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Sunday, July 26, 2015

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saveyourassetsfirst3

Banksters Unleash a Golden, Drive-by Shooting

Posted: 26 Jul 2015 09:00 AM PDT

In the late-evening hours last Sunday evening, gold (along with silver, platinum, and copper) was taken to the cleaners. The powerful clotheslining began with "someone" machine-gunning the entire the metals complex, particularly gold.   How powerful was it?  Take a look at this chart:   Submitted by The Wealth Watchman: I'd had an eerie feeling all […]

The post Banksters Unleash a Golden, Drive-by Shooting appeared first on Silver Doctors.

Martin Armstrong calls cyclical bottom for gold prices, now to $5,000?

Posted: 25 Jul 2015 11:35 PM PDT

Famously controversial futurologist, economist and business cycle expert Martin Armstrong, who forecast '$5,000+' an ounce gold for 2016 on November 7th 2009 more than five years ago, now says gold touched rock bottom last week.

His website comment last week said: ‘If we hold $1,084 for the weekly closing, then we can see a two week bounce and everyone will proclaim the low, so hurry up and buy more.’

Gold’s rising now

Gold bounced back to $1,099 at the close of last week, comfortably beating this bottom-marker and proclaiming the end of the recent sell-off.

The precious metal has tested a critical 50 per cent retracement of its bull market run. That is to say it fell to the mid-point between its $1,923 top in 2011 and $247 starting point in 2000.

Dr. Armstrong’s doomsday downside to the gold price is now not going to happen. He had warned: ‘If we close below these numbers, then we can see a two week panic to the downside and a test of the 1980 high. If that unfolds, then the latter target may be further down. So we play it by the numbers.’

So will gold prices now head to $5,000-plus as the world enters a second global financial crisis of unimaginable dimensions? That is what this forecaster said would happen next year more than five years ago (click here).

He’s been right many times before, and his prognosis for the gold price outlook in 2009 was also very accurate… Back then he commented: ‘We should see a temporary high in 2010-11 with a retest of support in 2012-13 with a rally into 2016.' He also got the 'explosive rally' of 2011 spot on target.

Debt deflation spiral

The crucial difference between Dr. Armstrong and most gold forecasters is that he has always argued that it would not be consumer price inflation that sent gold prices rocketing upwards but a general loss of confidence in governments and by extension paper money or sovereign bonds in a period of deflation.

And what are we seeing today as China deals with its stock market crash and the eurozone struggles with Greece? Deflation led by commodity prices and a loss of liquidity as bond markets dry up. The US is not going to be immune from these pressures, and is also carrying a huge debt.

Gold may have just had its nemesis, the real problems are just starting for other asset classes.

Have global equities just started their decline and fall?

Posted: 25 Jul 2015 10:25 PM PDT

It is very hard to call a turning market correctly. However, last week global stocks had their worst week of the year as commodities slumped and the dollar strengthened amid fresh signs of a slowdown in China and the US housing market.

The commodity collapse that sent gold to a five-year low and pulled crude oil into a bear market isn't showing any signs of slowing down. The Bloomberg Commodities Index dropped 1.2 percent.

Falling indices

Meanwhile, the MSCI All-Country World Index and the Standard & Poor's 500 Index both fell more than one per cent. Emerging-market stocks retreated 1.5 per cent. That’s not nearly enough to be definite about a market reversal but clearly it could be.

Commodities paint a different picture. The Bloomberg Commodity Index fell 4.4 per cent last week, extending a drop to a 13-year low. The measure has tumbled about 28 per cent over the past 12 months amid expanding gluts. Gold prices shows signs of bottoming out.

Shares of Freeport-McMoRan, the biggest publicly traded copper producer, had the worst week since 2008 as the metal dropped to a six-year low in New York. Brent oil completed its longest run of weekly declines since January. Oil and copper prices could also be close to bottoms.

China crisis

Fresh evidence of the slowdown in China, the world's top consumer of metals, grains and energy, helped prices extend losses on Friday. A private gauge of Chinese manufacturing fell to a 15-month low.

In the US, purchases of new homes unexpectedly retreated in June and prior readings were revised down. An index of homebuilders decreased 2.6 per cent.

Amid the disappointing economic data, investors also noted a lackluster US earnings season, with sluggish demand overseas damping returns for multinational companies at the same time the dollar has strengthened to near the highest level since April. Is the dollar now close to a top?

Earnings slow

From Apple to Caterpillar and Microsoft, blue chips have disappointed investors in the past two weeks. The impact is having the biggest impact on the Dow Jones Industrial Average, giving it the worst week since January.

Treasuries gained for a second week as sliding commodity prices kept the market's inflation outlook at almost its lowest since March. Skepticism about the Fed’s ability to raise rates this autumn is rising.

The MSCI Emerging Markets Index lost 3.4 per cent last week with the Shanghai Composite Index down 1.3 per cent, possibly marking the end of a dead cat bounce from its recent crash.

Reading last week as a quiet week is probably a mistake as the cycle is now turning and the direction it is going is pretty clear right across the board.

Oil heading down to $36 on US production surge?

Posted: 25 Jul 2015 09:57 PM PDT

Is oil heading to $36 a barrel as the US ramps up production? This is a bit like the case for $800 gold. Possible but not very likely, and not likely to last for long if it were to happen.

Trader Brian Kelly makes the fundamental case for even lower oil prices…


Video link click here!

Shock Report: China Dumps Half a Trillion Dollars: “Something Is Very, Very Wrong”

Posted: 24 Jul 2015 03:30 PM PDT

Forget about what stock markets are doing because that is just a diversion…   Submitted by Mac Slavo, SHTFPlan: We've recently reported that China is preparing for something very big in currency markets this October. We then learned that economic models from two very well known financial forecasters are predicting that governments around the world will run into […]

The post Shock Report: China Dumps Half a Trillion Dollars: "Something Is Very, Very Wrong" appeared first on Silver Doctors.
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