Gold World News Flash |
- How to Up Your Investing IQ with Gold Stocks 2013
- Why Gold Price MUST Go Higher 2013
- The Relationship between Gold and Crude Oil Price
- Jim Roger Sees "Overdue Correction" Hitting Gold as Unleveraged Money Buys 3-Month Lows
- Asian Metals Market Update
- 20 Signs That The U.S. Poverty Explosion Is Hitting Children And Young People The Hardest
- QE4 Ever: Emerging Signs of A New Global Crisis
- Gold Confiscation? Will the Chinese Yuan replace the US Dollar? Julian Phillips on GoldSeek.com TV
- Rising Economic Powerhouse Brazil Hungry for Gold
- Rosen: Most Important & Informative Chart Available Anywhere
- GoldSeek.com TV: Gold Confiscation? Will the Chinese Yuan replace the US Dollar? An interview with Julian Phillips
- James Turk: Anti-Gold Propaganda Won’t Stop Monetary Destruction
- Silver Update 12/19/12 Stack The Smack
- China claims biggest global silver market
- Japan’s Export Debacle: Revenge In China, A Crash In Europe, Offshoring All Around
- The Gold Price Closed Down Slightly Remember to be Patient it's a Primary Uptrend
- The One Single Reason Why We're Going Over the Fiscal Cliff
- Peter Schiff Blog: The Federal Reserve Is 100% Committed To The Destruction Of The Dollar
- Jim Rogers Blog: Gold: Just Be Careful, There Are Too May Bulls
- Jim Rogers Blog: Gold: 30 Percent Corrections Are Normal Even In Big Bull Markets
- It Really Is Different (Again) This Time
- What Can 1 Ounce Of Gold Buy? | Commodity HQ
- Doug Casey on the Fiscal Cliff
- Gold Daily and Silver Weekly Charts
- Leeb talks gold market manipulation and gold backing for China's yuan
- Gold Seeker Closing Report: Gold and Silver Fall With Stocks
- Jobs, the Fed... and Gold
- Why Gold MUST Go Higher
- Confiscation of Gold - Then What? (Part 2/4)
- Kyle Bass on the End of the Debt Supercycle
- Diplomat Admits China Is Accumulating Gold To Back The Yuan
- Where the Relationship between Gold and Oil Works and Where It Does Not
- Jobs, the Fed… and Gold
- Report that Russia Has Issued Gold and Silver Coins Which Can Be Used As Legal Tender
- Q: What's Wrong With Gold?!?!
- Lars Schall: Bundesbank refuses candid and complete answers about gold
| How to Up Your Investing IQ with Gold Stocks 2013 Posted: 20 Dec 2012 12:53 AM PST Have you ever actually held gold in your hands? Byron King, editor of the Outstanding Investments and Energy & Scarcity Investor newsletters, suggests that you do. But becoming a smart investor shouldn't just be about physical gold, King says. He also encourages investors to use investments in gold mining juniors to increase their exposure to precious metals. Read on in this Gold Report interview to find out the handful of companies he's expecting to shake up the market in 2013. The Gold Report: Byron, many gold investors spent the early part of December exiting their long positions in gold. Is 2013 the year the gold bull market ends? |
| Why Gold Price MUST Go Higher 2013 Posted: 20 Dec 2012 12:48 AM PST Ooops! Just when everyone said gold must go higher – immediately...! MARKETS are made of opinions, some better than others. There are always plenty of opinions about gold. And right now they're clearly making the market. Just not in the way you would think. |
| The Relationship between Gold and Crude Oil Price Posted: 20 Dec 2012 12:34 AM PST In the financial markets, gold is usually ascribed to the commodities category. In this group of assets you will find your good old friend, silver, along with several others metals like platinum, palladium, copper etc. Apart from that, commodities encompass a broad range of other products in the like of corn, but also crude oil, gas, minerals and other. Such groups of assets are usually traded on commodity exchanges specialized in this kind of products, for instance on the Chicago Mercantile Exchange or the London Metal Exchange. |
| Jim Roger Sees "Overdue Correction" Hitting Gold as Unleveraged Money Buys 3-Month Lows Posted: 20 Dec 2012 12:10 AM PST PRICES to buy gold with Dollars rallied from their lowest levels since late August on Wednesday morning in London, recovering 0.7% from yesterday's drop to $1662 per ounce. The drop came as Greece was upgraded Tuesday by the S&P ratings agency from "selective default" to "junk" status, following payment of the latest €34.3 billion in new loans from Greece's Eurozone partners. |
| Posted: 20 Dec 2012 12:01 AM PST Gold and silver can only rise if there is short covering as traders start to leave for their Christmas and New Year Vacations. If there is no short covering either today or tomorrow then one can expect more losses today as well as tomorrow. Copper is bearish but will prefer to use any $10-$15 dips to invest for the short term. |
| 20 Signs That The U.S. Poverty Explosion Is Hitting Children And Young People The Hardest Posted: 20 Dec 2012 12:00 AM PST from The Economic Collapse Blog:
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| QE4 Ever: Emerging Signs of A New Global Crisis Posted: 19 Dec 2012 11:50 PM PST A more than one trillion dollar debasement in 2013 is now apparent. Last week, the Federal Reserve announced an expansion of its bond-buying program consisting in large scale purchases of long-term treasury securities. |
| Gold Confiscation? Will the Chinese Yuan replace the US Dollar? Julian Phillips on GoldSeek.com TV Posted: 19 Dec 2012 10:30 PM PST from Gold Seek: |
| Rising Economic Powerhouse Brazil Hungry for Gold Posted: 19 Dec 2012 10:13 PM PST [url]http://www.traderdannorcini.blogspot.com/[/url] [url]http://www.fortwealth.com/[/url] Reports coming out of the IMF indicate that Brazil has DOUBLED its holdings of gold since the end of August of this year. It is now officially holding 2.18 million ounces compared to 1.08 million ounces at the end of August. IMF data reveals that Brazil purchased 472,000 ounces in November. Also, the World Gold Council is reporting that it expects official sector gold demand (Central Banks) to reach 500 tons this year, eclipsing last year's reported 457 tons of the metal. It is evident that these up and coming economic powerhouses such as Brazil are moving to begin diversifying their burgeoning reserves. This is the reason why the physical gold market will continue to provide a strong floor of support beneath gold on price setbacks of the nature that we are currently undergoing. Setbacks like this merely move the gold from weak hands to strong hands. Hedge funds are NOT STRONG HANDS - they... |
| Rosen: Most Important & Informative Chart Available Anywhere Posted: 19 Dec 2012 10:01 PM PST  On the heels of some wild trading action this week in the gold, silver and stock markets, today 54-year market veteran and analyst Ron Rosen sent King World News a fascinating piece. Rosen believes we are headed for some extremely violent trading in 2013, and that this gold and silver bull market will dwarf that of the 1970s.This posting includes an audio/video/photo media file: Download Now |
