Gold World News Flash |
- Gold Triangle Pattern
- In The News Today
- Breaking News: Central Banks Control Financial World
- Trading The Midline
- Our Path To Collapse Will Impact Everyone Around The World
- Show Premiere! CPM’s Jeff Christian Looks at Gold for 2013 – YouTube
- Silver’s Young Upleg
- Gold and the Wicked Magicians
- Gold or mining shares?
- Jim's Mailbox
- Misery Spread Widely
- Ronald Stoeferle On This Week’s Counterintuitive Gold Price Action
- Euro Gold Record Over 1,400 EUR/oz By Year End – Commerzbank | ZeroHedge
- Peter Schiff ~ Do Not Worry about The Fiscal Cliff but Worry about The Death of The Dollar
- Short-Free Price" For Silver is $101.35
- From High Frequency Trading To A Broken Market: A Primer In Two Parts
- Jim Rogers ~ Canada a Safer Place to Invest in 2013 than the US
- Silver Window of Opportunity @ $29.68 - $26.23 by Jan. 18?
- Marc Faber : There is so much smoke. I suppose there is some fire
- Marc Faber: No Fiscal Cliff Just Some Cosmetic Tax Increases
- How To Reduce International Dollar Debt and Insular Dollar Entitlement Payments
- 11 Reasons Europe Is Heading Into An Economic Depression
- Warning For Gold From Inflation, U.S. Dollar, And Mining Stocks!
- This Past Week in Gold
- Fed Policy of Phony Economic Growth Will Destroy the U.S. Dollar
- Harvesting Profits From Weak Hands in the Silver Market
- Gold and Silver: Of Cartels, Algorithms and Artificial Price Manipulation
- Gold Stocks Golden Points To Ponder
- Noting that markets have been destroyed, Chris Martenson earns his tinfoil hat
- New Video Roundtable
- Queen checks out Bank of England gold room
- Ronald Stoeferle: European Central Banks Are Repatriating Their Gold Germany, the Netherlands, and Austria are bringing home their gold reserves | James J Puplava CFP | FINANCIAL SENSE
- John Doody: Recent Volatility Just Noise; Gold Stocks Remain Very Attractive Why has the gold market been so slow to respond to QE3? | Erik Townsend | FINANCIAL SENSE
- Grant Williams: Expect More Wealth Taxes and Capital Controls Competitive currency devaluations great for the price of gold | James J Puplava CFP | FINANCIAL SENSE
- Inflation-Targeting Dead, Long Live Inflation
- Silver Investment Demand Soars In China
| Posted: 16 Dec 2012 09:00 AM PST There is currently a possible triangle pattern in play for Gold. We do not see the same pattern for Silver, but we can watch Gold for clues on which way it will breakout. We could see a breakout to the upside or downside. Gold is close to the lower trendline so a bearish breakout to the downside would be close. Gold must remain above 1685 for the bullish triangle pattern and 1672 for a possible larger correction. A break above 1715 and 1725 would suggest the breakout to the upside, but a move above 1755 would confirm it. |
| Posted: 16 Dec 2012 01:40 AM PST Jim Sinclair's Commentary From China. More bad news for the US dollar. War takes many forms. The enemy of my enemy is my friend. GB and the USA have been covertly at war with the Euro almost since it invention. At point USDX .90 to the dollar, not a problem, but at $1.01 the Continue reading In The News Today |
| Breaking News: Central Banks Control Financial World Posted: 15 Dec 2012 11:35 PM PST from Silver Vigilante:
This just in: CNBC is reporting that central banks are ruling the financial world. In an article published today called "Central Banks: How They Are Ruling the Financial World," From CNBC: Entities such as the Federal Reserve and the European Central Bank in 2012 took control of global economies like never before. Based on current market and economic behavior it's likely to be years before anything changes. Ok…well, thank you for that. In the following paragraph, CNBC offers some gross statistics that fall well-short of the reality of the situation. We are looking at a dominant financial system worth quadrillions of dollars in derivatives. Most of this equity is suffering from liquidity problems. Meaning, nobody wants it at this point, and so it passed among the holders of such derivatives so as to present the illusion of velocity. The velocity does not exist. |
| Posted: 15 Dec 2012 10:30 PM PST from TF Metals Report:
As you're well aware, the metals have been rangebound for all of 2012. As we enter the new year, where will price be and will the ranges hold? Correctly answering those questions holds the key to successfully forecasting the next big move. Admittedly I'm biased. Not only am I 100% confident of my long-term assessment, the short-term fundamentals seem extraordinarily positive, as well. To recap:
Here are two charts that you need to commit to memory as we turn the corner into 2013. The first is one we've printed here repeatedly. It shows the price of gold tracking the ever-increasing level of U.S. government debt. The second chart is one that I just found this week. It shows the price of gold this century and details the point made in the last bullet above. |
| Our Path To Collapse Will Impact Everyone Around The World Posted: 15 Dec 2012 09:30 PM PST from KingWorldNews:
You are going to see the same thing repeat itself over and over again. When you look at the decline in the value of the currency there in Rome. A common denominator in all of these civilizations is you first see it in morality. The moral structure or virtue of that empire declines. Its ethics begin to decline and decadence comes into society. That reveals itself in all aspects of society. It also reveals itself in the monetary system of those societies. During the days of Rome, what the authorities did, in order to counteract some of the decay in the civilization, was they began to resort to 'coin clipping.'" |
| Show Premiere! CPM’s Jeff Christian Looks at Gold for 2013 – YouTube Posted: 15 Dec 2012 08:56 PM PST Show Premiere! CPM’s Jeff Christian Looks... [[ This is a content summary only. Visit my website http://goldbasics.blogspot.com for full Content ]]  |
| Posted: 15 Dec 2012 08:30 PM PST from Adam Hamilton, Zeal Speculation and Investment:
As a hyper-volatile speculators' playground, silver has always been exceptionally sensitive to prevailing sentiment. While all prices are affected by their traders' collective greed and fear, silver's emotional roller coaster has higher peaks and deeper valleys. Silver can skyrocket on greed like no other commodity, but the other end of the sentiment pendulum's arc is equally extreme. Fear can depress silver for a long time. And lingering fear is what is plaguing silver sentiment today. For over a year leading into this past summer, silver suffered a massive correction following a near-parabolic surge to dazzling new secular-bull highs. Such a long period of crumbling prices naturally spawned incredible fear. So even after silver bottomed and birthed a major new upleg, traders remain depressed and skeptical of its potential. |
| Posted: 15 Dec 2012 08:00 PM PST by Steve Forbes, SilverBearCafe.com:
Amsterdam became a capital powerhouse in the 1600s and tiny Holland, a global empire. This was, in no small part, because its currency was firmly tied to gold. Ditto Britain in the 18th and 19th centuries with the pound. Germany and Japan quickly and miraculously rose from the rubble of World War II when they firmly fixed their currencies to the gold-backed dollar. |
| Posted: 15 Dec 2012 06:30 PM PST from Gold Money:
By owning physical gold you are protected from the above because physical metal does not have counterparty risk. But do you also want to own the shares of gold mining companies? There are two things that need to be considered to answer this question. |
| Posted: 15 Dec 2012 04:21 PM PST Jim Sinclair's Commentary CIGA Mike shares some good perspective with us all. Hi Jim, I read your website everyday and find it extremely beneficial for keeping one's perspective in today's chaotic world. Regarding perspective, I would like to inform your other readers that may have nervousness regarding gold's daily fluctuations to relax, as it Continue reading Jim's Mailbox |
| Posted: 15 Dec 2012 03:38 PM PST Via Gordon T. Long of GordonTLong.com, The 'something for nothing' mentality is now firmly in charge in the developed economies. As the G7 economies cascade lower under their past, present and future entitlement & politically connected reward policies, misery is now being spread widely! Misery being spread widely is the product of socialism, as real growth disappears and money printed out of thin air fills in for the lack of real income growth. All of this is paid for by the money you earn and store your wealth in, buying less and less, while your balance in the bank stays the same. The attacks on wealth and job creation are set to accelerate as politicians loot and plunder the private sectors to pay the unpayable promises and support those that don't produce, by dis-incenting and enslaving those that do. Effectively, penalizing those who lead a prudent and productive lifestyle. The cynical would argue that the goal is not to spur economic growth and job creation but instead is intended to formant economic collapse, grow government dependence, gather power as the man-made disaster unfolds, take freedoms and redistribute what wealth is left to the special interests in charge. This may very well be true but it could also be a matter of human nature and the generational re-learning of what role a government must be restricted to playing.
