Andrew Huszar, the former Federal Reserve official who ran the central bank's first "quantitative easing" bond buying program, he acknowledges that he owns gold as a hedge against the "significant volatility" he expects in world markets: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/2/21_Ma... Also at King World News, London metals trader Andrew Maguire notes that the predictions of big investment banks for a gold crash early in the new year did not come true: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/2/22_Ma... And investment adviser Michael Pento says economies are "being whipsawed between inflation and deflation as central banks and governments have created massive debt and asset bubbles. Then, once the stimulus begins to be removed, those bubbles burst. These same governments attempt to re-inflate the same bubbles by monetizing an ever-increasing amount of government debt, causing the asset bubbles to become more pronounced with each cycle." Pento's interview is here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2014/2/22_Ho... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT A Personal Touch in Buying Precious Metals If you've not secured your allocation of precious metals and numismatic coins, 2014 may be the last year to get them at affordable and undervalued prices. With huge amounts of gold leaving the West for Asia, the future availability of precious metals is very much in doubt. All Pro Gold has competitive pricing on all bullion and numismatic products -- and offers prompt delivery too. Long-time GATA supporters Fred Goldstein and Tim Murphy are glad to answer any questions or concerns about acquiring the monetary metals. All Pro Gold has an extensive electronic library of articles from the world's top market analysts. Learn more at www.allprogold.com or write to Fred and Tim at info@allprogold.com or telephone them at 1-855-377-4653. Join GATA here: Mines and Money Hong Kong http://www.minesandmoney.com/hongkong/ * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT Jim Sinclair plans seminars in Los Angeles and San Diego Gold advocate Jim Sinclair's next market analysis seminars will be held in Los Angeles from 11 a.m. to 2 p.m. on Saturday, March 8, and in San Diego from 2 to 6 p.m. the following day, Sunday, March 9. Details, including registration information, are posted at Sinclair's Internet site, JSMinset.com, here: http://www.jsmineset.com/qa-session-tickets/ | |
| Stoic Cyprus back from the dead after banking collapse Posted: 22 Feb 2014 01:30 PM PST Recovery looks feasible for the island whose economy crashed less than a year ago 
This posting includes an audio/video/photo media file: Download Now | |
| U.S. Housing Market Firesales Could Trigger Another Financial Crisis Posted: 22 Feb 2014 01:14 PM PST Ask your average guy-on-the-street ‘what caused the financial crisis’, and you’ll either get a blank stare followed by a shrug of the shoulders or a brusque, three-word answer: “The housing bubble”. Even people who follow the news closely are usually sketchy on the details. They might add something about subprime mortgages or Lehman Brothers, but not much more than that. Very few people seem to know that the crisis began in a shadowy part of the financial system called repo, which is short for repurchase agreement. In 2008, repo was ground zero, the epicenter of the meltdown. That’s where the bank run took place that froze the credit markets and sent the financial system into freefall. Unfortunately, nothing has been done to fix the problems in repo, which means that we’re just as vulnerable today as we were five years ago when Lehman imploded and all hell broke loose. | |
| All Eyes On Gold And China When Silver Could Be The Tipping Point Posted: 22 Feb 2014 12:50 PM PST incense - [noun] an aromatic substance acquired from certain resinous trees with aromatic biotic materials which release fragrant smoke when burned. The odor produced from smoke is not the incense, but the substance that is burned. Fundamentals for gold and silver have become the incense of reality for Westerners. The primary focus is on how many tonnes of gold China has been importing for the past many years, the depletion of available stocks from the central bankers straw men, aka the LMBA and COMEX, the number of coins sold by various governments to the public, [a relative drop in the bucket, but its reporting has a sensation factor], etc, etc. | |
