Gold World News Flash |
- GoldSeek.com Radio Gold Nugget: Gerald Celente & Chris Waltzek
- Ira Epstein's Weekly Metal Report
- Asian Metals Market Update
- “Mystery Gold Seller” Spied in Asia
- Ben Davies – Gold Shorts Are Now Exposed To a Price Spike
- ECB's Draghi Undercuts the Euro
- Is a Global Gold Supply Crunch Forming?
- The rating agencies and America’s debt ceiling
- Issac Newton on fiat “money”
- Commodity Technical Analysis: Gold Consolidates for Second Day
- Ross Silver on How to Find the Perfect Combo of Biotech Science and Market Savvy
- The Incredible Collapse of Value of Silver
- The Silver and Gold Price Remain in a Primary Uptrend and have Another 5 - 10 Years to Rise
- Gold Pops above $1700; Silver above $33
- Squatting On The Shoulders Of Midgets
- It's that time again
- Can Gold Keep Its Luster in 2013?
- ECB mulls negative rates as Europe's economic crisis deepens
- Gold Eagle sale up 150% since QE3 announcement
- Kaiser - Bracing for the extinction of 500 juniors or an entire institution?
- The Answers To Today's Most Common Questions
- Ben Davies - Gold Shorts Are Now Exposed To a Price Spike
- 167% in Six Months – Tech Speculation Lessons
- Gold Seeker Closing Report: Gold and Silver End Slightly Higher
- Gold Daily and Silver Weekly Charts
- Gold & Silver Regain $1700 & $33 on 10 Ton Physical Gold Order
- Why did Central Banks Stop Selling Gold?
- Regarding Gold: Follow The Money
- Gold: The Hidden Dangers?
- Holiday Mirth, Economic Myth
| GoldSeek.com Radio Gold Nugget: Gerald Celente & Chris Waltzek Posted: 07 Dec 2012 08:29 AM PST GoldSeek.com Radio Gold Nugget: Gerald Celente & Chris Waltzek |
| Ira Epstein's Weekly Metal Report Posted: 07 Dec 2012 08:03 AM PST Since it became apparent that there was not going to be a compromise forthcoming soon between the President and the House of Representatives, I've been trying to figure out the impact that has on gold. I think I understand it, which is the reason for this reports "Austerity" headline. |
| Posted: 07 Dec 2012 12:05 AM PST Technically gold and silver seems to have formed a short term bottom after the European central bank chief indicated of more interest rate cuts next year. All the good news on US nonfarm payrolls has been factored in by the markets and if the numbers come in below street expectations then gold and silver could see another wave of rise. |
| “Mystery Gold Seller” Spied in Asia Posted: 06 Dec 2012 10:00 PM PST by Adrian Ash, Financial Sense:
The gold price traded in a narrow range around $1691 per ounce Thursday morning in London, rising slightly from yesterday's 1-month low. Asian and European stock markets also ticked higher, as did US Treasury bonds. Silver rallied to $32.78 per ounce after losing nearly 3% this week so far, but commodities more broadly slipped again. "Risks to our [economic] growth outlook remain elevated," said a widely-reported gold price forecast from investment-bank Goldman Sachs on Wednesday, "especially given the uncertainty around the fiscal cliff. |
| Ben Davies – Gold Shorts Are Now Exposed To a Price Spike Posted: 06 Dec 2012 09:30 PM PST from KingWorldNews:
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| ECB's Draghi Undercuts the Euro Posted: 06 Dec 2012 09:00 PM PST by Dan Norcini:
That has changed in today's session. ECB President Mario Draghi's comments at a press conference have been interpretted as quite dovish by the trading community. Even though the ECB kept interested rates unchanged, the talk in the market quickly moved in response to what many feel was Draghi's leaving the door open for rate cuts in the not-too-distant future. What this means is that the interest rate environment in the Eurozone will remain negative in real terms. This is the type of scenario in which gold thrives. |
| Is a Global Gold Supply Crunch Forming? Posted: 06 Dec 2012 08:20 PM PST by Jeff Clark, Casey Research:
The issues facing gold miners are well known: depletion of existing mines, lower grades, and fewer new discoveries – especially big and rich ones. Further, miners face increased calls for nationalization, demands from workers for higher pay or from local communities for better infrastructure, and – of course – environmental concerns. Many mining company representatives say it's getting harder to not only find large deposits but to get those deposits into production. Some estimate it now takes twice as long as to go from discovery to production vs. a decade ago. |
| The rating agencies and America’s debt ceiling Posted: 06 Dec 2012 07:30 PM PST from Gold Money:
One interesting side effect of the process was that the credit ratings agency Standard & Poor's decided to downgrade the USA's sovereign credit rating from AAA to AA+. With the US government on course to hits its new limit early next year, is another downgrade coming? Based on commentary made by S&P at the time of the first cut, another one from them could well be possible. Below is an excerpt from S&P's statement at the time of the downgrade: |
| Issac Newton on fiat “money” Posted: 06 Dec 2012 07:17 PM PST