Recent Hurricane Sandy exposed once again the governments inability to execute even its most basic mandate - to serve the people. Grief stricken Americans heard plenty of platitudes by well meaning politicians, but the follow through was as usual found wanting by the destitute. The bureaucracy that the politicians supposedly run, with expanding central planning and control, simply couldn't deliver on its most basic responsibilities. The politicians focused on political goals of power and the redistribution of wealth through taxation, regulation and crony capitalism only add to the growing frustrations with the incompetence, inefficiency and shear neglect of the government. The bureaucrats have consistently failed the people and with their failure so will the healthcare, energy industry and financial systems. They have failed with the post office, social security, the public schools, medicare, medicaid, energy policy and everything else they have taken charge of in a supposed attempt to serve the people! Every generation learns these simple truths about governments and central planning, but always fall into the trap of expecting and relying on government versus themselves. The reality is people will sell their freedoms for what they perceive to be safety and security. Predictably and consistently they end up with neither safety not security.
Slowing Credit, CAPEX and Corporate Industrial Production are only three of the 'Canaries in the Coal Mine' that point out that the current bull market in government regulations and uncertainty is stymieing growth, innovation and risk taking. By avoiding and effectively "papering over pain" with unsound money and a litany of transfer payments, it doesn't allow nor force required societal change. It may 'kick the can down the road' by 'extending and pretending' but it only delays the inevitable. A degree of pain is needed to keep a society both healthy & vibrant. Without it you remove motivation and instill complacency, reduced risk taking and Misery Spread Widely.
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| Ronald Stoeferle On This Week’s Counterintuitive Gold Price Action Posted: 15 Dec 2012 02:24 PM PST On Wednesday 13th, 2012, the US Fed announced additional monetary stimulus in an attempt to make the economy grow. We wrote about the Fed's commitment to buy 85 billion US dollar per month in a bond buying program and keep the interest rates near zero till 2015. For the first time, to our knowledge, the Fed has committed publicly to work towards a target: the quantitative easing program will continue until the unemployment figure in the US drops from today's 7.7% till the intended 6.5%. Logically, the news would be in favor of gold and silver. The initial reaction of the gold price was indeed a positive one, and the silver price rose sharper, which was in line with the expectations of the market. In the overnight Asian trading, however, an unexpected and rather sharp drop occurred in both gold and silver. As we could not explain this price action, we asked the question to Ronald Stoeferle, one of the specialists. He is the editor of the well-known and respected "In Gold We Trust" reports and was our guest recently when he provided an update on the negative real interest rates. What follows is the view of Ronald Stoeferle specifically on the counterintuitive price action on Wednesday December 12th, 2012.
Only a week ago, we saw the proof for Ronald Stoeferle's point about the unemployment statistics. Right before the presidential election, the October unemployment figures suddenly reversed and showed a positive picture. A month later, a rather dramatic revision was announced by the Labor Department. The NY Times (amongst many others) reported the following: "Although job growth in November exceeded expectations, the Labor Department revised downward its figures for the preceding months. For September, the Labor Department said the economy created 132,000 jobs, down from an earlier estimate of 148,000, and the figure for October was lowered to 138,000 from 171,000." Indeed, the revision of the October statistics was about a 20% difference.