| The U.S. Greater Depression Exposed, Part II Posted: 22 Feb 2014 12:31 PM PST Part I of this series laid out the three conclusions which would be established: 1) The U.S. economy is currently in the midst of a Greater Depression; the worst sustained economic collapse in the history of that nation. 2) Given this collapse; the U.S. does not have one of the world's stronger economies, but rather it has the weakest economy of any/all major nations. 3) The downward spiral in this Greater Depression is, in fact, a terminal collapse. The final result of this economic devolution can only mean the transformation of the United States into essentially a "Third Word nation". The prequel to this provided part of the basis for the first conclusion. It began by showing how one could pretend that an economy which was actually shrinking rapidly was instead "growing" rapidly, by doing nothing more than falsifying one number: the rate of inflation. This was followed by unequivocal evidence in the form of two pairs of charts. The first pair of charts showed how the U.S. government lies-with-numbers in the realm of employment. One chart, containing "adjusted" (i.e. falsified) data, showed the U.S. economy (supposedly) creating new jobs, month after month, year after year. That first chart was/is the only data which the Corporate media ever shows to the general public. It was then followed by second a chart, which the general public never sees. This second chart contains unadjusted data (i.e. data which cannot be falsified), which showed conclusively that the U.S. has been losing jobs, for virtually every month of the supposed recovery. Similarly; the second pair of charts separated fact-from-fiction in the U.S. housing sector. While the propaganda machine attempts to peddle the myth that there is a "new housing boom" in the U.S.; the reality is that the housing depression which began back in 2007 continues, with (real) housing activity merely equaling the worst levels of any/all previous crashes in this sector. This last installment will focus primarily on only two pieces of data. However, they are sufficiently persuasive to not only fully establish the first conclusion, but the second and third conclusions as well. The first data concerns U.S. energy consumption. There are a number of unequivocal "truths" when it comes to economics, and the dynamics of our (modern) economies. One of these Truths is that growing economies require more energy. The source of such growth in demand is two-fold. On the consumption side; any increase in consumption necessarily implies using more energy. First there is the energy used to produce the good or service; then there is the additional energy required for transportation – either transporting the customer to the good/service, or transporting the good/service to the customer. Thus even a rise in "on-line shopping" still implies using more energy. | |
| Maguire - Shocking Information In The War On Gold & Silver Posted: 22 Feb 2014 12:06 PM PST  With gold getting a weekly close above the important $1,320 level, today London metals trader Andrew Maguire spoke with King World News about shocking information in the war on gold and silver. Below is what Maguire had to say in Part II of this incredibly powerful series of interviews that will be released today.This posting includes an audio/video/photo media file: Download Now | |
| Gold Price Off To A Good 2014 Start Posted: 22 Feb 2014 06:37 AM PST Gold has moved to the front burner. It's risen nearly 11% from its December low to a 3+ month high. So 2014 is off to a good start. Gold shares stronger Gold shares are rising even more than gold. We like gold shares and recommend buying both gold and gold shares. The upside is open to at least a decent intermediate rise. | |
| U.S. Housing Market Mortgage Purchase Applications Running Out Of Time Posted: 22 Feb 2014 06:29 AM PST Courtesy of Doug Short: For 2013, one of the main stories in housing was the cool down in existing home sales numbers over the second half of the year, in spite of the relative strength in GDP. What was the main reason for this? Follow the data and the answer appears. When interest rates spiked we did not see the mythical sideline home buyer rush to the market place. Rather what we saw was a collapse of the mortgage purchase application index. | |
| Ukraine : The Government on the verge of Collapse Posted: 22 Feb 2014 06:29 AM PST Ukrainian lawmakers have been meeting in Kiev to try and fill a major power vacuum.The parliament has made several important political appointments - including a new parliamentary speaker, interior minister in charge of the nation's police and a Prosecutor General.Al Jazeera's Andrew Simmons is... [[ This is a content summary only. Visit http://www.GoldSilverNewsBlog.com or http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | |
| Posted: 22 Feb 2014 06:21 AM PST This morning heavy gusts of wind (50-60 mph) came through and knocked out power, phones and internet. We were only restored around 2:30 and there was much to do while getting back online. SPX is set up for a potential gap down on Monday. There is a run on at least one Russian bank and it appears that the Ukraine is on the verge of collapse. Pray that the truce holds over the weekend, because it if doesn’t, what began as demonstrations for basic human rights may turn into a civil war and may foment ill will between Russia and the U.S. | |