Squatting on the shoulders of midgetsby Simon Black on December 6, 2012  December 6, 2012 Isaac Newton, the father of classical mechanics and progenitor of nearly every technology we use today, was easily one of the top 10 most influential minds in all of human history…so much so that even Albert Einstein kept a picture of Newton in his study. Newton's achievements were so momentous that when he died in 1727, he was buried with the honors normally reserved for a king. His body lay in state for four days at Westminster Abby, and his pallbearers included two dukes, three earls, and the Lord Chancellor. Yet as accomplished as he was, Newton credited the brilliant scientists and philosophers who came before him, acknowledging that his insights would not have been remotely possible without the foundations laid by great thinkers– Archimedes, da Vinci, Descartes, etc. In a personal letter to a colleague in 1676, Newton famously remarked "If I have seen further it is by standing on [the] shoulders of giants."* No doubt, all great ideas flourish by expanding upon the works of others. Unfortunately, so do terrible ones. And one of the worst ideas in history that continues to play out today is the grand experiment of fiat money. The idea is simple. Rather than allowing money to be scarce and have intrinsic value, our fiat system grants power to a tiny elite to conjure money out of thin air. Presumably, if the ones in control are smart, honest guys, then everything should be fine. Fiat was a total failure right from the beginning. When unbacked paper currency was originally introduced in the 11th century by Emperor Renzong of the S'ung dynasty, nasty inflation quickly followed. The Yuan dynasty later adopted the same tactic of printing paper money without restriction, and they, too, suffered severe hyperinflation. In fact, upon visiting China from Europe, Marco Polo remarked in his writings with incredulity how '[a]ll these pieces of paper are issued with as much solemnity and authority as if they were of pure gold or silver… and indeed everybody takes them readily. . ." For Marco Polo, this was unheard of. In the Europe of his time, the gold Florin was the major medium of exchange, not paper. And the Florin famously held its metal content at precisely 54 grains of fine gold for nearly three centuries. It took a few hundred years, but the fiat idea eventually spread to the west. Today, fiat is the global standard; just as in Yuan China, paper is readily accepted as money, and future historians will likely look back on us the same incredulity as Marco Polo viewed the Yuan. Nevertheless, we have our own 'brilliant scientists' championing this bad idea. We award our most esteemed prizes for intellectual achievement to men like Paul Krugman and Joseph Stiglitz who tell us that the path to prosperity is for one person to conjure trillions of dollars out of thin air… or to impose capital controls, raise taxes, or spend more money. Like Newton, they're merely building upon the foundations laid by men who came before them. Unlike Newton, they take bad ideas and make them worse, squatting on the shoulders of [intellectual] midgets like John Maynard Keynes, whose works include such gems as: "Can America spend its way into recovery? Why, obviously!" "[M]oney borrowed and spent will revive the economy." "[E]arthquakes, even wars… serve to increase wealth…" "[To] fill old bottles with bank notes, bury them at suitable depths in disused coal mines. . . and leave it to private enterprise… to dig the notes up again… is not so different from gold mining…" It borders on the absurd… as if it were all written as part of a satire. Yet in one of the most intellectually dishonest statements ever made, Paul Krugman recently wrote that "Keynesians have been right about everything." This is incredibly dangerous thinking. And it's important to never forget that, despite how normal things may 'feel' on the surface, the economic engines deep below are steered by these same people who worship at the cult of bad ideas. |
| Commodity Technical Analysis: Gold Consolidates for Second Day Posted: 06 Dec 2012 07:13 PM PST courtesy of DailyFX.com December 06, 2012 06:08 PM Daily Bars Chart Prepared by Jamie Saettele, CMT Commodity Analysis: “Viewed in light of the 3 wave advance from 1672.50, the trend is lower.” Rallies should be sold and estimated resistance now comes in at 1709. The most bearish count, in which the 11/30 high completes a small 2nd wave, is valid as long as price is below 1731.52. 1685 may provide interim support. Commodity Trading Strategy: Look to short strength near 1709 with a 1732 stop. 1630/45 (measured level and 8/31 low) is the target area. LEVELS: 1646 1673 1685 1709 1723 1735... |
| Ross Silver on How to Find the Perfect Combo of Biotech Science and Market Savvy Posted: 06 Dec 2012 07:13 PM PST The Life Sciences Report: Your focus at Vista Partners is on small- and micro-cap companies where investors can potentially make big gains. Do you have a sector bias, and what sectors do you cover? Ross Silver: To identify companies we believe are compelling investment opportunities we do two things. First, we invest our own capital into the companies. Second, we write research about these particular companies and disseminate our research and monthly newsletters for free on our website. As for sector bias, we are generalists for the most part, but we tend to focus on healthcare and technology companies because we believe the majority of alpha is derived in those particular industries. A healthcare or early-stage biotech company with a $10 million ($10M), $20M or $30M market cap has the potential to become a multibillion-dollar company in a relatively short period of time—over 5–10 years, let's say. With a small-cap retailer that transformation would take a lot longer, although there ... |