This article is based on a Q&A with Ronald Stoeferle. He is born October 27, 1980 in Vienna, Austria, is a Chartered Market Technician (CMT) and a Certified Financial Technician (CFTe). During his studies in business administration and finance at the Vienna University of Economics and the University of Illinois at Urbana-Champaign, he worked for Raiffeisen Zentralbank (RZB) in the field of Fixed Income/Credit Investments. After graduating from University, Stoeferle joined Vienna based Erste Group Bank, covering International Equities, especially Asia. In 2006, he began writing reports on gold and gained media attention when he expected the price of gold to rise to USD 2,300/ounce when the current price was only at USD 500. His six benchmark reports called "In GOLD we TRUST" drew international coverage on CNBC, Bloomberg, the Wall Street Journal, Economist and the Financial Times. He was awarded "2nd most accurate gold analyst" by Bloomberg in 2011. He also writes reports on crude oil. The latest oil report by Stoeferle, entitled "Nothing to Spare" was published earlier this year. Stoeferle is managing two gold mining funds and one fund with silver mining equities. As of December 2012, Stoeferle will become a partner of Liechtenstein based Incrementum AG. Contact Ronald Stoeferle at rps@incrementum.info
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| Euro Gold Record Over 1,400 EUR/oz By Year End – Commerzbank | ZeroHedge Posted: 15 Dec 2012 01:56 PM PST Today's AM fix was USD 1,723.25, EUR 1,349.66,... [[ This is a content summary only. Visit my website http://goldbasics.blogspot.com for full Content ]]  |
| Peter Schiff ~ Do Not Worry about The Fiscal Cliff but Worry about The Death of The Dollar Posted: 15 Dec 2012 12:49 PM PST Euro Pacific Precious Metals CEO Peter Schiff on... [[ This is a content summary only. Visit my website http://goldbasics.blogspot.com for full Content ]]  |
| Short-Free Price" For Silver is $101.35 Posted: 15 Dec 2012 12:41 PM PST Afcarl submits: "Short-Free Price" For Silver is $101.35 ( $33.11 + $68.24 ) Dollars Per Ounce: The Silver Short-Free Price or SFP, is simply the Silver Spot price ($33.11/oz) plus the price increase ($68.24/oz) that would result from the purchase of all the current Silver Short contracts on the COMEX (117,651 Contracts of 5000 oz per contract). As the number of Silver Short contracts are reduced to zero, the Silver "Short-Free Price" becomes equal to the Silver Spot price. |
| From High Frequency Trading To A Broken Market: A Primer In Two Parts Posted: 15 Dec 2012 12:26 PM PST One of the topics most often discussed on Zero Hedge before the wholesale takeover of capital markets by central planners was finally accepted by everyone, was the domination of market structure (first in equities, and now in commodities, FX and even credit) by new technologies such as High Frequency Trading as a result of a shift in the market to a technological platform domination, away from the specialist model, and one where the entire concept of discounting, the primary role of the market in the Old Normal, has been made redundant courtesy of a race to be the first to react to events (i.e., backward looking, and direct contravention with the primary function of markets) courtesy of milli- and nanosecond, collocated servers which collect pennies in front of steamroller and generate profits purely by "virtue" of being the first to trade. This new "technology paradigm" developed in the aftermath of the regulator complicit adoption of Reg NMS (and to a smaller extend Reg ATS) which unleashed a veritable cornucopia of "SkyNet"-controlled algorithmic traders, even as regulators did not and still do not, to this day understand all the evils that rapid technologization of the stock market has brought, most vividly captured in the May 2010 flash crash, and daily subsequent mini flash crashes, which have achieved one thing only: the total collapse of faith in the stock market by ordinary investors, who now see it for what it is (and always has been but to a far lesser extent) - a gamed casino, in which not only the house always wins and the regulators are either corrupt or clueless, or both. And while more and more "dumb money" Joe Sixpacks awake every day to the farce that is the stock market, one entity that continues to ignore it, whether due to its own incompetence, due to conflicts of interest, due to corruption, due to co-option, or for whatever other reason, are the regulators, in this case the Securities and Exchange Commission: arguably the most incapable entity to handle the topological