| Crude Oil Price Declines Slightly Posted: 22 Feb 2014 06:07 AM PST Trading position (short-term): In our opinion no positions are justified from the risk/reward perspective. On Thursday, crude oil moved lower as the U.S. dollar strengthened after solid U.S. economic data and stocks of distillates fell less-than-expected. Despite this small drop, light crude still remains near a 4-month high, slightly below $103 per barrel. | |
| China Dumping Treasuries, Food and Energy Soaring, Wars Breaking Out Everywhere - Andy Hoffman Posted: 22 Feb 2014 03:30 AM PST Andy Hoffman discusses QE, the Fed, Europe, Japan, the dollar falling, unemployment, Obamacare, Bitcoin, gold and silver.The USA prevailed in WW2 for no other reason than it's ability to harness it's INDUSTRIAL might. The USA has no industrial might at this point. It will take ten years to build... [[ This is a content summary only. Visit http://www.GoldSilverNewsBlog.com or http://www.newsbooze.com or http://www.figanews.com for full links, other content, and more! ]]  | |
| Precious Metals: A Pressure Cooker Posted: 22 Feb 2014 12:55 AM PST As we noted two weeks ago in Entire Precious Metals Complex At Major Resistance, precious metals and miners are all simultaneously at a rarely seen juncture on the price charts. The situation has evolved meantime and it feels like an enormous pressure cooker. In this update, we show the latest charts at the close of the week (February 21st). It appears that gold and silver are right above their important 200 day moving average, while platinum and palladium are at a major technical resistance ready to trend (break out or break down). The gold chart has improved in the last two weeks. The important 200 day moving average was taken out earlier this week. From a technical point of view, the 200 day MA is important as lots of automated traders and speculators use this as a decision point. If this trend continues, one can expect a next major resistance near $1450, the point where is broke down last April.
Silver was lagging when we wrote our previous update. Meantime, the chart has improved considerably, as it broke out of a major resistance line and its right above its 200 day moving average. If this trend continues, one can expect a next major resistance near $25, the point where is broke down last April.
The picture in platinum and palladium is different than gold and silver. However, from a chart point of view both metals are ready to trend. The only question is in which direction. The charts show how platinum and palladium have moving towards a major resistance line and tested it three times. As a general rule of thumb, that is a condition for a trending move. Both metals are very close to retest the same resistance line. If (and that’s a big IF) they would be able to break out, it would be a very powerful sign of strength. The price levels to watch are $755 palladium and $1435 platinum.
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| Gold Investors Weekly Review – February 21st Posted: 21 Feb 2014 11:28 PM PST In his weekly market review, Frank Holmes of the USFunds.com nicely summarizes for gold investors this week's strengths, weaknesses, opportunities and threats in the gold market. The price of the yellow metal went lower after two consecutive weeks of gains. Gold closed the week at $1,324.10, up $5.41 per ounce (0.41%). The NYSE Arca Gold Miners Index went 1.00% higher on the week. This was the gold investors review of past week. We found out this week the extent that gold is sought in the East. For the first time since 1980, Switzerland released monthly gold trade data, providing a more transparent picture of physical gold flows. In January alone, the Swiss report showed an incredible 80 percent of gold shipments went to Asia. Switzerland plays a key role in the gold market because it is home to many big gold refiners, so its report confirms what we've been saying about gold's move out of the West to the strong hands of the East. So even though the gold price fell in 2013, the smart money tuned into this flow of physical gold that was moving into the East. Meanwhile, naysayers were distracted by the Fear Trade's selling out of gold ETFs. "Gold flooding onto the market as a result [of large-scale ETF selling] was used to feed the voracious appetite for physical metal among consumers in India, China and numerous Asian and Middle Eastern markets," says the World Gold Council in its latest report. You can see in the chart that gold demand reached record levels in the jewelry, bar and coin areas of the market last year. In fact, there was a 21 percent increase in demand from consumers, which was in contrast to the outflows from gold ETFs, per the WGC.