| Posted: 19 Dec 2012 10:00 PM PST GoldSeek.com TV presents an exclusive interview with South Africa's top gold analyst, Julian Phillips (www.GoldForecaster.com). He discusses several topics with interviewer Jonathan Roth (www.GoldSeek.com), including: - Will the Chinese Yuan replace the US Dollar as the world's reserve currency? - Will gold continue to climb while paper currencies depreciate? - Could gold be confiscated by national governments? Taped on-location in Johannesburg, South Africa. |
| James Turk: Anti-Gold Propaganda Won’t Stop Monetary Destruction Posted: 19 Dec 2012 09:30 PM PST from KingWorldNews:
Eric King: "You brought up whether it's really gold (we were seeing in the Bank of England's gold vault? We don't know what we were looking at in that vault." Turk: "Yes. And we don't really know what's sitting in Fort Knox, if anything. You know they (central banks) operate behind closed doors, Eric, and you just sort of have to believe…" |
| Silver Update 12/19/12 Stack The Smack Posted: 19 Dec 2012 08:34 PM PST from BrotherJohnF: |
| China claims biggest global silver market Posted: 19 Dec 2012 08:30 PM PST by Wu Yiyao, China Daily:
The Washington-based Silver Institute said total silver demand in China increased by more than 100 million ounces, or Moz, in the past 10 years, to a record of 170.7 Moz in 2011. China has been liberalizing its silver market since the start of 2000, creating more investment channels for buyers and sellers of silver. In 2009, the country started offering investors the chance to buy silver bullion bars, and within two years the net demand for silver bars and coins soared to 17 million Moz, equivalent to some $600 million, making up 8 percent of global net purchases, said the report, compiled by Thomson Reuters GFMS. |
| Japan’s Export Debacle: Revenge In China, A Crash In Europe, Offshoring All Around Posted: 19 Dec 2012 07:48 PM PST Wolf Richter www.testosteronepit.com www.amazon.com/author/wolfrichter One of the pillars of the Japanese economy has been its exports. That pillar has been crumbling for years, but the deterioration this year has progressed at a phenomenal pace. At fault: China and Europe. But beyond the noise, Japanese companies have been investing their valuable yen overseas, and it’s making the deficit structural. An ugly combination. In November, exports (¥4.98 trillion) dropped 4.1% from last year (customs report), while imports (¥5.94 trillion) rose 0.8%, for a total trade deficit of ¥953.4 billion. Through November, the cumulative trade deficit of ¥6.3 trillion, an all-time record, was 185% higher than during the same period last year! Largely due to a breathtaking collapse in exports to China and Europe. Exports to China (¥858.7 billion) skidded 14.5%, with construction materials plunging 75% and cars 68%. It was part of China’s well-orchestrated commercial and popular anti-Japanese response to the Senkaku Islands “dispute”—in quotes because Japan insists that there is no “dispute,” the islands being Japanese, period. By getting Chinese consumers and businesses riled up against Japanese brands, the Chinese government has exercised commercial revenge where it hurts Japan the most. But that hasn’t kept the Japanese from buying Chinese products—an indication of just how much Japan has become dependent on them: imports (¥1,406.2 billion) were 5.8% higher than last year. The total deficit with China reached ¥547.5 billion. Not too long ago, Japan had a trade surplus with China. Enthusiasm among Japanese businesses established in China has tapered off though: only 52.3% are now considering expanding operations in China over the next two years, a nosedive from 66.7% last year, according to a new survey. But 42% are planning on maintaining the status quo, up from 29%. And 5.7% would cut back operations, a smidgen above last year. No massive exodus. Just less enthusiasm for expansion. The last time that happened was in 2008 during the financial crisis; not a good omen. Cited reason: the tightening Chinese economy and the changing business environment, along with the impact of the Senkaku Islands imbroglio. The most serious managerial problem for Japanese companies in China? Rising wages! While Japanese exports to China were awful, exports to Europe were catastrophic. It didn’t have anything to do with a temporary “dispute” of any kind, but with the real economy in Europe. If trade is any indication—and it is—economic activity in Europe is going downhill faster than other measures are leading us to believe. Exports to Europe fell to ¥501.6 billion, down 20% from November 2011! Even to economic stalwart Germany, exports fell 14.1%; to France, which is getting deeper and deeper into trouble, they plummeted 25.5%, to Italy 29.3%, to Sweden 32.8%, to the UK (!) 34.4%.... That these countries have cut back their purchases to such an extraordinary extent is bad news for Japan—and an abysmal indicator for Europe. However, exports to the US rose 5.3% to ¥933.8 billion, while imports from the US (indeed, there are still some!) fell 5.5% to ¥453.8 billion, for a trade surplus of ¥453.8 billion, a 19.8% jump. The Japanese are thanking their deities and spirits right now that American consumers are borrowing themselves into a hole again. Beyond the screeching noise in China and Europe? Japan’s export debacle is becoming structural as companies have invested heavily overseas—and hugely so in China—to manufacture directly in their markets, rather than in Japan. US companies have perfected offshoring years ago. Japanese companies are perfecting it now. And the strong yen is making it more efficient still. Unperturbed by reality, or rather high on the whiff of unlimited money-printing by the Bank of Japan and boundless deficit spending by the new government, the Nikkei rallied and broke through the 10,000 mark for the first time since April [for the turf war between the BoJ and the MoF, read.... Japan’s NO EXIT Strategy]. There was hope too. The hope that fiscal irresponsibility driven to the extreme and central bank printing operations also driven to the extreme would slam the yen so that it might catch up in the race, instigated by the Fed, to the bottom. “Paradox” is what the New York Times called France’s ability to attract more foreign investment than any country other than China and the US. A paradox because it shouldn’t happen. Foreign companies should be scared off by labor laws, tax rates, the cost of labor, and the threat of nationalizations. Turns out, multinational corporations pay practically no income taxes in France. And it has reached the boiling point. Read.... A Revolt Against Corporate Welfare Programs For Multinationals In France. |