| The Incredible Collapse of Value of Silver Posted: 06 Dec 2012 06:30 PM PST by Antal Fekete, SilverBearCafe.com:
The Incredible Collapse of Value of Silver Don't Blame Comstock! An Address Delivered at the Conference Held at the University of Padova on November 30, 2012 "Coin Finds and Historical-Economic Processes in the Ancient World: Ten Years of Research 2002-2012″ The silver standard did not die a natural death. It was deliberately killed. A proper search for the assassins was never carried out. There was never a post-mortem. In this paper we focus on the conspiracy as it might have unfolded between the two dates: April 9, 1865 (the day General Lee of the Confederacy surrendered at Appomattox to General Grant of the Union marking the end of the War Between the States) and January 1, 1879 (Resumption Day, when payment of the victorious Union's currency, the greenback was resumed in gold specie – but not in silver). |
| The Silver and Gold Price Remain in a Primary Uptrend and have Another 5 - 10 Years to Rise Posted: 06 Dec 2012 04:36 PM PST Gold Price Close Today : 1700.30 Change : 7.90 or 0.47% Silver Price Close Today : 33.039 Change : 0.156 or 0.47% Gold Silver Ratio Today : 51.463 Change : -0.004 or -0.01% Silver Gold Ratio Today : 0.01943 Change : 0.000001 or 0.01% Platinum Price Close Today : 1599.20 Change : 16.50 or 1.04% Palladium Price Close Today : 695.55 Change : 9.60 or 1.40% S&P 500 : 1,413.94 Change : 4.66 or 0.33% Dow In GOLD$ : $158.96 Change : $ (0.24) or -0.15% Dow in GOLD oz : 7.690 Change : -0.012 or -0.15% Dow in SILVER oz : 395.74 Change : -0.67 or -0.17% Dow Industrial : 13,074.74 Change : 39.55 or 0.30% US Dollar Index : 80.23 Change : 0.404 or 0.51% The GOLD PRICE recovered $7.90 today to close Comex at $1,700.30. Silver gained 15.6 cents to end at 3303.9c. Both the silver and GOLD PRICE today posted lows about equal to yesterday's: 3252.8 and $1,685.90. That MIGHT be a double bottom, but only if they make good that threat by rising again tomorrow. Gold's close was cosmetically thrilling -- above $1,700 -- but technically meaningless, falling short of $1,705 resistance. I would wax more enthusiastic if gold touched first off its 200 DMA (1,665) or 150 DMA (1,662). The SILVER PRICE continues more photogenic than gold, and is only pennies blow its 20 DMA (3311c) and 50 DMA (3310c). Again, like talking to a man without driver's license or name tag, we'd like some more substantial proof that silver won't disappoint us again. Closing above 3320 tomorrow would help, as would gold respectably above $1,705. Then we can worry and vex ourselves about something else. Keep thine eyes on the prize! Silver and gold remain in a primary uptrend, and have another 5 - 10 years to rise. Next rally up in both metals began in August, and you are just now witnessing the last of the correction off that rally. Whether it begins this month or next, look for another big rally, one of those 1-1/2 to two year ones. Once again, in spite of the US dollar index rising 40.4 basis points (0.52%) and above 80 resistance, silver and gold rose. Dollar did nothing more that rise to the resistance line it had fallen through in the past two days. Next move down ought to be meaty. Euro hit that overhead downtrend line and fell back like Vlad Dracula meeting a silver crucifix. Gold in euros had fallen to its 200 day moving average, through a bit, and today shot back above it. Should move higher -- gold, that is, not the euro. Yen rose a little nothing today, to 121.35c/Y100. No big upside happening here any time soon. STOCKS proved incompetent once more day to close above 13,080. Dow rose 39.55 (0.3%) to 13,074.74, while the S&P500 trailed right along beside, up 0.33% (4.66) to 1,413.94. Stocks are stuck, but will most likely rise further into year end -- not that such a prospect induces me to own them. 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.   |
| Gold Pops above $1700; Silver above $33 Posted: 06 Dec 2012 04:00 PM PST [url]http://www.traderdannorcini.blogspot.com/[/url] [url]http://www.fortwealth.com/[/url] Shorts decided to book profits today when the market appeared to have encountered some decent sized buying down near the session lows. Additionally, the upcoming payrolls report has traders uneasy and it seemed like the better part of wisdom for many was to take what money you might have had on the table and go home and watch the action from a safer vantage point. Open interest declines are telling us that traders are heading to the exits, both longs and shorts as right now uncertainty seems to be the name of the game. Tomorrow will provide us with a clue to market direction into next week as we close out the week. Gold did run down towards the very strong support level noted on the chart at $1680 before running out of sellers. A push back through the $1700 that can remain above that point will be constructive from a technical perspective as it will reinforce the $1680 - $1685 region as good... |