Gold Market StrengthsGold rose to a 15-week high as U.S. retail sales and housing starts slumped at the same time as Chinese manufacturing data fell to its lowest level in seven months. In addition, the political unrest in Ukraine and Thailand boosted gold's haven premium. On a more positive note, gold demand in Japan jumped threefold in 2013 as investors sought refuge from Prime Minister Shinzo Abe's campaign to stoke inflation. India's gold demand remained buoyant in 2013, rising 13 percent from 2012 despite the government introducing several restrictions to curb imports. Lastly, JP Morgan raised its outlook on gold, saying prices are likely to hit $1,450 by the end of the year as fundamentals have turned bullish. A recent report from the Swiss Customs Administration shows the European nation shipped more than 80 percent of its gold and silver bullion to Asia last month. The main destinations were Hong Kong, India and Singapore, while the main sources of gold imports were the U.K and the U.S. Despite the recent price recovery in gold, the demand from physical buyers in Asia continues to drive a wave of gold finding its way from weak hands into strong hands. Gold Market WeaknessesThe two "most accurate" gold forecasters are holding on to their bearish forecasts for 2014 even after the metal posted its best start to a year since 1983, according to a Bloomberg report. The report cites analysts at Societe General and Westpac Banking as the best forecasters over the past two years; however, what the report fails to convey is the fact that these analysts are permanently bearish on gold, and the 15-month recent downtrend favored their forecasts. Now that the fundamentals have changed and the downtrend has been broken, it would be wise to appraise these forecasts. Gold Market OpportunitiesUBS boosted its forecast for gold in 2014 citing a change in investors' attitude toward the yellow metal. According to the bank's analysts, over the past year gold was either the favorite asset to short or was ignored completely. Recent developments suggest that this is no longer the case and momentum is turning, the analysts added. Moreover, BCA Research published data showing gold mining shares were down more than 40 percent over the past year. As shown in the chart below, each decline of more than 40 percent since 1980 has given way to at least a tradable rally.
India, which lost its crown to China last year as the top gold consumer, is likely to cut its import tax on gold before the end of February to 6 or 8 percent from the current 10 percent. The government initiative comes as pressure on the country's current account deficit has scaled down, with recent data showing it has fallen by nearly 50 percent. Gold Market ThreatsDespite an apparent lack of inflationary pressure in the U.S., and ongoing disinflationary trends in the eurozone, the continuous commodities index, which tracks commodity baskets, has risen sharply. Many agricultural commodities have strengthened following poor conditions in several geographies, and energy prices have increased following colder than usual winter weather. These increases may appear transitory, but the index shows a very strong correlation with inflation readings and, as such, we could see month-over-month inflation readings turn positive over the next couple months. The Province of Quebec is seeking to preserve head offices in the province, even if that means thwarting bids. On the back of the recent bid for Osisko Mining, Quebec will move to enact legislation that shields businesses from takeovers by allowing the province to purchase stakes in the ownership of homegrown companies. The measures are aimed at preserving head-office jobs that help generate the C$5 billion in economic activity. Although the current strike in the platinum industry is broader than previous events, the metal price reaction has been relatively muted so far. The strike was preannounced, giving the industry time to prepare, but should the current stalemate continue, some tightness could start to develop. | |