| The Gold Price Closed Down Slightly Remember to be Patient it's a Primary Uptrend Posted: 19 Dec 2012 07:30 PM PST Gold Price Close Today : 1,666.70 Change : -1.80 or -0.11% Silver Price Close Today : 31.12 Change : -0.48 or -1.52% Gold Silver Ratio Today : 53.60 Change : 0.76 or 1.43% Yesterday the GOLD PRICE went down & pierced its 200 day moving average ($1,663.33) with a $1,662.70 low, but todays $1,666.90 low didn't touch it. Gold has its feet tangled in its 150 DMA (1,669.56) & 200 DMA. Todays high poked up to $1,676.41. All this speaks three ways: it might have reached its lower limit, it might sink to $1,645 where the June 2012 low uptrend line will catch it, or it might sink to $1,620 - $1,600 where the downtrend from the September 2011 high will catch it. The GOLD PRICE had a lot of positive sentiment to work off. That's what corrections are all about, the market pendulum swinging from way-too-optimistic to way-too-pessimistic, before it swings back to way-too-optimistic. What we want for gold is REALLY negative sentiment, lots more of those internet articles that are now starting to appear calling for gold at $1,400 or lower. Of course, these all come from the folks who were also wrong when gold stood at $1,800. The SILVER PRICE went through the 300 DMA (3135) and almost to the 200 DMA (3086c). That 200 also stands even with the uptrend from June, so it ought to hold. Today's low nearly touched it at 3090c. Only other logical target is the downtrend line from the April 2011 high, now about 2900c. Be patient, lift your head above the crowd & watch the horizon. It's a primary uptrend. There's a proverb that says, "Because the sentence against evil is not executed speedily, men's hearts are fully set to do evil." We're all such goofs that we see only what's going on around us, and figure it'll pretty much stay the same forever. After all, the old rules, the ancient law, doesn't count anymore in this new age. We're in a new era, and that changes everything. That reasoning is what I call "a mite previous." Just as people do more & more wicked things when they see evil men go unpunished (no time to list even 1/100 of those recent names!), assuming they can get away with evil, too, so they think that all the injustices, inequities, and frauds built into the American economic & financial system will never come home to roost. Washington & the rest of us will just muddle through in the end, somehow, & prosperity will return. The electrons will save us. The ancient law has died. Ponder only the US monetary & banking system, which builds in the twin frauds of inflation & fractional reserve. Every dollar they create steals a dollar from someone, & hurts the least & poorest most of all. Do Americans really believe that any society built on a foundation of theft can last? I have bad news for y'all: the ancient law has never died. It may delay but it will appear. Rudyard Kipling said it quite clearly in his poem, "Gods of the Copybook Headings": "And that after this is accomplished, & the brave new world begins "When all men are paid for existing & no man must pay for his sins, "As surely as Water will wet us, as surely as Fire will burn, "The gods of the Copybook Headings with terror & slaughter return." If you ask me why I invest in silver & gold, I could quickly cite you twenty or so sound logical reasons, but underlying them all is this warm certainty & fear: the ancient law has never died. But what do I know? I'm just a natural born fool from Tennessee, & tom-foolish enough to be glad of it. One of those worrisome harbingers is the yield on Ten year US treasuries. The criminals at the Federal Reserve haver created a bubble in bonds with their zero interest rate policy, & someday the pin will stick. Last few days the yield has risen to near the top of the range. It's not near, yet, most likely, but when it hits a panic out of bonds & the dollar will spawn problems so thorny they'll leave Ben Bernanke looking like he's been cuddling a porcupine. After falling overnight to a V-bottom at 79.008, the dollar index turned around and climbed to a close 15.4 basis points (0.2%) above yesterday's. This is nothing to brag about, unless you are drunk. Dollar's trend is firmly down with plenty of room to go downer. Euro rose today to $1,132.26, but 99% of that gain came yesterday. Yen has fallen again, down 0.24% today to 118.5 cents/Y100. Both the Yen & the Euro are reaching for what I suspect are the limits of the range the Nice Government Men, with their chain pulled globally by the Fed Reserve's NGM, will tolerate, namely, Y85 or E0.85 below and Y135 or E$1.35 above. Japanese must be in real trouble to let them drive their currency so low. US$1=Y84.46=E0.7555=0.032 211 oz Ag=0.000 600 oz. Au. Stocks crumpled again at 13,300 and fell today almost as much as they rose yesterday, down 98.96 (0.74%) after rising 115.57 yesterday. Dow scored 13,251.97 at closing, while the S&P had lost 0.76% (10.98) at 1,435.81. While that might mark the end of stocks' rally, a trend in force deserves the presumption it will remain in force until it confirms it's not. Today's fall wasn't near enough to do that. Expect higher stock prices, although we are reaching that time around the holidays when markets go dead, & that might dampen things until Boxing Day. Argentum et aurum comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger The-MoneyChanger.com 1-888-218-9226 10:00am-5:00pm CST, Monday-Friday © 2012, 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 $195.66; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or 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. No, I don't.  |
| The One Single Reason Why We're Going Over the Fiscal Cliff Posted: 19 Dec 2012 06:51 PM PST
Given that we’re a mere days away from the US going over the fiscal cliff this is worth a reprint.
I’m going to lay out everything you need to know about the fiscal cliff negotiations. After reading this, you can ignore all of the media’s coverage of this topic as well as various politicians’ announcements pertaining to this subject.
All you need to know consists of just one sentence.
Politicians are in charge of this issue. These are the same folks who haven’t even produced a budget in four years. The same folks who have run $1+ trillion deficits for four years. The same folks who rarely if ever leave office as a result of their fiscal mistakes.
In simple terms, none of the people in this group will likely suffer any consequences if we do go over the cliff. Indeed, as far as options go, their best option would be for us to go over the cliff and then implement some targeted tax breaks in late 2013 early 2014 as they go into the 2014 Congressional elections.
Let’s take the side of the Democrats.
