Gold World News Flash |
- 3 Incredibly Key Charts For Battered Gold & Silver Bulls
- Is Silver The Tech Industry’s Kryptonite?
- WHOAH: Got 1794 PHYSICAL? Silver Dollar Sells For $8.5 Million at Auction [Over $10 Million With Auction Fees]
- Suspicion about Bundesbank's gold dealings with Fed is getting respectable
- Encouragement from Jim Sinclair: Don?t Let the Bastards Drive You Nuts ? Stand Firm & Stay the Course
- By the Numbers for the Week Ending January 25
- Guest Post: The Gold Guarantee Blowing Up In Singapore?
- David Morgan Interview with INN, 2013 SILVER Predictions – YouTube
- British Economy Is WORSE than During the Great Depression
- Debt and Guns Consume Washington D.C. – Weekly News Wrap-Up – YouTube
- Marc Faber Fears 1987 Redux As "Markets Will Punish Interventionists"
- The Gold Price Lost $13.10 Closing Near the Low at $1,656.40
- Commodities: Metals Under Fire, Crude Oil Searching for Direction
- Making Money Metal Detecting? – YouTube
- Jim Sinclair About Gold: Do Nothing To Confuse The Shorts
- Encouragement from Jim Sinclair: Don't Let the Bastards Drive You Nuts – Stand Firm & Stay the Course
- Gold Seeker Weekly Wrap-Up: Gold and Silver Fall About 2% on the Week
- Three charts ensure gold's continued ascent, von Greyerz tells King World News
- Jim Sinclair: Gold is the ultimate battle between good and evil
- Gold & Silver Cycle Charts Look Constructive
- Now You, Too, Can Predict When China Will Overtake America Using This Cool Interactive Tool
- A Plea From Jim Sinclair: You Are Being Played ? Do NOT Give Up Your Gold!
- Gold Daily and Silver Weekly Charts - No Need for Safety Buy Stocks
- Geithner's Farewell Present: Gold Slammed, S&P Over 1,500 On Best January In Stocks Since 1994
- Royal Canadian Mint Starts Rationing Silver Coins, January 25, 2013 – YouTube
- Defend Yourself By Not Giving In – Day 2
- A Plea From Jim Sinclair: You Are Being Played – Do NOT Give Up Your Gold!
- Gold and Silver Disaggregated COT Report (DCOT) for January 25
- COT Gold, Silver and US Dollar Index Report - January 25, 2013
- The Daily Market Report
- Timmins Gold CEO notes the paper gold fraud
- Gold Update: A Resistance Area To Watch
- Michael Pento: Here's My Biggest Fear & This Is What's Hammering Down The Price Of Gold Today
- Jim Sinclair: Defend yourself by not giving in
- Reinstatement sought for silver market rigging class-action lawsuit
| 3 Incredibly Key Charts For Battered Gold & Silver Bulls Posted: 26 Jan 2013 12:30 AM PST from KingWorldNews:
Of course the President of the Bundesbank, Weidmann, has now begun criticizing Japan about starting currency wars. He also said its monetary policy was totally unacceptable. Many others have joined in this criticism. We have the UBS Chairman, who was the former President of the Bundesbank, and Mervyn King from the Bank of England also did the same thing." |
| Is Silver The Tech Industry’s Kryptonite? Posted: 25 Jan 2013 11:00 PM PST from Silver Vigilante:
In an email reply from Tyler Durden of ZeroHedge to SilverVigilante about the notion, he replied: "Nothing to do with silver and everything to do with lack of demand" And if it is, is it that to the banks as well? Recent rumors around the delay of Apple's iMac have led to speculation that their product has experienced delay due to delays on silver in China. As SV reader Jack Lee notified us, there have been numerous hardware based products from flagship companies that use silver and have been delayed since April 2012. The issues have cropped up across the tablet and smart phone industry, affecting the old-guard and current powerhouses like Google and Apple. Here is a list of the products that have been delayed since April 2012:
3. iPad Mini Cellular (Apple, Inc.) |
| Posted: 25 Jan 2013 10:32 PM PST from CoinWeek.com: Ed. Note: Hey big spender, that $10 Million in fiat woulda bought approximately 294,000 Slave Queens. |