| Squatting On The Shoulders Of Midgets Posted: 06 Dec 2012 03:45 PM PST Authored by Simon Black of Sovereign Man blog, Isaac Newton, the father of classical mechanics and progenitor of nearly every technology we use today, was easily one of the top 10 most influential minds in all of human history... so much so that even Albert Einstein kept a picture of Newton in his study. Newton's achievements were so momentous that when he died in 1727, he was buried with the honors normally reserved for a king. His body lay in state for four days at Westminster Abby, and his pallbearers included two dukes, three earls, and the Lord Chancellor. Yet as accomplished as he was, Newton credited the brilliant scientists and philosophers who came before him, acknowledging that his insights would not have been remotely possible without the foundations laid by great thinkers– Archimedes, da Vinci, Descartes, etc. In a personal letter to a colleague in 1676, Newton famously remarked "If I have seen further it is by standing on [the] shoulders of giants."* No doubt, all great ideas flourish by expanding upon the works of others. Unfortunately, so do terrible ones. And one of the worst ideas in history that continues to play out today is the grand experiment of fiat money. The idea is simple. Rather than allowing money to be scarce and have intrinsic value, our fiat system grants power to a tiny elite to conjure money out of thin air. Presumably, if the ones in control are smart, honest guys, then everything should be fine. Fiat was a total failure right from the beginning. When unbacked paper currency was originally introduced in the 11th century by Emperor Renzong of the S'ung dynasty, nasty inflation quickly followed. The Yuan dynasty later adopted the same tactic of printing paper money without restriction, and they, too, suffered severe hyperinflation. In fact, upon visiting China from Europe, Marco Polo remarked in his writings with incredulity how '[a]ll these pieces of paper are issued with as much solemnity and authority as if they were of pure gold or silver… and indeed everybody takes them readily. . ." For Marco Polo, this was unheard of. In the Europe of his time, the gold Florin was the major medium of exchange, not paper. And the Florin famously held its metal content at precisely 54 grains of fine gold for nearly three centuries. It took a few hundred years, but the fiat idea eventually spread to the west. Today, fiat is the global standard; just as in Yuan China, paper is readily accepted as money, and future historians will likely look back on us the same incredulity as Marco Polo viewed the Yuan. Nevertheless, we have our own 'brilliant scientists' championing this bad idea. We award our most esteemed prizes for intellectual achievement to men like Paul Krugman and Joseph Stiglitz who tell us that the path to prosperity is for one person to conjure trillions of dollars out of thin air… or to impose capital controls, raise taxes, or spend more money. Like Newton, they're merely building upon the foundations laid by men who came before them. Unlike Newton, they take bad ideas and make them worse, squatting on the shoulders of [intellectual] midgets like John Maynard Keynes, whose works include such gems as:
It borders on the absurd… as if it were all written as part of a satire. Yet in one of the most intellectually dishonest statements ever made, Paul Krugman recently wrote that "Keynesians have been right about everything." This is incredibly dangerous thinking. And it's important to never forget that, despite how normal things may 'feel' on the surface, the economic engines deep below are steered by these same people who worship at the cult of bad ideas. * The 'shoulders of giants' phrase is not originally Newton's, and when he wrote it to his contemporary and rival Robert Hooke, it was in half-jest, half-humility. |
| Posted: 06 Dec 2012 03:44 PM PST December 6, 2012 Mogambo Guru It's that time again These are, indeed, times that try men's souls. To such a profound revelation, some would perhaps delightedly say "Indeed, Mogambo!" Perhaps you, too, are inclined to say "Well said, Mogambo! Thou art truly the greatest of writers, who can, with a mere fillip of prose or punctuation, turn a such simple phrase into immortal, graceful poetry, and anybody who criticizes you is an idiot and a jealous, loudmouth, know-nothing halfwit who wouldn't know true writing talent if it came up to them and took a whiz on their shoes!" If so, I have to confess that I did not, alas, write it. But thanks, anyway. That famous phrase is from, as it turns out, Thomas Paine, who used it in his "The American Crisis." He actually wrote Cached - Similar"These are the times that try men's souls," so you can see how I vastly improved upon this Paine guy by cleverly inserting the word "indeed," brilliantly using a couple of commas, and deftly removing the "the." This, I am sorry to say, however novel and clever I hope it is, is sadly indicative of the woefully low level of personal creativity that I display