Obama was largely re-elected based a solid turnout for the Democrats and a lack of voter turnout for the GOP. If you want to argue about voter fraud the fact remains that if there was widespread voter fraud the GOP let the Democrats get away with it. So for simplicity’s sake, Obama won based on a strong turnout while the GOP lost based on a weak turnout (Romney took less votes that McCain!).
With this in mind, Obama and the Democrats can easily argue that they have the mandate of the people for their policies. If the GOP proves unwilling to go along with their proposals, Obama and the Dems can simply take us over the cliff, increase taxes on the wealthy (which would appease their voting base) and blame the failure to reach a solution as well as the ensuing economic mess on the Republicans (much as the Dems and Obama have blamed the terrible economy on Bush).
So, truth be told, Obama and the Dems really have very little to gain politically from solving the fiscal cliff.
On the GOP side, there is little incentive to solve the fiscal cliff either. If they kowtow to Obama’s wishes, they’ll infuriate their base. And there’s no chance that they’ll convince Obama and the Dems to meet their demands of cutting spending (they sure haven’t done anything of this nature in the last two years). So the best thing they can do is simply refuse to address the problem, go off the cliff and then maintain a “we fought the best we could against insurmountable odds” stance.
So… neither the Dems nor the GOP are incentivized to solve the fiscal cliff. Both parties are best off from a political standpoint having us go over the cliff and then fighting for some kind of tax breaks/ tax relief for their bases sometime in late 2013/ early 2014.
With that in mind, we’re very likely going over the cliff in a month’s time. The whole situation has echoes of the failed debt ceiling talks and subsequent market collapse of 2011.
Indeed, the market is even mirroring its Debt Ceiling talk’s action:
Here’s the S&P 500’s recent action:
Here’s what the market looked like going into the Debt Ceiling talks of 2011.
Here’s what followed:
I highly suggest preparing in advance.
On that note, we’ve recently prepared a Free Special Report outlining how to prepare for this as well as the coming economic collapse. It’s called: Preparing Your Portfolio For Obama’s Economic Nightmare and it outlines several investments that will profit from Obama’s misguided economic policies, including one targeted at potentially huge returns when the US Debt bubble bursts.
You can pick up your FREE copy here:
http://gainspainscapital.com/obama-nightmare/
Best Regards
Graham Summers
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| Peter Schiff Blog: The Federal Reserve Is 100% Committed To The Destruction Of The Dollar Posted: 19 Dec 2012 06:31 PM PST In order to generate phony economic growth and to... [[ This is a content summary only. Visit my website http://goldbasics.blogspot.com for full Content ]]  |
| Jim Rogers Blog: Gold: Just Be Careful, There Are Too May Bulls Posted: 19 Dec 2012 06:28 PM PST “Just be careful, there’re too many... [[ This is a content summary only. Visit my website http://goldbasics.blogspot.com for full Content ]]  |
| Jim Rogers Blog: Gold: 30 Percent Corrections Are Normal Even In Big Bull Markets Posted: 19 Dec 2012 06:27 PM PST “Most things correct 30 percent every year... [[ This is a content summary only. Visit my website http://goldbasics.blogspot.com for full Content ]]  |
| It Really Is Different (Again) This Time Posted: 19 Dec 2012 06:25 PM PST Despite the seemingly generational destruction to household and bank balance sheets and an entirely unprecedented fiscal and monetary policy reponse, investors would never know it given the market's reactions from the 2009 lows relative to its rally from the 2003 lows. Different this time? hhmmm... Worried about gold prices falling also? Doesn't look like we learned anything from the 'Debt Ceiling' debate either...
S&P 500 - 2003-low rally vs 2009-low rally; unbelievable! What is most shocking is the cataclysmic drop we suffered did nothing to quell the status quo's belief that one more bubble will do it and save us all... This rally off the 2009 lows feels excessive (and is given the real backdrop) but is in reality not so different from the Greenspan-to-Bernanke handoff bubble that led to this idiocy... Can we really kick the can one more year? Last time it was mega-securitization technical pressure that sustained credit support for equities with that last lurch higher - with yields already at record lows, leverage creeping up and spreads not pricing in any credit cycle, we suspect this time might just be different for the nominal value of the S&P 500... (h/t Brad Wishak At NewEdge) Gold - Debt Ceiling vs Fiscal Cliff
Charts: Bloomberg |
| What Can 1 Ounce Of Gold Buy? | Commodity HQ Posted: 19 Dec 2012 03:19 PM PST What Can 1 Ounce Of Gold Buy? Gold investing has... [[ This is a content summary only. Visit my website http://goldbasics.blogspot.com for full Content ]]  |
| Doug Casey on the Fiscal Cliff Posted: 19 Dec 2012 03:03 PM PST (Interviewed by Louis James, Editor, International Speculator) L: So Doug, the talk of the day is the horrific mass murder of little children in Connecticut last week. I'm sure you join me in extending sympathies to the families of the victims – I hope they can survive being survivors. But we've already talked about such attacks, and this event doesn't really change the path we're on; it only accelerates the disarmament of more future victims. It's another sign of the accelerating decay of US society, which we've talked about at length. Doug: Yes, I suppose our readers could probably predict most of what we'd say about the murders in Connecticut. Not much to add, but I predict that they'll find that the 20-year-old killer, Lanza, was on Ritalin, Zoloft, Prozac, or some similar psychiatric drug. Most mass murders are proven to have been on these drugs, and the medical records are sealed for many other killers, so we can't find out. As usual, the chattering classes and their political buddies will focus on the tools used by the killer, rather than on what made him a killer in the first place. It's that and the ethically degraded state of society that I blame – not the availability of some guns, knives, rocks, or whatever. L: The killer at the Colorado movie theater, the Columbine killers… there certainly seems to be a pattern of young men on prescribed medications turning into mass murderers. Doug: It was also true of many of the postal workers who gave rise to the phrase "going postal." It appears a substantial part of the US is on some type of psych meds. This massacre is so extreme in its emotional power, pandering politicians will absolutely have to "do something." That means catering to some of people's basest emotions: fear and anger. And giving them what they think they want: vengeance and the appearance of safety. They'll call it "justice" and "reasonable" gun control, but it will be neither. And it won't stop the violence; it will get worse because of the deterioration of US society. New laws will just give the average American more of a false sense of security, and make him even more of a serf. But that's par for the course, these days. As you say, we've already covered this ground. Anyway, you can't convince people of a viewpoint regarding this subject. What people believe is a question of their psychology, not the intellectual merits of the argument. Let's talk about something else that's looming, and that people can do something about: the so-called "fiscal cliff." L: There's something people can do about that? You can't be thinking that writing a letter to whatever slimy creature in Congress claims to represent us will do any good… Doug: Of course not. But the fiscal cliff will have economic consequences. Those who see them coming can and should profit from them. L: Okay; let's start with a definition, as usual. What is the fiscal cliff anyway? Doug: Well, of course, fiscal cliff is really a misnomer. Part of it's good, and part is bad for the economy. The term refers to the simultaneous expiration of the Bush tax cuts and automatic spending cuts mandated by the Budget Control Act of 2011 that go into effect next year. Many pundits say this will cause the US to go into a recession. Well, we're already in the Greater Depression. But