| Suspicion about Bundesbank's gold dealings with Fed is getting respectable Posted: 25 Jan 2013 09:18 PM PST 11:37 ET Friday, January 25, 2013 Dear Friend of GATA and Gold: Interviewed today for market analysis by Daniela Cambone of Kitco News, Cameron Hanover Managing Partner Vince Lanci disparages the Bundesbank for "lying" as it changed positions on repatriating Germany's gold reserves. Lanci also speculates that the German gold may not be readily available because the Federal Reserve Bank of New York may have loaned it to bullion banks to facilitate the gold carry trade over the years. Lanci doesn't claim to know anything in particular on the subject. What is remarkable about his interview with Kitco News is its showing that the Bundesbank's gold repatriation has made discussion of central bank gold loans respectable even as financial journalists and commentatators still are not prepared to put the compelling questions to the primary sources, the central banks themselves, as GATA long has been doing in litigation and through ordinary inquiries: http://www.gata.org/node/11661 http://www.gata.org/node/11862 http://www.gata.org/node/11988 As is shown by the material posted at the first link above, the Federal Reserve grudgingly admitted to GATA in 2009 that it has secret gold swap arrangements with foreign banks. Thus swaps as well as loans should be part of any questioning of central bank gold policy. And as was documented by the confidential International Monetary Fund report obtained and published by GATA last month, central banks loan and swap gold and conceal the transactions to facilitate their secret interventions in the gold market: http://www.gata.org/node/12016 The Bundesbank isn't alone in changing its tune here. In an interview with Kitco News a month ago Lanci himself sounded much more skeptical of central bank gold market manipulation than he sounds today: http://www.gata.org/node/12015 How much longer can this neglect of the obvious continue? If suspicion now can be expressed in respectable circles that central banks may have secret policies and practices with gold, maybe it won't be too much longer before a few financial journalists drop their assumption that central banks should not be questioned and begin attempting actual journalism. If that ever happens, it will be the end of central banking as we know it, as central banking's primary power arises from its never having to account for itself in ordinary democracy, a power conferred on it only by incompetent, cowardly, or dishonest financial journalism. Video of the Kitco News interview with Lanci is 10 minutes long, with the gold discussion beginning at 4:15, and is posted here: http://www.kitco.com/KitcoNewsVideo/index.html?v=13-01-24_Vince_Lanci_1 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: California 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... 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| Posted: 25 Jan 2013 08:32 PM PST [B][B][B][B][B][B][B][B][B][B][B]"[B]Follow the [COLOR=#0000ff][U]munKNEE"[/U][/COLOR] [/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B]via twitter &[B][B][B][B][B][B][B][B][B][B][B][B][B][B][B][B][B] Facebook [/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B]or [B][B][B][B][B][B][B][B][B][B][B][B][B][B][B][B][B]Register [/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B]to receive our daily Intelligence Report There is a nasty game taking place which relies entirely on scaring you out of your wits. Yes, out of your mind, so you sell something of great value for peanuts to the exact party playing with your head via price. When you must look at the action, remember there is a buyer for every seller. That buyer is not scared out of his/her wits if you sell to stop the pain you are in. This period is, in my opinion, the last and largest attack you will see perpetrated on us before gold closes over $3500. This period of pain will not be measured in months... |
| By the Numbers for the Week Ending January 25 Posted: 25 Jan 2013 07:55 PM PST This week's closing table is just below. Vultures, (Got Gold Report Subscribers) please note that updates to our linked technical charts, including our comments about the COT reports and the week's technical changes, should be completed by the usual time on Sunday (by 18:00 ET). To subscribe to Got Gold Report please click on the "Subscribe to GGR" button at top right. Join us today. |