nightmare that the current market landscape has become. Which is to be expected: after all only an idiot would expect that when the SEC invites a GETCO, or a DE Shaw to explain and observe the fragmentation of the market, and the evils brought upon by HFT, either in a closed session or before congress, that they would voluntarily expose their business for the parasitic fallout of what once was known as capital formation. After all, it is their bread and butter: to expect them to commit professional suicide by truly showcasing the ugliness beneath it all is beyond stupid. And the flip side are various fringe blogs, which must be relegated to the tinfoil crackpot ranks of conspiracy theorist (even as conspiracy theory after conspiracy theory becomes conspiracy fact after conspiracy fact). So instead of uttering one more word in a long, seemingly endless tirade that stretches all the way to April 2009, we will this time let such dignified members of the credible, veritable status quo as Credit Suisse, who have released a two part primer on everything HFT related, with an emphasis on the broken market left in the wake of the "high freaks", which is so simple even a member of congress will understand (we would say a member of the SEC, but even at this level of simplicity its comprehension by the rank and file of the SEC is arguable). As Credit Suisse conveniently points out "market manipulation is already banned", but that doesn't mean that there are numerous loophole that HFT can manifest themselves in negative strategies that have virtually the same impact on a two-tiered market (those that have access to HFT and those that do not) as manipulation. Among such strategies are:
So to all those who still foolish believe in a fair and efficient market: read on, because that concept died long ago, and every day you keep money in the market is one more in which the deck is stacked entirely in the house's favor, and on a long enough timeline, a total loss of capital is virtually assured. And for all the regulators, who are somehow still uncorrupted, unconflicted and uncoopted - those very, very few of you - and who still harbor a hope that one day retail investors may regain their faith in the stock market (a critical milestone needed to enable Bernanke's plan of rekindling the "animal spirits"), read on so you too can now what should be the focus of both regulation and enforcement in a world in which government supervision is several decades behind the curve.
Part 1: High Frequency Trading – The Good, The Bad, and The Regulation
Part 2: High Frequency Trading – Measurement, Detection and Response |
| Jim Rogers ~ Canada a Safer Place to Invest in 2013 than the US Posted: 15 Dec 2012 12:26 PM PST Jim Rogers – United States vs Canada... [[ This is a content summary only. Visit my website http://goldbasics.blogspot.com for full Content ]]  |
| Silver Window of Opportunity @ $29.68 - $26.23 by Jan. 18? Posted: 15 Dec 2012 12:22 PM PST Although a window of opportunity exists through January 18 to buy at levels 15%-20% below the current price, the much longer-term buying opportunity remains here and now, and all the way down (if you're lucky) - to the 26.23 level. Read More...  |
| Marc Faber : There is so much smoke. I suppose there is some fire Posted: 15 Dec 2012 12:13 PM PST Marc Faber : "There is so much smoke. I suppose... [[ This is a content summary only. Visit my website http://goldbasics.blogspot.com for full Content ]]  |
| Marc Faber: No Fiscal Cliff Just Some Cosmetic Tax Increases Posted: 15 Dec 2012 12:07 PM PST Marc Faber: I do not believe there will be a... [[ This is a content summary only. Visit my website http://goldbasics.blogspot.com for full Content ]]  |
| How To Reduce International Dollar Debt and Insular Dollar Entitlement Payments Posted: 15 Dec 2012 11:57 AM PST Hi Jim, In his last report, John Williams expects hyperinflation by the end of 2014. He has advised (in an interview separate from his most recent report) that when this happens, the purchasing power of the US Dollar will collapse and in about six months a new currency will be issued. All of this Continue reading How To Reduce International Dollar Debt and Insular Dollar Entitlement Payments |