here's what would happen. The higher taxes would suck more capital out of the productive economy and divert it to the government – that's very bad. And lower government spending would help unravel distortions and misallocations of capital that spending was causing – which is good. In the process, some people would have to find new jobs, and some businesses dealing with government handouts would go bust. Painful, but necessary, and we need to see lots more of both. However, it's not the US economy that's facing this alleged cliff; it's the US government. It just goes to show how hopeless the situation is, when people equate the government with the economy. They're two entirely different things. The only way to revitalize the US economy is a vast reduction in taxes and a vast reduction in government spending. Instead, these idiots are arguing over how much to raise taxes and how little they can cut spending. Of course it will be a disaster. L: Fair enough, but raising taxes and cutting spending is exactly the kind of "austerity" the Germans are saying the rest of Europe should embrace – why is that seen as a good thing over there but a looming disaster over here? Doug: It is curious, isn't it? The Europeans are hooked on government spending – look at all the riots and protests. That's why their grandchildren will all be houseboys and maids for the Chinese. The difference is just that the Europeans know they have their backs against a debt wall and have no choice, whereas in the US, people still imagine they can borrow and spend their way into prosperity. Americans stupidly think that because they could get away with acting like the profligate grasshopper 50 years ago, they can still do so today. L: But Congress passed its budget law back in 2011 to force themselves to do what was seen as necessary. They didn't do what was necessary voluntarily in the time they gave themselves, so now are being forced to do what they themselves saw as necessary back when they passed the law. How is it that politicians of both parties could agree such a measure was necessary less than two years ago, and now say it's an impending disaster? Doug: How is it they can say any of the insane things they do? The fact of the matter is that Congresscritters back in 2011 just wanted to kick the can down the road and keep the gravy train rolling. They didn't think they would have a new solution today – they only wanted to escape certain doom then… and hoped magic would happen. They have no solution, not then, not now. They'll just try to put off judgment day once again. They'll do it by selling hundreds of billions more in debt to the Federal Reserve – they'll have to because the Chinese and Japanese aren't buying anymore. They want to get rid of what they have. L: So, you think they will find a compromise and enact new legislation before the end-of-the-year deadline? Are you having a "guru moment?" Doug: Yes. 2013 is likely to be a nasty year. I hate to be a permabear, but there's no alternative. The two parties that run the US claim to be different, but it's more accurate to see them as the tax-and-spend party and the tax-and-spend-more party. One thing they both agree on – and they're dead wrong, but they agree – is that the economy rests on confidence, and that if they can only restore confidence, the economy will grow. L: As if the coyote could keep running on air, as long as he didn't look down? Doug: Exactly. The economy would be just fine if the government disappeared. The problem is the US dollar, which has no intrinsic value and is backed by nothing but confidence. The dollar is a complete fiat currency, and its accelerating debasement has the potential to destroy the economy. The economy itself is the aggregate of all the people, businesses, inventory, manufacturing plants, mines, farms, transportation networks, research facilities, and accumulated capital of all the participants. The economy grows when people produce more than they consume, and save the difference. They then have capital to put into new ventures, create new jobs, develop new technologies, and so forth. No government is needed to make this happen – rather the opposite. But the average American, who is completely ignorant of economics, thinks the government is a magic cornucopia. As proof of that statement, I offer the fact that Obama is president, Romney was offered as an alternative, and dingbats like Boehner, Pelosi, and Ried control the Congress. L: So, what does get the economy going? Doug: People can't just sit at home because they lack confidence; they'd starve. They have to work, create, build, invest – deploy their capital, whether that be financial, intellectual, or the simple time they can sell to employers. The alternative is dissipation and eventually death. If the economy isn't growing, it's not because the government isn't spending enough to "stimulate" it. Government spending comes from: taxation, which is a burden on the economy; borrowing, which is a future burden on the economy; or printing money – inflation – which is an especially dishonest, hidden form of taxation makes people think they're richer while they're being impoverished. No. If the economy isn't growing, it's because the government has burdened it with heavy taxation, smothered it with excessive regulation, distorted it with false information (the Fed's manipulation of interest rates), and replaced real money – gold – with paper. L: What you've just explained in a few simple paragraphs was such a great mystery to me back in school. I remember being taught that unrestrained capitalism caused the Great Depression, and that without government to smooth out the "business cycle," the economy would grow too fast and investors would go too far, creating a crash, destroying confidence, and leading to recession and depression. What I didn't get then was how a recession or depression could ever end. If it was all about confidence, and confidence was destroyed, no one in their right mind would risk spending anything, building anything, employing anyone, etc., until they saw signs of recovery – but with everyone waiting for those signs, they would never come. I guess many people are still stuck in this economic error. That's why so many think you need a government to stimulate growth – to trick people, essentially, into seeing clear signs of recovery, and therefore unleashing a real recovery. Doug: Perhaps so – but stimulated, or let's say "simulated" – signs of recovery aren't needed if people have savings, accumulated capital, that can be deployed. Instead, today they mostly have debt. Government stimulation won't work if capital doesn't exist or is punished for being used. If you've destroyed people's jobs, taxed them more for investing wisely, piled on so many regulations that you can't sell lemonade without decades of permitting and clinical trials, all the stimulus in the world won't create a vibrant economy. L: You won't get an argument from me – and in this context it makes sense for the EU to hit the wall before the US; it has a lot more regulations, higher taxation, and more omnipresent government over there. But back to the US fiscal cliff: if it does indeed represent a sort of forced austerity for the US government, might that not be at least partially a good thing? If the government is forced to live more within its means, maybe it won't be able to do as much harm? Doug: Look, the tax increases they're proposing are significant and immediate; they're hoping to increase tax revenue by almost 20% in 2013. Well, they'll greatly increase tax rates anyway – for instance, capital gains are set to go from 15% to 20%, and the top income tax rate to 39.6%, including dividend income. But the spending cuts are modest, and mostly for the future – only a 0.25% decrease in actual outlays by the government in 2013. That's a rounding error. In short, it'll be harder to earn an honest living and there will be less incentive to invest wisely, but bloated government will continue running the printing presses as fast as they'll go. I think we'll see at least a trillion dollar deficit next year. Maybe more like $1.5 trillion. The US Government is on tilt. L: We're stuck with QE4-ever? Doug: They have no alternative – unless they default on the national debt, abolish Social Security, Medicare, Medicaid, and cut back the military about 90%. Now they've announced $40 billion more a month, on