these days, probably contributing to my appallingly "relaxed" attitude towards blatant, outright plagiarism. In my own defense, please remember that what I admittedly lack in talent or professional ethics, I make up for with other, perhaps more endearing, qualities. I mean, who can deny my sheer, screaming paranoia? And with that, I throw in -- for free! -- a howling, homicidal anger, and an incoherent, blubbering blood-thirst for awesome revenge against the treachery and betrayal of America by legions of greedy, smug morons for the last half century, ranging from the lowliest leftist voter thinking the government is there to "help people," up through the vast, expansive realms of "We're helping everyone, and borrowing ourselves into bankruptcy to do it" governments, and, perhaps most painful of all to see, up through the awful Supreme Courts. All of these inexcusable dimwits are totally ignorant of the Constitution of the United States literally requiring that money shall be ONLY gold and silver specifically so that the money supply can't grow, thus preventing any inflation in the money supply, thus preventing the emergence of inflation in prices, and thus also preventing unsustainable, bankrupting bubbles in sectors like housing bubbles, stock market bubbles, bond market bubbles, size of government bubbles, size of debt bubbles, number of government dependents bubbles, and the entire, total tonnage of pure economic stupidity and simpleminded sophistry espoused by loathsome neo-Keynesian econometric halfwits like Alan Greenspan and Ben Bernanke and every other worthless butt-wipe who works, or ever worked, at the evil Federal Reserve, and the overwhelming proportion of the nation's colleges and universities, all of whom I blithely brand as a clot of clownish, intellectually-impoverished, poseur dimwits who see NOTHING wrong with ANY of this monetary and fiscal absurdity, when it is perfectly, blazingly, blatantly obvious that there is absolutely nothing right about it, and that is why it is a total failure and has achieved such disastrous results, Decade after freaking decade! Dimwits all! Whew! I pause to catch my breath, surprised at the raw anger pouring out of me, perhaps borne of fear that my wife will notice that I took a lousy twenty bucks from her purse when she, foolishly, was not keeping an eye on it, like I am personally to blame for her lack of responsibility and need to go to the bathroom. Or perhaps I am upset about how the time is soon coming for rioting mobs of desperate people frantically flooding through the streets, their money inflated to worthlessness, ruined financially, economic zombies, looking for a handout and someone to blame for their plight, all because the evil Federal Reserve under the satanic Alan Greenspan, from 1987 to 2006, started the bank's treacherous trend of creating so incredibly much, so astonishingly much, so tragically too, too much money and credit, based on the sorry excuse of error-filled equations in worthless neo-Keynesian econometric lunacy. And then these angry, desperate people, making the mistake of their lives, will think to themselves "Hey! That Irritating Mogambo Moron (IMM) was right! If we had invested in gold, silver and oil like he said to do, we would be rich, instead of being poor and wretched! Let's go over to his house, attack his stupid Mogambo Bunker Of Doom (MBOD), and if any of us survive the assault, we can split the gold and silver, and any leftover ammunition, we find inside!" Through the periscope of the bunker I will, of course, see them coming. As they reach the perimeter that I have arbitrarily and secretly designated, I will give the klaxon a mighty, high-decibel blast, and the PA system will blare "Intruder alert! Intruder alert!", all of which has a very, very intimidating effect, as I found out the hard way when I came home one night, staggering from another alcohol-related incident, accidentally tripped the alarms and, just as accidentally, peed in my pants I was so startled and scared! Well, it sure made a lasting impression on me! And on the family and neighbors, too, who came out to see what the fuss was about, and they saw me, and they laughed at me, mocking me, their insulting jeering and jabbering cutting through me like a Red Hot Knife Of Shame (RHKOS), yet they turn around the very next day and wonder why I hate them so much! Stupid or what, huh? Anyway, through the Mogambo Communication Portal (MCP), I will ask them "What do you want, or shall I startle you once again?" They will say "We want you to give us some dry pants and some clean underwear; we peed all over ourselves here! And we want all your gold and silver, too, so that we can buy ourselves some food and get some nice clothes that haven't been slept in or peed in!" I, of course, will say "No. But as true Democrats, you got the attitude down perfectly!" After a lot of flustering and blustering, stumbling about in their confused stupidity, I will ask "Are you the same people who think that an idiocy like 'government deficit-spending to make up for lack of private spending because everybody is bankrupted under a massive load of debts, which is why they stopped spending' could possibly, possibly, ever in a million jillion