| This Silver and Gold Price Rally Will Far Surpass Gains Seen from 2001 - 2011 Posted: 21 Feb 2014 05:14 PM PST Gold Price Close Today : 1,323.90 Gold Price Close 14-Feb-14 : 1,319.00 Change : 4.90 or 0.4% Silver Price Close Today : 21.782 Silver Price Close 14-Feb-14 : 21.411 Change : 0.371 or 1.7% Gold Silver Ratio Today : 60.780 Gold Silver Ratio 14-Feb-14 : 61.604 Change : -0.824 or -1.3% Silver Gold Ratio : 0.01645 Silver Gold Ratio 14-Feb-14 : 0.01623 Change : 0.00022 or 1.4% Dow in Gold Dollars : $ 251.44 Dow in Gold Dollars 14-Feb-14 : $ 253.18 Change : -1.73 or -0.7% Dow in Gold Ounces : 12.164 Dow in Gold Ounces 14-Feb-14 : 12.247 Change : -0.08 or -0.7% Dow in Silver Ounces : 739.29 Dow in Silver Ounces 14-Feb-14 : 754.49 Change : -15.20 or -2.0% Dow Industrial : 16,103.30 Dow Industrial 14-Feb-14 : 16,154.39 Change : -51.09 or -0.3% S&P 500 : 1,836.25 S&P 500 14-Feb-14 : 1,838.63 Change : -2.38 or -0.1% US Dollar Index : 80.300 US Dollar Index 14-Feb-14 : 80.180 Change : 0.12 or 0.1% Platinum Price Close Today : 1,426.30 Platinum Price Close 14-Feb-14 : 1,428.50 Change : -2.20 or -0.2% Palladium Price Close Today : 740.00 Palladium Price Close 14-Feb-14 : 737.40 Change : 2.60 or 0.4% Silver and GOLD PRICES scored another successful week, suffering a small correction bravely met. Gold rose 0.4% for the week, silver 1.7%. Today gold won another $6.80 (0.5%) to $1,323.90. Silver inched up 9.8 cents (0.5%) to 2178.2c. After Tuesday's 2198c intraday high silver went into resting mode, but still never dropped lower than 2138c this week. This formation looks like a "pennant". Rule of thumb says, "Flags (and pennants) always fly at half staff," which gives this move a first target of about 2350c. Next week should witness silver jump up again. Y'all shouldn't underestimate the worth of silver and gold prices at last climbing above their 200 day moving averages. That points momentum upward after we have struggled more than two years in a correction, with silver beneath that 200 DMA most of the time. Last week the GOLD PRICE broke through $1,300 and $1,320 resistance. It's breathing and puffing here, but should reach $1,360 before it takes a real rest. Gold might drop as low as $1,280 without breaking this uptrend. On the weekly chart the gold price has risen plumb to the evil downtrend line from the August 2011 high, stands above the 20 week moving average and is kissing its 50 WMA. Confirmation comes when it passes the August high ($1,434), getting ready to challenge $1,550 where the April Agony occurred. The SILVER PRICE weekly chart shineth even more brightly. Silver has risen above its since-April 2011 downtrend line and is also kissing its 50 WMA. Silver and gold ought to have at least a week left to rally. But never mind anticipations, both have definitively turned up out of the 2011-2013 correction. And this rally will far surpass any gains silver or gold saw from 2001 - 2011. Read that again, because I mean it. The best and biggest gains are yet to come. If y'all miss that train, don't send me any post cards complaining I didn't warn y'all. One last time I'll remind y'all, if you ever want to swap gold for silver at spot ratios above 60:1, you'd better jump. We are swapping gold for silver now, targeting a swap back at 31;1 or better. Solid week for metals, making good last week's gains. Stocks struggled and still closed barely lower. US dollar index feebly rose. Dow measured in Silver and gold fell further. US DOLLAR INDEX did no more this week than validate the bottom boundary (79.95) of the range in force since September, 79.75 - 81.50. Today peeled off two basis points to fall to 80.30. Momentum is earthward. The euro, "The Manic Depressive Fiat Currency," rose again today. It's tightening up in a triangle that might shoot high but might also step through a rotten well cover. Today gained 0.14% to $1.3738. Japanese yen, lower by 0.22% today to 97.25, now hath fallen below its 20 day moving average. Should move lower, but barely. STOCKS closed lower this week. Out of six weeks this year, stocks have closed lower three. Today most indices fell, not much, just enough to break morale. Dow mislaid 29.93 (0.2%) to 16,103.30. S&P500 lost 3.53 (0.2%) to end at 1,836.25 Stocks are painfully fulfilling a broadening top formation. From here we may yet see slightly higher highs, or we may have seen them already. Either way, by end-May we ought to know. Future course is down. Investors ought to be selling stocks and rolling proceeds into silver and gold. Dow in gold lost another 0.43% to 12.14 oz. (G$250.96 gold dollars). Blamed thing has been falling so long I'm wondering if it's not time for a little rally. Dow in Silver is worse. It stands below the 200 DMA (741.24 oz) at 737.50 oz today, lower by 0.28%. What I want to see here is more downside, confirming that metals have reversed their downtrend against stocks. Long term downtrend line for Dow in Silver today hits about 580 oz, for gold about 10 oz, so we have a ways to fall for final confirmation. Be patient. Y'all enjoy your weekend! Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com © 2014, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold or 18 ounces of silver. or 18 ounces of silver. US $ and US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose. | |