| Guest Post: The Gold Guarantee Blowing Up In Singapore? Posted: 25 Jan 2013 06:35 PM PST Originally posted at The World Complex blog, Today's reminder of the importance of taking physical delivery of gold at the best price possible comes from Singapore. The Gold Guarantee is (was?) a company based in Singapore allowing "investments" in gold. They had two separate schemes. One allowed victims to take delivery of their gold, but at an approximately 30% premium, albeit with a monthly repayment of a small portion of the premium for as long as the gold was held (and the company remained solvent) and an option for the company to buy back the gold at a price related to the spot price. The other scheme offered a gold certificate and a higher monthly payout. The monthly payouts amounted to over 20% p.a. I am unaware of any method by which a company could sustain such payouts through normal business practices. Were I aware of such a business, I would invest in it. Today's Straits Times reports (unfortunately this story is not in the free online section) that the owner of the company is unreachable, and the offices have been shuttered since about January 9. The last communication most shareholders had was an email sent on January 8, announcing a merger between The Gold Guarantee and a similar company called Asia Pacific Bullion. Customers have been dropping by the office and showing up at the CEO's home since he vanished, but to no avail. Some are facing losses of hundreds of thousands of dollars. The latest gold price reported on the company's website is dated January 7. What appears to be an apologist blog posting for the company is dated January 3. Here is a link to a discussion group which includes some unfortunates who bought gold from this company within the last few months. Note the advice they have received. The scheme looks like a carbon-copy of the Geneva scam which fell apart in October. Avoid certificates, and if you take delivery of gold, verify the spot price (it should be part of your due diligence). Update: Here is an article on the topic by a local financial blogger. |
| David Morgan Interview with INN, 2013 SILVER Predictions – YouTube Posted: 25 Jan 2013 06:17 PM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]]  |
| British Economy Is WORSE than During the Great Depression Posted: 25 Jan 2013 06:08 PM PST Leading British newspaper the Telegraph reports today:
(In a separate article, the Telegraph notes that the UK is heading for an unprecedented triple dip, as its economy shrunk .3 percent in the fourth quarter of 2012). We’ve repeatedly warned that this is worse than the Great Depression … What Do Economic Indicators Say?We’ve repeatedly pointed out that there are many indicators which show that the last 5 years have been worse than the Great Depression of the 1930s, including:
Mark McHugh reports:
(As we’ve previously explained, the Fed has intentionally squashed money multipliers and money velocity as a way to battle inflation. And see this) Indeed, the number of Americans relying on government assistance to obtain basic food may be higher now that during the Great Depression. The only reason we don’t see “soup lines” like we did in the 30s is because of the massive food stamp program. And while apologists for government and bank policy point to unemployment as being better than during the 1930s, even that claim is debatable. What Do Economists Say?Indeed, many economists agree that this could be worse than the Great Depression, including:
Bad Policy Has Us StuckWe are stuck in a depression because the government has done all of the wrong things, and has failed to address the core problems. Instead of bringing in new legs, we keep on recycling the same old re-treads who caused the problem in the first place. For example:
This isn’t an issue of left versus right … it’s corruption and bad policies which help the super-elite but are causing a depression for the vast majority of the people. |
| Debt and Guns Consume Washington D.C. – Weekly News Wrap-Up – YouTube Posted: 25 Jan 2013 06:07 PM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]]  |
| Marc Faber Fears 1987 Redux As "Markets Will Punish Interventionists" Posted: 25 Jan 2013 04:59 PM PST "Regardless of what the markets do near-term, a correction is overdue," Marc Faber tells Bloomberg TV's Betty Liu. From discussing Europe's 'apparent' stabilization - "anything can go up when you print money"; to US equity exuberance - "a correction is overdue and February is a seasonally weak month"; Faber sees no change from Geithner's handover to Lew as he opines: "The only thing I know is one day the markets will punish the interventionists, the Keynesians and the monetary policy that the Federal Reserve and ECB has enforced because the markets will be more powerful one day. How will this look like? Will the bond market collapse or equity markets become a bubble, which would be embarrassing for the Fed's sake if the U.S. market became a gigantic bubble and at the same time the economy does not recover."