years, work, when it never, ever has? Are you they? Is you them? Which or neither? Answer me! Now!" Of course they will say "What? Uh, no, we are not those people, we don't think!" I will laugh at them, and reply with a twinkle of amused merriment in my voice, "Are you telling me that you instantly, intuitively understand, like normal people with even half a brain, that a constant freaking flood of new, government money disastrously distorts an already distorted, government-centric economy, making a normal recovery totally, completely impossible, as seemingly proved --proved! -- because nobody has ever, EVER heard of a case, in all these thousands of years of history, of robust private demand, despite cancerous over-indebtedness (and impending pandemic bankruptcy) somehow, perhaps magically, growing to replace the artificial demand created with massive government deficit-spending of new fiat money?" Having accumulated a lot of experience over the years, educating a lot of people about the inflationary horrors of allowing the Federal Reserve to create so much excess money and credit, and how you would have to be an idiot not to be buying gold and silver, I recognize that this is when the average person says "Huh? What? I don't understand!", as does, obviously, Ben Bernanke. Don't believe me? Then find out for yourself! Call the Federal Reserve in Washington, D.C., and when they answer the phone, say "I want to ask that big butthead Ben Bernanke if he has ever heard of a case of robust private demand, despite over-indebtedness, replacing the artificial demand of massive government deficit-spending? Now, put him on the line, and make it snappy, will ya? I ain't got all day!" Go ahead! Call! I'm betting that, like when I called and asked them this same question, they put you on hold and never picked up the call, or you were mysteriously disconnected when you called them back, over and over, getting more angry each time to helpfully let their Customer Service Department know how angry I am about Bernanke ducking my calls, probably because Bernanke DOES think this stupid crap! Thus, it's proved, I tells ya! Proved! If he's innocent, why doesn't he come forward and deny it? And that interesting-yet-terrifying tidbit of news is just another teensy, tiny clue to buy gold, silver and oil. All the other zillions of wonderful reasons to buy gold, silver and oil have 4,500 years of history backing them up. And with evidence like that, against the foolish thinking of a guy who won't even answer the phone, what can one say except "Whee! This investing stuff is easy!"?   |
| Can Gold Keep Its Luster in 2013? Posted: 06 Dec 2012 03:02 PM PST Gold took a double hit recently based partly on a news item from the rumor mill that a large fund in Asia was selling to "run the stops." Read More...  |
| ECB mulls negative rates as Europe's economic crisis deepens Posted: 06 Dec 2012 03:01 PM PST December 06, 2012 11:42 AM - The European Central Bank has slashed its eurozone growth forecasts and warned that recession will drag on into the middle of next year, sending the euro plunging below €1.30 to the dollar. Read the full article at the Telegraph...... |
| Gold Eagle sale up 150% since QE3 announcement Posted: 06 Dec 2012 02:49 PM PST DITCHING BEFORE THE FISCAL CLIFF By Peter Schiff | Euro Pacific Precious Metals - Turn on the TV and this is what you'll hear: The US budget is heading for a fiscal cliff. If a deal isn't reaching in Congress by the end of this year, a combination of automatic tax hikes and budget cuts will [...]  This posting includes an audio/video/photo media file: Download Now |
| Kaiser - Bracing for the extinction of 500 juniors or an entire institution? Posted: 06 Dec 2012 02:33 PM PST John Kaiser of Kaiser Research Online writes: "During my travels the past couple months I have been repeatedly surprised by declarations from others that about 500 Canadian listed resource juniors will disappear within the next year unless there is a remarkable turnaround for the resource sector in 2013. These numbers have their origin in my May 23, 2012 Kaiser Blog post Staving off Mass Extinction with the Big Anomaly which provided the grim statistics on which this now widely circulated warning is based. Since then the situation has worsened, as is evident in the figures as of November 30, 2012 which active KRO members can see updated on a regular basis in KRO Key Charts. More... Kaiser Research Online tracks all companies listed on the TSX and TSXV who appear to be involved with resource sector exploration, development or mining, as well as a handful of former resource juniors which have shifted their focus to energy or other arenas. We do not track the capital pools until they have made a qualifying transaction involving the resource sector, but we do track resource juniors that have abandoned their projects, reorganized, and are shells looking for a new focus. Currently we have 1,803 companies that are trading. The Working Capital Distribution chart above shows the percentage trading in each of the 12 price categories, the median working capital for each price range, and the average working capital. It also shows separately compiled figures whose particulars KRO members can peruse using our KRO Search Engine or by clicking the links in the table below. To read the entire article and view several excellent charts follow the link below: http://www.kaiserbottomfish.com/s/KaiserBlog.asp?ReportID=559842