| 11 Reasons Europe Is Heading Into An Economic Depression Posted: 15 Dec 2012 11:54 AM PST  Officials over in Europe are trying to hold the European financial system together with duct tape and prayers, but it could literally fall apart at any moment. Europe has a much larger banking system than the United States does, so when a financial collapse happens in Europe, it is going to be very significant for the entire globe. Sadly, most Americans do not even pay attention to much of anything that is happening in Europe. They tend to think that the United States is the center of the universe and that as long as we are fine that everything will be okay. Well, all of those people who are not paying attention need to wake up. First of all, the U.S. economy is most definitely in decline. Secondly, the European economy is imploding right in front of our eyes and Europe is going to end up dragging the entire globe down with it. The following are 11 facts that show that Europe is heading into an economic depression…Read more....  This posting includes an audio/video/photo media file: Download Now |
| Warning For Gold From Inflation, U.S. Dollar, And Mining Stocks! Posted: 15 Dec 2012 10:01 AM PST Historically gold has been seen as a safe haven in times of rising inflation. No surprise then that it’s been in a long and impressive bull market since 2002, when a string of significant events began that were expected to create a substantial surge in inflation. The 2001 recession resulted in significant monetary easing by the Fed in an effort to re-stimulate the economy. The 9/11/01 terrorist attacks resulted in dramatic increases in government spending on Homeland Security and the subsequent invasions of Afghanistan and Iraq. |
| Posted: 15 Dec 2012 10:00 AM PST Summary: Long term - on major sell signal. Short term - on mixed signals. Gold sector cycle - down as of Oct 13. Read More...  |
| Fed Policy of Phony Economic Growth Will Destroy the U.S. Dollar Posted: 15 Dec 2012 09:53 AM PST By upping the ante once again in its gamble to revive the lethargic economy through monetary action, the Federal Reserve's Open Market Committee is now compelling the rest of us to buy into a game that we may not be able to afford. At his press conference this week, Fed Chairman Bernanke explained how the easiest policy stance in Fed history has just gotten that much easier. First it gave us zero interest rates, then QEs I and II, Operation Twist, and finally "unlimited" QE3. |
| Harvesting Profits From Weak Hands in the Silver Market Posted: 15 Dec 2012 09:44 AM PST In financial market jargon, those investors described as having “weak hands” typically means that they cannot hold onto a position they have established for very long if it goes against them substantially. This term is often used to contrast such investors to those with “deep pockets” who can instead afford to take deeper drawdowns in their portfolio before they feel the need to exit their positions. |
| Gold and Silver: Of Cartels, Algorithms and Artificial Price Manipulation Posted: 15 Dec 2012 09:42 AM PST Those who follow the day to day developments in the gold and silver markets have typically seen rampant market manipulation by large traders and bullion banks. Although supposedly against the rules — and even being subjected to an ongoing investigation by the CFTC that now reaches into its fifth year — this market bullying is nevertheless allowed to happen over and over again without effective regulatory intervention. |
| Gold Stocks Golden Points To Ponder Posted: 15 Dec 2012 09:39 AM PST Investors seeking leverage to precious metals should focus on junior resource companies who own the world's undeveloped gold and silver deposits as they provide the best exposure to a rising precious metals price environment. You need to find the quality management teams with money in the treasury, the ability to raise more and owning the advanced projects that are well along the development path towards a mine. |
| Noting that markets have been destroyed, Chris Martenson earns his tinfoil hat Posted: 15 Dec 2012 09:30 AM PST 11:38a ET Saturday, December 15, 2012 Dear Friend of GATA and Gold: With his commentary this week Chris Martenson became the latest financial writer to earn his tinfoil hat. "Once upon a time," Martenson writes, perhaps with a weary glance at GATA, "it would have been considered in bad taste to suggest that the world was being centrally managed in secret by a smallish cabal of bankers whose actions served to either prop up the excessive spending habits of the very governments that conferred upon them the power to print money or to bolster the health and profits of the banks they mainly serve. That was then. Today you can just read about it in the Wall Street Journal." Martenson then cites a report from Wednesday's Wall Street Journal about central bankers having lovely dinners at private meetings at the Bank for International Settlements in Basel, Switzerland, during