top of the $45 billion a month they announced just before the election – and it's not just the US. The new Japanese government says it has a mandate to print and spend unlimited amounts, whatever it takes to stimulate its economy. The Europeans are at it too. L: So, why do you suppose gold actually sold off when they announced the new QE last week? One would expect the announcement of such massive new money-printing to send gold upward. Doug: Actually, the initial reaction on the day the Fed made its announcement was a spike in the gold price, but that lasted only minutes. It's hard to say exactly why it didn't stay up; and guru jokes aside, I truly have no crystal ball. Nor does anybody else. I'd guess that some investors have been suckered by the recent appearance of improvement in the US employment and housing markets. Most people still don't even know gold exists – they're idiotically buying long bonds for a couple percent of yield. Be that as it may, the one thing we know for sure is that the world is being flooded with new funny money. Economic contraction is masking the effect, and that money is just sitting in banks now, but you can't print trillions and trillions of new currency units indefinitely without inflation showing up. Timing is always the hard part – confusing what's inevitable with what's imminent – but this is as sure a thing as I can see in today's market. L: So, how do investors best speculate on that? Doug: Well, first, there are the things to avoid. Government bonds are my leading example of this – a triple threat to your wealth, as we've said before. They're the world's biggest bubble. You also have to understand that as governments get more desperate, they will become more dangerous, so you have to diversify your assets and your lifestyle internationally. That's not new either, but I know from past experience that few people will take action; and it's a shame, because while you may survive your government treating you like a milk cow, things change considerably when it decides to treat you like a beef cow. L: Is there an anti-government bond play you would recommend? Maybe an ETF that goes up when bonds go down? Doug: I don't recommend one at present, because there's no telling exactly when the tide with shift; and until it does, investors in such vehicles run the risk of losing their patience and giving up too early. I think there will be time to invest in that when the tide shifts, but has not yet gained momentum – then shorting government bonds will be the trade of the decade. L: What else – gold, I assume? Doug: Absolutely. All of this currency creation is going to ignite a real bubble in gold – and silver. Gold is certainly not cheap compared to its lows a decade ago, but it is the only safe haven we have against the destruction of the US dollar and other paper money. Remember, I don't buy gold to speculate on its price rising, I do it for prudence. L: For speculation, you buy the gold stocks. Doug: Exactly. And we happen to be in a buyer's market. Even though gold has traded roughly sideways for the past year, market sentiment and the gold sector has turned so bearish, most of the gold stocks are selling for much less than they were a year ago. They're a fantastic, high-potential speculation. L: I'm reminded of the old saying about being careful what you wish for. It wasn't so long ago that you were complaining about the metaphysical impossibility of everything being expensive at the same time… Doug: Yes, well, those late to the gold table can be thankful for the spectacular opportunities there are to buy good, profitable companies today at much more attractive prices than last year – such as the ones we recommend in our BIG GOLD newsletter, and earlier-stage companies with the potential to return extraordinary near-term gains such as you recommend in the International Speculator. L: Thanks for the plug. Doug: [Chuckles] My pleasure. L: Anything else? Doug: 2013 is going to be ugly. But just a warmup for 2014. L: Ouch. Okay then, until next week. Doug: Next week. |
| Gold Daily and Silver Weekly Charts Posted: 19 Dec 2012 02:20 PM PST  This posting includes an audio/video/photo media file: Download Now |
| Leeb talks gold market manipulation and gold backing for China's yuan Posted: 19 Dec 2012 02:18 PM PST 4:13p ET Wednesday, December 19, 2012 Dear Friend of GATA and Gold: Fund manager Stephen Leeb today discussed gold market manipulation with King World News and disclosed that a Chinese diplomat recently told him that China is accumulating gold for the purpose of backing its currency. Leeb adds: "There is a ritual we see in overnight trading. Gold is usually up $4 or $5 at around midnight or 1 a.m. East Coast time. I'll be watching gold trade at this time and I can't count the number of times that in just a minute or two, instead of gold being up $4 or $5, it's now down $20. No one is trading at 12 or 1 or 2 in the morning. Somebody is doing this and it always happens when there is no liquidity. So you have a game of desperation going on here and the Chinese are aware of this." An excerpt from the interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/12/19_D... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Fred Goldstein and Tim Murphy open All Pro Gold All-Pro Gold, run by long-time GATA supporters Fred Goldstein and Tim Murphy, offers its services to GATA supporters and anyone else interested in precious metals. The company brokers a full line of precious metals and numismatic coins. It aims to inform prospective clients about the importance of the monetary metals as part of a diversified financial portfolio and to keep prospective clients current with market trends. All-Pro Gold has competitive pricing and ships promptly to clients so they may have physical possession. Learn more by e-mailing Fred@allprogold.com or Tim@allprogold.com or telephone 1-855-377-4653 or visit www.allprogold.com. 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 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 |
| Gold Seeker Closing Report: Gold and Silver Fall With Stocks Posted: 19 Dec 2012 02:16 PM PST Gold edged up to $1676.66 in Asia before it fell back to $1664.34 in early afternoon New York trade, but it then bounced back higher in the last two and a half hours of trade and ended with a loss of just 0.21%. Silver climbed to $31.74 in Asia, but it then dropped back to as low as $31.022 in New York and ended with a loss of 1.71%. |
| Posted: 19 Dec 2012 01:34 PM PST December 19, 2012 [LIST] [*]"Capital spending" takes a dive... unemployment spike sure to follow... [*]ZIRP to infinity and beyond!... PRO trading on the law of unintended consequences... [*]Gold and silver get whacked... buy! buy! buy!... multiple reasons why... [*]FedEx delivers bad news for transports... German DAX gets a boost!.... [*]Polls portend the failure of democracy... the Ayatollah gets an FB page (heh)... down with foreign aid... and more! [/LIST] We interrupt the Santa Claus rally in the stock market with this foreboding announcement: The businesses responsible for nearly all "job creation" in the U.S. economy are pulling in the reins. As the unemployment rate is key to several factors, not least of which are Fed policy and the long-term price of gold, today we take a closer look... Last week, we noticed the "Small Business Optimism Index" issued by the National Federation of Independent Business (NFIB) s... |
| Posted: 19 Dec 2012 01:26 PM PST Markets are made of opinions, some better than others. There are always plenty of opinions about gold. And right now they're clearly making the market. Just not in the way you would think. Read More...  |
| Confiscation of Gold - Then What? (Part 2/4) Posted: 19 Dec 2012 01:15 PM PST There you sit with gold as a key investment. You did not want to trust the banks or gold ETF's or the derivatives market with your gold investments, despite the prospect of short-term gains. You want your gold for financial security ... Read More...  |
| Kyle Bass on the End of the Debt Supercycle Posted: 19 Dec 2012 01:10 PM PST By Michael Shedlock It is a fantastic interview that echoes many of the things I have been saying about Japan for quite some time. Ken Eades kicks off the interview welcoming Kyle Bass mentioning that over the past few years his investment thesis has been then same. Eades then asks Bass to recap and review. what follows is Bass' reply.