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| The Answers To Today's Most Common Questions Posted: 06 Dec 2012 02:32 PM PST My Dear Extended Family, This should serve as an answer to more than 300 emails: 1. There is no top in place for the gold price. Absolutely none. 2. This reaction is an operation using the MSM multitude of reports on the Fiscal Cliff sure to occur in order to scream unopposed deflation (wrong). Continue reading The Answers To Today's Most Common Questions |
| Ben Davies - Gold Shorts Are Now Exposed To a Price Spike Posted: 06 Dec 2012 02:26 PM PST  Today Ben Davies spoke with King World News about the shorts now being vulnerable to a price spike in gold. He also discussed surging Chinese demand and supply troubles. But first, here is what the rising star had to say about the action in gold: "I actually think we are in and around the lows now, and the market will continue to stabilize here. The other point would be that the fundamentals behind gold, in terms of mining supply, the cost of extraction, the grade degradation, this is a real issue."This posting includes an audio/video/photo media file: Download Now |
| 167% in Six Months – Tech Speculation Lessons Posted: 06 Dec 2012 02:14 PM PST Synopsis: What a revolutionary pharmaceutical company teaches us about technology investing. We are not ones for bragging about our accomplishments. Whether you believe in such mystical forces as karma or not, it's generally a good rule that those who take too much credit for their successes are soon rewarded with a streak of the opposite, just to keep them humble. However, it is just as important to take stock in your achievements as it is your failures, if you are going to learn and grow as an investor (or in any pursuit). As such, this week I want to introduce you to the story of a company that we recommended to our investment advisory subscribers back in April 2012. It's since gone on to gain significantly. The stock rose 297% from our initial recommendation to the day the "sell" call was made. What's important about this small company is why it made our investment list to begin with, and what its characteristics can tell us about successful speculation in the arena of up-and-coming technology companies. Sincerely,
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| Gold Seeker Closing Report: Gold and Silver End Slightly Higher Posted: 06 Dec 2012 02:11 PM PST Gold dropped $7.56 to $1686.04 at about 8:45AM EST, but it then jumped to as high as $1703.00 in late morning trade and ended with a gain of 0.26%. Silver surged to as high as $33.259 and ended with a gain of 0.4%. |
| Gold Daily and Silver Weekly Charts Posted: 06 Dec 2012 02:08 PM PST  This posting includes an audio/video/photo media file: Download Now |
| Gold & Silver Regain $1700 & $33 on 10 Ton Physical Gold Order Posted: 06 Dec 2012 01:36 PM PST After being treated to standard COMEX open waterfalls that saw gold smashed as low as $1684 and silver under $32.50 on the open, both metals made a vertical move to the upside around 10am EST. Gold cleared $1700 trading as … Continue reading |
| Why did Central Banks Stop Selling Gold? Posted: 06 Dec 2012 12:59 PM PST In 2009 the signatories of the Central Bank gold Agreement effectively stopped selling gold. This was just after signing the third Central Bank Gold Agreement which lasts until September 26th 2014. Why? In 1999, the first of such agreements was signed by the U.K. and was called the Washington Agreement. It received the tacit blessing of the U.S.A. and Japan. This was followed by the signing of the Central Bank Gold Agreement, which ran from 27th September 2004 to the 26th September 2009. Ostensibly to accommodate the I.M.F.'s sale of 403 tonnes of gold on their own books, a third Central Bank Gold Agreement was signed to run from the 27th September 2009 to the 26th September 2014. Apart from the up-to 7 tonnes year of gold sales by Germany's central bank for the minting of gold coins, there have been virtually no sales of gold from the original signatories of their gold. In fact the previously announced sales (going back to the turn of the century) have not been fulfilled completely, even now. Once the I.M.F. completed their sales of gold, the absence of the developed world's central banks from the sale side of gold spoke volumes! How? |