which they secretly experiment with and decide the fate of the world -- http://online.wsj.com/article/SB1000142412788732371700457815715246448659... -- a report that your secretary/treasurer didn't even bother to call to your attention because you have heard it dozens of times from GATA already. ... Dispatch continues below ... ADVERTISEMENT Opinion Around the World Is Changing When Deutschebank calls gold "good money" and paper "bad money". ... http://www.gata.org/node/11765 When the president of the German central bank, the Bundesbank, pays tribute to gold as "a timeless classic". ... http://www.forbes.com/sites/ralphbenko/2012/09/24/signs-of-the-gold-stan... When a leading member of the policy committee of the People's Bank of China calls the gold standard "an excellent monetary system". ... http://www.forbes.com/sites/ralphbenko/2012/10/01/signs-of-the-gold-stan... When a CNN reporter writes in The China Post that the "gold commission" plank in the 2012 Republican platform will "reverberate around the world". ... http://www.thegoldstandardnow.org/key-blogs/1563-china-post-the-gop-gold... When the Subcommittee on Domestic Monetary Policy of the U.S. House of Representatives twice called on economist, historian, and gold standard advocate Lewis E. Lehrman to testify. ... World opinion is changing in favor of gold. How can you learn why and what it will mean to you? Read the newly updated and expanded edition of Lehrman's book, "The True Gold Standard." Financial journalist James Grant says of "The True Gold Standard": "If you have ever wondered how the world can get from here to there -- from the chaos of depreciating paper to a convertible currency worthy of our children and our grandchildren -- wonder no more. The answer, brilliantly expounded, is between these covers. America has long needed a modern Alexander Hamilton. In Lewis E. Lehrman she has finally found him." To buy a copy of "The True Gold Standard," please visit: http://www.thegoldstandardnow.com/publications/the-true-gold-standard Turning to gold, Martenson writes: "I don't really think that gold's current market price or recent behavior have anything useful to do with gold's value here. ... [S]ome entity has been selling literally thousands and thousands of gold contracts into the thinly traded overnight markets so rapidly that we have to use millisecond charting to see it for what it is. Again, there is no other legitimate explanation for this activity of which I am aware besides having an intent of pushing the price down. "Whether there is some motivation for this activity besides 'making money,' I remain convinced that the gold market, like many others, is no longer sending useful price signals. Instead it is telling us that some entity has found it useful to sell thousands of gold contracts all at once. "The interesting part of this story is that this has been the most sustained, intensive, and yet ineffective gold selling that I have yet seen. In the past, such bear raids, as they are called, would have resulted in a sharply lower gold price. Right now that has not yet really happened. "I am wondering if a big up move is not right around the corner for gold. I can tell you that if even one fourth of the recent quantitative easing effort was announced five years ago, markets would have exploded and gold would have absolutely launched." Martenson's commentary, posted at his Internet site, Peak Prosperity, begins with "QE 4: Folks, This Ain't Normal" -- http://www.peakprosperity.com/blog/80251/qe-4-folks-aint-normal -- and concludes with "My Thoughts on Gold": http://www.peakprosperity.com/insider/80252/better-year-early-day-late Quite apart from the extensive documentation GATA has published of central banking's gold price suppression scheme -- http://www.gata.org/taxonomy/term/21 -- including, last week, still another smoking gun (actually, more like a howitzer), the International Monetary Fund's 1999 report explaining that central banks insist on concealing their gold loans and swaps to facilitate secret market intervention -- http://www.gata.org/node/12016 -- gold price suppression particularly and commodity price suppression generally are only the logical consequences of central banking's purpose and policy of inflation. The British economist Peter Warburton figured this out a decade ago long before GATA had amassed most of its documentation of central banking's continuing war against gold: None of this can be discussed in the polite company of the mainstream financial news media because if it was ever understood that there are no markets anymore, just