| This Silver and Gold Price Rally Will Far Surpass Gains Seen from 2001 - 2011 Posted: 21 Feb 2014 05:14 PM PST Gold Price Close Today : 1,323.90 Gold Price Close 14-Feb-14 : 1,319.00 Change : 4.90 or 0.4% Silver Price Close Today : 21.782 Silver Price Close 14-Feb-14 : 21.411 Change : 0.371 or 1.7% Gold Silver Ratio Today : 60.780 Gold Silver Ratio 14-Feb-14 : 61.604 Change : -0.824 or -1.3% Silver Gold Ratio : 0.01645 Silver Gold Ratio 14-Feb-14 : 0.01623 Change : 0.00022 or 1.4% Dow in Gold Dollars : $ 251.44 Dow in Gold Dollars 14-Feb-14 : $ 253.18 Change : -1.73 or -0.7% Dow in Gold Ounces : 12.164 Dow in Gold Ounces 14-Feb-14 : 12.247 Change : -0.08 or -0.7% Dow in Silver Ounces : 739.29 Dow in Silver Ounces 14-Feb-14 : 754.49 Change : -15.20 or -2.0% Dow Industrial : 16,103.30 Dow Industrial 14-Feb-14 : 16,154.39 Change : -51.09 or -0.3% S&P 500 : 1,836.25 S&P 500 14-Feb-14 : 1,838.63 Change : -2.38 or -0.1% US Dollar Index : 80.300 US Dollar Index 14-Feb-14 : 80.180 Change : 0.12 or 0.1% Platinum Price Close Today : 1,426.30 Platinum Price Close 14-Feb-14 : 1,428.50 Change : -2.20 or -0.2% Palladium Price Close Today : 740.00 Palladium Price Close 14-Feb-14 : 737.40 Change : 2.60 or 0.4% Silver and GOLD PRICES scored another successful week, suffering a small correction bravely met. Gold rose 0.4% for the week, silver 1.7%. Today gold won another $6.80 (0.5%) to $1,323.90. Silver inched up 9.8 cents (0.5%) to 2178.2c. After Tuesday's 2198c intraday high silver went into resting mode, but still never dropped lower than 2138c this week. This formation looks like a "pennant". Rule of thumb says, "Flags (and pennants) always fly at half staff," which gives this move a first target of about 2350c. Next week should witness silver jump up again. Y'all shouldn't underestimate the worth of silver and gold prices at last climbing above their 200 day moving averages. That points momentum upward after we have struggled more than two years in a correction, with silver beneath that 200 DMA most of the time. Last week the GOLD PRICE broke through $1,300 and $1,320 resistance. It's breathing and puffing here, but should reach $1,360 before it takes a real rest. Gold might drop as low as $1,280 without breaking this uptrend. On the weekly chart the gold price has risen plumb to the evil downtrend line from the August 2011 high, stands above the 20 week moving average and is kissing its 50 WMA. Confirmation comes when it passes the August high ($1,434), getting ready to challenge $1,550 where the April Agony occurred. The SILVER PRICE weekly chart shineth even more brightly. Silver has risen above its since-April 2011 downtrend line and is also kissing its 50 WMA. Silver and gold ought to have at least a week left to rally. But never mind anticipations, both have definitively turned up out of the 2011-2013 correction. And this rally will far surpass any gains silver or gold saw from 2001 - 2011. Read that again, because I mean it. The best and biggest gains are yet to come. If y'all miss that train, don't send me any post cards complaining I didn't warn y'all. One last time I'll remind y'all, if you ever want to swap gold for silver at spot ratios above 60:1, you'd better jump. We are swapping gold for silver now, targeting a swap back at 31;1 or better. Solid week for metals, making good last week's gains. Stocks struggled and still closed barely lower. US dollar index feebly rose. Dow measured in Silver and gold fell further. US DOLLAR INDEX did no more this week than validate the bottom boundary (79.95) of the range in force since September, 79.75 - 81.50. Today peeled off two basis points to fall to 80.30. Momentum is earthward. The euro, "The Manic Depressive Fiat Currency," rose again today. It's tightening up in a triangle that might shoot high but might also step through a rotten well cover. Today gained 0.14% to $1.3738. Japanese yen, lower by 0.22% today to 97.25, now hath fallen below its 20 day moving average. Should move lower, but barely. STOCKS closed lower this week. Out of six weeks this year, stocks have closed lower three. Today most indices fell, not much, just enough to break morale. Dow mislaid 29.93 (0.2%) to 16,103.30. S&P500 lost 3.53 (0.2%) to end at 1,836.25 Stocks are painfully fulfilling a broadening top formation. From here we may yet see slightly higher highs, or we may have seen them already. Either way, by end-May we ought to know. Future course is down. Investors ought to be selling stocks and rolling proceeds into silver and gold. Dow in gold lost another 0.43% to 12.14 oz. (G$250.96 gold dollars). Blamed thing has been falling so long I'm wondering if it's not time for a little rally. Dow in Silver is worse. It stands below the 200 DMA (741.24 oz) at 737.50 oz today, lower by 0.28%. What I want to see here is more downside, confirming that metals have reversed their downtrend against stocks. Long term downtrend line for Dow in Silver today hits about 580 oz, for gold about 10 oz, so we have a ways to fall for final confirmation. Be patient. Y'all enjoy your weekend! Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com © 2014, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold or 18 ounces of silver. or 18 ounces of silver. US $ and US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose. | |