| Regarding Gold: Follow The Money Posted: 06 Dec 2012 12:51 PM PST Before I address my topic du jour, I wanted to follow-up quickly on my post about the weakening economy earlier this week. Gallup released a report that was picked up by Zerohedge which showed that unemployment mysteriously jumped higher than previously thought after the election. You can read about it here: LINK Of course, Hurricane Sandy will be blamed for this, but I would suspect that Gallup knows a little more about constructing statistical studies than to make that sampling error. More likely is lackluster holiday hiring and the release of temporary Government workers hired to help out with the election. As for the likelihood that holiday employment was weaker than usual, it turns out that not only were Black Friday sales less than forecast, but post-Black Friday sales actually dropped over 3%: LINK The reader is free to draw his own conclusions, but it appears as if the data coming in now supports my thesis on the economy. To transition this into my title topic, there is no question in my mind that the Fed is going to expand its newly-minted QE3 program. This has been well-telegraphed, but I believe what is ultimately implemented over the next 6 months will exceed expectations, as printing money is the time-honored strategy of attempting to prevent economic depression AND to finance Government spending. The best way to take advantage of this imminent further devaluation of the dollar is to move as much of your investable funds into physical gold and silver as you can. Also, you can create rate of return leverage with this by investing in mining stocks (which are egregiously cheap right now). To implement this strategy, you would be piggy-backing an investor class with the best look at "inside" information regarding the issues of money printing and economic health: the world's Central Banks. As chronicled by this report, Central Banks globally have purchased a record amount of over 500 tonnes of gold during 2012: LINK To put this in perspective, the world's annual production of gold is around 2500 tonnes, give or take a few tonnes. This output, despite the rise in China's gold mining production, is in decline - some would say serious decline. So if Central Banks are buying at least 20% of annual production (it is thought that China is actually buying a lot more gold than they care to report), and likely will increase that off-take in 2013, and if every other source of demand just stays constant, there's only one way the price of gold can go. There will be plenty of other factors that will drive the price higher, but this is just the sheer supply/demand dynamic. Given that this is the case, you have to ask yourself why the Central Banks are now hoarding gold. To me the answer is obvious: the entities that are in control of the money supply are taking advantage of this powerful position by buying the one asset, in advance, that will rise in value as the supply of printed money rises. And that would only occur if they intend to print a lot more of it. Please note that, as always, I advise against using paper ETFs in lieu of buying real physical gold. Although beyond the scope of this commentary, ETFs are not the same thing as owning real gold for many reasons. I plan on updating my research report on GLD sometll post it here when that happens.  |
| Posted: 06 Dec 2012 12:40 PM PST Courtesy of Dr. Paul Price : Extensive money printing (QE programs) have had many traders stocking up on Gold via ETFs, ETNs, physical coins & bars and through shares of precious metal mining companies. This urge to own hard assets in a soft money environment makes sense on an intuitive basis. |
| Posted: 06 Dec 2012 12:17 PM PST December 6, 2012 [LIST] [*]Holiday shopping drives economic growth? Bah, humbug... Time for some Yuletide cheer, 5 style! [*]Gold mired below $1,700... but Guenthner says there's another level to watch that's more important [*]Cash from trash, and other investable insights Chris Mayer is bringing to the Rancho Santana Sessions [*]Home sweet home, until the bulldozer arrives: Cautionary tales from Jersey to Bordeaux [*]"Fiscal cliff" vs. "austerity measures"... taxing political contributions... and other reader musings [/LIST] "Commerce and religion and patriotism are all part of what we have come to know as the holidays," opines Leigh Eric Schmidt, a humanities professor at Washington University in St. Louis. "Consumption during the holiday season has come to have a kind of patriotic quality in the United States," he tells The New York Times. And it didn't start with George W. Bush -- who, as it turns out, never did tell Ame... |
Investment Banks Argue Over 2013 Outlook
Today Ben Davies spoke with King World News about the shorts now being vulnerable to a price spike in gold. He also discussed surging Chinese demand and supply troubles. But first, here is what the rising star had to say about the action in gold: "I actually think we are in and around the lows now, and the market will continue to stabilize here. The other point would be that the fundamentals behind gold, in terms of mining supply, the cost of extraction, the grade degradation, this is a real issue."
A number of market analysts and gold-industry insiders are warning about a possible shortage of gold supply. Barrick CEO Jamie Sokalsky recently stated that since gold production is inelastic (i.e., insensitive to price changes) 
In the summer of 2011, as the United States government approached its supposed "debt ceiling", there was a raucous debate in Washington. The highly publicised (and politicised) nature of the battle captured the market's attention and cast a spotlight on American profligacy. It also clearly showed that there was no legitimate plan going forward to significantly address the government's severe debt problem.
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