[source] |
| Diplomat Admits China Is Accumulating Gold To Back The Yuan Posted: 19 Dec 2012 01:09 PM PST  Today acclaimed money manager Stephen Leeb stunned King World News when he said he was recently speaking with a Chinese diplomat and the diplomat accidently admitted to him that China was accumulating gold specifically to back the yuan. This was a shocking admission and the diplomat then attempted to backtrack but it was too late.But first, here is what Leeb had to say about what is happening in the gold war: "The Federal Reserve here in the US recently announced they are willing to print over $1 trillion worth of paper in the next 12 months. We can print as much money as we want but it's not going to do any good." This posting includes an audio/video/photo media file: Download Now |
| Where the Relationship between Gold and Oil Works and Where It Does Not Posted: 19 Dec 2012 12:45 PM PST In the financial markets, gold is usually ascribed to the commodities category. In this group of assets you will find your good old friend, silver, along with several others metals like platinum, palladium, copper etc. Read More...  |
| Posted: 19 Dec 2012 12:36 PM PST December 19, 2012
As the unemployment rate is key to several factors, not least of which are Fed policy and the long-term price of gold, today we take a closer look…
However, we concede the NFIB has a partisan reputation. So… this morning, we find corroborating evidence from the granddaddy of public opinion pollsters, Gallup.
The most recent survey — conducted the week after the election — "found them the most pessimistic they have been since the third quarter of 2010," says Gallup chief economist Dennis Jacobe.
Small businesses — especially startups — are the fount of new jobs. In a study spanning 1977-2005, the Kauffman Foundation found new firms add an average of 3 million jobs a year… while existing ones shed 1 million. According to the Bureau of Labor Statistics (BLS), that net 2 million number has held up fairly well over the last 12 months — they reckon new firms added about 2.64 million jobs in the better part of 2012. If new firms are delaying capital spending projects… neither are they likely to hire new employees. There's no need.
Unemployment leapt up to 25% in a very short amount of time between the stock market bust in 1929 and 1934… the end of the official recession:
Much more useful to them is that aforementioned number of 2.64 million jobs that came into existence over the last 12 months. Indeed, that number might hold the key to the Federal Reserve's newest gambit — tying interest rate policy to the unemployment rate. Recall last week that Mr. Bernanke said the Fed would continue to keep interest rates near zero until U-3 unemployment fell to 6.5%. A moment he expects to occur around mid-2015. Heh. The Hamilton Project, an arm of the Brookings Institution, helps us with the logic here:
Of course, if the small business survey is any indication, that pace might slow… and the top bar on the chart would come into play. Zero interest rate policy till 2018! So… unless we get a rip-roaring recovery out of nowhere next year, you can expect negative real interest rates — that is, below-zero rates after taking inflation into account — for at least 2½ more years. Maybe five.
During trading in New York yesterday, gold sank to nearly $1,660 before staging a weak recovery. This morning, the bid is $1,666. The sell-off occurred "amid no major, fresh fundamental news to move prices so sharply," our friends at Kitco observed. Perhaps traders were merely taking profits to plow them into Santa's fat belly on Wall Street.
"Some entity," he goes on, "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. "The interesting part of this story," he goes on, "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 were announced five years ago, markets would have exploded and gold would have absolutely launched."
The U.S. Mint has informed its network of dealers that inventory of 2012-dated Silver Eagles has been cleaned out… and the 2013 model won't be available for order until Jan. 7. "This leaves a three-week void for the Mint's most popular bullion offering," Coin Update points out. Silver Eagle sales to date this year total 33,742,500 — considerably less than last year's record of nearly 40 million. Gold Eagle sales total 715,000 ounces so far in 2012 — the weakest pace since 2007. [Ed. Note: Our friends at First Federal have already secured access to the coveted "first releases" portion of the Mint's 2013 Silver Eagle issue. These beauties will be ready for shipment to your door as soon as they're minted and certified MS70 by independent grading firm NGC. Get yours here.]