| Fed knew about Libor rigging in 2008 but did nothing Posted: 21 Feb 2014 04:07 PM PST By Katherine Rushton http://www.telegraph.co.uk/finance/libor-scandal/10654977/Fed-knew-about... The US Federal Reserve knew about Libor rigging three years before the financial scandal exploded but did not take any firm action, documents have revealed. According to newly published transcripts of the central bank's meetings in the run-up to and immediate aftermath of the collapse of Lehman Brothers, a senior Fed official first flagged the issue at a policy meeting in April 2008. William Dudley expressed fears that banks were being dishonest in the way they were calculating the London interbank offered rate -- a global benchmark interest rate used as the basis for trillions of pounds of loans and financial contracts. ... Dispatch continues below ... ADVERTISEMENT Jim Sinclair plans seminars in Los Angeles and San Diego Gold advocate Jim Sinclair's next market analysis seminars will be held in Los Angeles from 11 a.m. to 2 p.m. on Saturday, March 8, and in San Diego from 2 to 6 p.m. the following day, Sunday, March 9. Details, including registration information, are posted at Sinclair's Internet site, JSMinset.com, here: http://www.jsmineset.com/qa-session-tickets/ "There is considerable evidence that the official Libor fixing understates the rates paid by many banks for funding," he said. He added that a newspaper report, which lifted the lid on some degree of manipulation, appeared to have triggered "an outbreak of veracity among at least some" bankers, who started reporting accurately the interest rates they offer each other, which are used to calculate Libor. Three years after his remarks, it emerged that traders at more than a dozen banks, including Lloyds, Royal Bank of Scotland, and Barclays, had routinely been trying to fix the official Libor rate to boost their own bonuses and profits. The scandal impacted the finances of tens of millions of ordinary households and businesses and dealt a devastating blow to the banking industry. Financial institutions have paid more than $5 billion (L3 billion) in fines to settle the matter with regulators in the US, UK, and the European Union. A dozen individuals have been criminally charged, and many others lost their jobs -- including Barclays' chief executive Bob Diamond and chairman Marcus Agius, who both resigned over the issue. The transcript of the Fed's April 2008 meeting raises questions about why the central bank did not move to properly tackle the scandal. There was no official regulator for Libor at the time, and officials at the US Federal Reserve tried to blame British authorities for allowing the benchmark interest rate to get out of control in the first place. The Fed may have been more than usually willing to gloss over the racket because of the other economic crises it faced at the time. The transcripts, published on Friday, show the members of the Federal Open Market Committee struggling to grasp the scale of the financial meltdown in 2008. Two days after US officials decided to let Lehman Brothers collapse in September 2008, Fed chairman Ben Bernanke was optimistic that it would be able to limit the fallout. "I think that our policy is looking actually pretty good," he said. "Our quick move [to reduce interest rates in early 2008], which was obviously very controversial and uncertain, was appropriate." As things turned out, an early cut in interest rates was far from sufficient to prevent the crisis that followed. The Fed declined to comment on the transcripts or why it had not taken firm action. However, as the crisis unfolded, Mr Bernanke evolved into an assured crisis manager, the transcripts show. They also reveal how farsighted his successor, Janet Yellen, was in predicting the financial crisis, back when she was president of its regional bank in San Francisco. Mrs Yellen, who took over as Fed chairman this month, saw the US economy "at, if not beyond, the brink of recession" in January 2008, the documents disclose. Most of the Fed's members were relatively upbeat or neutral about the economic outlook, but Mrs Yellen cut a Cassandra figure, as she predicted that