interventions (http://www.gata.org/node/6242), everything about the markets would fall apart as the participants left in search of other methods of at least preserving if not growing their wealth. Martenson suggests as much: "The markets are now well and truly broken -- not because they don't conform to my predictions but because they are no longer sending useful price signals. Instead, my hypothesis here is that the markets are now just a giant and rigged casino." GATA Chairman Bill Murphy and your secretary/treasurer hope to discuss these points next Tuesday afternoon on the "Capital Account" program hosted by Lauren Lyster on the Russia Today network, which lately is sort of like Radio Free America. CHRIS POWELL, Secretary/Treasurer Join GATA here: Vancouver Resource Investment Conference * * * 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 Fred Goldstein and Tim Murphy open All Pro Gold Longtime GATA supporters Fred Goldstein and Tim Murphy have brought their many years of experience in the precious metals and numismatic coins to All Pro Gold as metals brokers who specialize in the delivery of gold and silver bullion bars and coins as well as numismatic gold and silver coins. Fred and Tim follow these markets closely and are assisted by a team of consultants in monitoring market trends. All Pro Gold offers GATA supporters competitive pricing on all bullion products and welcomes inquiries. Tim can be reached at 602-299-2585 and Tim@allprogold.com, Fred at 602-799-8378 and Fred@allprogold.com. Ask about their ratio strategy and the relationship of generic $20 dollar gold pieces to 1-ounce gold bullion coins. Visit their Internet site at http://www.allprogold.com/. |
| Posted: 15 Dec 2012 08:57 AM PST Pete Grant, Jonathan Kosares and George Cooper review 2012 and discuss what we might expect in 2013 "In the end, gold is finishing the year just shy of 10% higher that where it started. A respectable showing in an uncertain landscape. While it may not be entirely reflected in the price, gold demand at USAGOLD has picked up sharply following the election . . . . " |
| Queen checks out Bank of England gold room Posted: 15 Dec 2012 08:48 AM PST News, Commentary & Analysis Special Report |
| Posted: 15 Dec 2012 06:52 AM PST Jim welcomes back Ronald Stoeferle CMT, author of... [[ This is a content summary only. Visit my website http://goldbasics.blogspot.com for full Content ]]  |
| Posted: 15 Dec 2012 06:51 AM PST Erik Townsend sits in for Jim and welcomes John... [[ This is a content summary only. Visit my website http://goldbasics.blogspot.com for full Content ]]  |
| Posted: 15 Dec 2012 06:49 AM PST Jim is pleased to welcome back Grant Williams,... [[ This is a content summary only. Visit my website http://goldbasics.blogspot.com for full Content ]]  |
| Inflation-Targeting Dead, Long Live Inflation Posted: 15 Dec 2012 12:26 AM PST Bullion Vault |
| Silver Investment Demand Soars In China Posted: 14 Dec 2012 10:52 PM PST The use of silver as a monetary asset in China goes back for centuries. As detailed in the latest report from the Silver Institute, China's entire monetary system was based on a silver standard until 1935. Things changed dramatically after the Communists came to power in 1949 and effectively nationalized the entire silver stock. Private [...] |
"I found that chart fascinating. As a student of history it just speaks to me. But I look at that and I see very similar parallels to what's going one here in the US. You could take this chart and change the title out and in a sense substitute any great nation, any great empire or kingdom from the past.
Although you wouldn't know it from listening to all the bearish commentary out there, silver is actually enjoying a strong young upleg. Its technicals are very bullish, contradicting the prevailing pessimism gripping traders. This glaring disconnect between price action and sentiment won't last forever. It has hammered silver stocks to depressed levels that offer a smorgasbord of opportunity for brave contrarians.
Why is there such hostility toward a return to a gold standard? After all, the U.S. prospered mightily by tying the dollar to gold from 1791 to 1971. (The exception was during the Civil War, but the link was resumed in the 1870s.) Other factors were at work, of course, but the sound dollar was critical to our phenomenal success.
There are many reasons to own physical gold. They arise from the financial and monetary uncertainty impacting investors around the globe. Some of the more obvious reasons are:
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