"I'm sick of complaining about it," says Greg Guenthner, "but all of this fiscal cliff noise is drowning out some important market data you should be watching… "For example, did you know that several European markets are breaking out right now? Just look at the German DAX. After its fifth-straight month in the green, the index is testing its 2011 highs. Even Asian and emerging market indexes are pushing sharply higher this month…
Second-quarter earnings came in at $1.39 a share. The "expert consensus" was counting on $1.41. FedEx's customers have been forsaking overnight delivery for cheaper ground and freight rates. "While volumes are up," says The Wall Street Journal, "shippers are paying FedEx less to fly goods, yet it doesn't cost FedEx any less to fly the planes." [Ed. Note: Platinum-level Members of the Agora Financial Reserve can scroll down to learn how exactly to play the squeeze on FedEx's margins for maximum profit. That's today's installment of The 5 Min. Forecast PRO -- our new "sixth minute" that aims to deliver daily guidance to more directly profit from the analysis you see in The 5. While we're still in the beta-test stage for The 5 PRO, it will be available only to members of our platinum-level Reserve. If you're not yet a member, you can use your credits based on your existing subscriptions to upgrade your account. Call John Wilkinson at 866-361-7662 for a comprehensive review of your available credits.]
Patrick is back with an update on one of the "nutraceutical" products that's been on his radar the last two years. It's already a proven performer in reducing the CRP levels associated with many diseases of aging, especially heart disease. Now researchers at Johns Hopkins here in Baltimore are conducting a human thyroid trial. In light of published animal studies and testimonials from people already taking the product, Patrick is convinced the human trials will be a smashing success. "One of the aspects of nutraceuticals that make them so unique as investments is that we have so much preclinical trial information on which to judge the company," Patrick says. For the time being, the FDA considers these products dietary supplements… so they don't have to run the FDA's regulatory gauntlet.
"Before clinical trials, however, people can freely use these naturally occurring therapeutic phytochemicals. As a result, we can make far more informed predictions about the outcome of nutraceutical trials than we can with most drug trials." [Ed. note: The product that's the focus of the Hopkins study gets raves from people who take it for a host of maladies -- including everyday aches and pains. "The benefits are so amazing and life-changing. I feel 20 years younger!" says a reviewer at Amazon. "I was a total skeptic about its effectiveness, the placebo effect, etc.," adds another. "All I can say is that it worked for me right from the start." Patrick is convinced the product can extend human life span... and still make early investors a small pile to play with during that extended time! SPECIAL OFFER: For access to Patrick's research -- and a substantial 60% discount off a subscription to his high-end advisory Breakthrough Technology Alert -- follow this link. But please be aware this particular offer expires Thursday at midnight.]
"While there are several other Facebook pages already devoted to Khamenei," Reuters reports, "the new one… appeared to be officially authorized, rather than merely the work of admirers."
We savor the irony: Facebook was banned in Iran during the failed "Green Revolution" of 2009. It's still routinely blocked but according to Reuters "commonly used by millions of Iranians who use special software to get around the ban."
"This is just an illustration of why democracies will eventually fail." The 5: Maybe you could post your comment on Khamenei's Facebook page. He'd appreciate it, no doubt, and share with friends.
The 5: Not much. Foreign aid works out to $13 billion, or 0.4% of the federal budget. "Waste, fraud and abuse" don't amount to much either… $87 billion, 2.35%. Cutting foreign aid and eliminating all abuses in the system would only trim the annual deficit by 8.3%, leaving $1.1 trillion in the hole. If balancing the budget is your goal, you'll have to look higher up the food chain. Regards, Addison Wiggin P.S. Financials have been on fire of late; XLF, the financial sector ETF, has jumped 4.4% since Thanksgiving. Readers of Options Hotline were able to take that modest move and turn it into a 61% gain by the time Steve Sarnoff recommended closing out the position yesterday. Not bad for a little over three weeks, eh? Don't feel bad if you missed out; as Steve is fond of saying, "There's always opportunity in options." You can be on board for the next opportunity right here.        |
| Report that Russia Has Issued Gold and Silver Coins Which Can Be Used As Legal Tender Posted: 19 Dec 2012 12:36 PM PST  |
| Posted: 19 Dec 2012 12:18 PM PST Once again I'll quote NFTRH 208 from October 14, not to be an 'I told you so' wise guy, but rather to highlight how important sentiment is to this sector and also I suppose to toot the horn a little with respect to good risk management. Read More...  |
| Lars Schall: Bundesbank refuses candid and complete answers about gold Posted: 19 Dec 2012 12:09 PM PST 2:08p ET Wednesday, December 19, 2012 Dear Friend of GATA and Gold: The German financial writer Lars Schall today elaborates on how the Bundesbank keeps refusing to provide candid and complete answers to specific questions about its involvement in the gold market. Schall's commentary is headlined "The Whole Ball Game: They Can't Talk About It" and it's posted at his Internet site here: http://www.larsschall.com/2012/12/19/the-whole-ball-game-they-cant-talk-... CHRIS POWELL, Secretary/Treasurer 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 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/. |
The mainstream media continues to insist that the economy is "getting better", but the poverty numbers for children and young people just continue to explode. For example, did you know that the poverty rate for families with a head of household under the age of 30 is a whopping 37 percent? Children and young people sure didn't cause our recent economic downturn, but they sure are getting hit the hardest by it. According to the U.S. Department of Education, for the first time ever more than a million U.S. public school students are homeless. That seems like an impossible number, but it is 
Today James Turk spoke with King World News about desperate steps and increased propaganda which are being undertaken by the Western central planners in an attempt to keep the gold and silver markets subdued. This is the third and final in a series of interviews with Turk that was released today which reveals the increasingly desperate moves and propaganda we are now seeing emanate from the West. 
We interrupt the Santa Claus rally in the stock market with this foreboding announcement: The businesses responsible for nearly all "job creation" in the U.S. economy are pulling in the reins.
Now, five years after the start of the "official" 2007-09 recession, the real unemployment rate as charted by John Williams at Shadow Government Statistics remains stuck at 22.9%:
We might have been treated to a statistical reprieve during the campaign this year. We watched U-3 unemployment miraculously drop to 7.8%. But our forecast remains: As long as the quants can keep their grubby mitts off the figures, we expect unemployment to lurch its way back toward 10% before this time next year.
Sure enough, at the pace of the last 12 months — 220,000 per month, or 2.64 million a year — the magic number would arrive in… mid-2015.
"It's not your fault if you hadn't noticed some of these breakouts. The fact of the matter is only market technicians are talking about price action these days. Everyone else is attempting to trade the news — and they're failing miserably."
Not much there yet — a picture of the young Khamenei alongside his mentor and predecessor Ayatollah Khomeini, in the early 1960s.
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