deteriorating credit conditions and a slowdown in the labour market were likely to slow down growth. Join GATA here: Mines and Money Hong Kong http://www.minesandmoney.com/hongkong/ * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT A Personal Touch in Buying Precious Metals If you've not secured your allocation of precious metals and numismatic coins, 2014 may be the last year to get them at affordable and undervalued prices. With huge amounts of gold leaving the West for Asia, the future availability of precious metals is very much in doubt. All Pro Gold has competitive pricing on all bullion and numismatic products -- and offers prompt delivery too. Long-time GATA supporters Fred Goldstein and Tim Murphy are glad to answer any questions or concerns about acquiring the monetary metals. All Pro Gold has an extensive electronic library of articles from the world's top market analysts. Learn more at www.allprogold.com or write to Fred and Tim at info@allprogold.com or telephone them at 1-855-377-4653. | |
| Big Gold Stocks Buying Opportunity Posted: 21 Feb 2014 09:48 AM PST Gold stocks have been on fire this year, blasting higher to 2014’s pole position of best-performing sector. And this powerful rally’s internals are looking as good as its headline gains. The recent months’ gold-stock buying has been on big volume, with large capital inflows. This is very bullish behavior revealing a sea change in sentiment and strong conviction among returning gold-stock investors and speculators. | |
| The Counter-Intuitive Gold Play Posted: 21 Feb 2014 09:38 AM PST Gold has so far enjoyed a terrific start to the New Year, most recently closing at its highest level late October 2013. It has even succeeded in closing above its psychologically significant 200-day moving average for the first time in over a year. In summary, gold futures have risen over 12% through Feb. 18, reversing its biggest annual drop in over three decades. It also hit a three-month high on Tuesday. Holdings in ETFs backed by bullion increased by 3.2 metric tons last week - the greatest amount since December 2012 - after slumping 869.1 tons in 2013, when prices were down 28%. | |
| Gold and Silver Extend Their Price Rallies Amid Escalating Chinese Demand Posted: 21 Feb 2014 09:26 AM PST This week has seen precious metals prices rise strongly, with the bears caught on the hop. The chart below shows gold which at the time of writing has been consolidating under overhead supply in the $1330-50 level. | |
| All Currencies Are an Inverse Pyramid Based on The Dollar Posted: 21 Feb 2014 09:22 AM PST When US money supply measured by M2 stood at $11 trillion in December 2013, I calculate that total broad money of the next largest 50 countries ranked by GDP amounted to the equivalent of a further US$67 trillion at current exchange rates. And that's only on-balance sheet: we must add in global shadow banking, estimated by the Financial Stability Board to have been an extra $67 trillion in 2011, probably about $75 trillion today, given its recent rapid growth in China. So when we look at US broad money supply, we should be aware there is a further mountain of money thirteen times as big ultimately based on the dollar. | |
| Currency Wars the Great Destabilizer Posted: 21 Feb 2014 09:20 AM PST Dr. Karl Schiller, West Germany’s Economics Minister between 1966 and 1972, pithily pronounced that: “Stability is not everything, but without stability, everything is nothing.” I agree. In the economic sphere, instability is usually a “bad”, not a “good”. The world’s great destabilizer is the United States. How could this be? In the post-World War II era, the world has been on a U.S. dollar standard. Accordingly, the U.S. Federal Reserve is the de facto central banker for the world. |
We might be technically short-term overbought — I know people are concerned about that right now, but that's in the paper markets. You have to bear in mind that the physical market is at last exerting a lot more influence on the grip that the COMEX casino has had over these global bullion markets. I will explain exactly why this is in a moment, but let's take a measure of where we are here and now, and what's changed.
Yes it is that time again as next Tuesday is another option expiration for the precious metals on the Comex.
A bit of information…I mentioned a while back (when gold was trading closer to $1200 and the “gold is always manipulated all the time” crowd was crying up their usual blues,) that the reason gold was lower was not because it was being manipulated but rather because speculators were generally shunning commodities in general in favor of high flying equities.
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