Faber: on whether he agrees with George Soros that Europe has been stabilized:
On whether he's getting out of European markets:
On whether there will be a correction on the S&P:
On why he's not going big on any short in the market:
On Tim Geithner's legacy and whether anything will change under Jack Lew:
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| The Gold Price Lost $13.10 Closing Near the Low at $1,656.40 Posted: 25 Jan 2013 04:30 PM PST Gold Price Close Today : 1,656.40 Gold Price Close 18-Jan-13 : 1,686.60 Change : -30.20 or -1.8% Silver Price Close Today : 31.18 Silver Price Close 18-Jan-13 : 31.90.2 Change : -0.722 or -2.3% Gold Silver Ratio Today : 53.124 Gold Silver Ratio 18-Jan-13 : 52.868 Change : 0.26 or 0.5% Silver Gold Ratio : 0.01882 Silver Gold Ratio 18-Jan-13 : 0.01891 Change : -0.00009 or -0.5% Dow in Gold Dollars : $ 173.11 Dow in Gold Dollars 18-Jan-13 : $ 167.30 Change : $5.81 or 3.5% Dow in Gold Ounces : 8.374 Dow in Gold Ounces 18-Jan-13 : 8.093 Change : 0.28 or 3.5% Dow in Silver Ounces : 444.86 Dow in Silver Ounces 18-Jan-13 : 427.86 Change : 17.00 or 4.0% Dow Industrial : 13,870.75 Dow Industrial 18-Jan-13 : 13,649.70 Change : 221.05 or 1.6% S&P 500 : 1,500.67 S&P 500 18-Jan-13 : 1,485.98 Change : 14.69 or 1.0% US Dollar Index : 79.748 US Dollar Index 18-Jan-13 : 80.030 Change : -0.282 or -0.4% Platinum Price Close Today : 1,693.90 Platinum Price Close 18-Jan-13 : 1,672.10 Change : 21.80 or 1.3% Palladium Price Close Today : 740.25 Palladium Price Close 18-Jan-13 : 722.00 Change : 18.25 or 2.5% The GOLD PRICE lost $13.10 today to close near the low at $1,656.40. Silver lost 51.5 cents to 3118c. The silver and GOLD PRICE are not at a point -- $1,655 and 3100c -- where they must either catch or fall further, to $1,640 and 2975c. Clearly, jumping over $1,700 will take some work. Looking at it through the optimist's lens, today's gold retreat did no more than take gold down for a final kiss good-bye to the downtrend line from the high from mid-November. That's $1,656. Final kiss good-bye, I remind y'all, occurs after a market breaks through resistance, peaks, then corrects and touches back to that resistance line before it once again takes off. I've been through these long soul-harrowing times before. You think metals have begun to take off again, only to disappoint you again. It can last a long time. Why shouldn't silver and gold go lower? The low on 4 January was too complete from a lot of angles. Most likely outcome will see silver and gold trading sideways next week, then attempting that $1,700 mark in a week or two. Y'all think this is bad because you weren't watching the gold and SILVER PRICE in October and November 2008. Gold dropped 32% from its 2008 peak and silver gave up 105% of its preceding gain. Brutal, but by no means the end of the bull market. From an 880 cent and $704.50 low silver and gold rallied for 3 years. As I keep on telling y'all, the bull is always working to shake off as many riders as possible. Wise words for today: "Keep about your work. Do not flinch because the lion roars. Do not stop to stone the devil's dogs. Do not fool away your time chasing the devil's rabbits. Do your work." Again today stocks reached new high closes for the move. Dow added 45.42 (0.33%) to 13,870.75 while the S&P500 moved about the same, up 5.85 (0.39%) to 1,500.67. That close over 1,500 offers big round number support to morale, and never mind that it's only 2/3 of a point over 1,500. Should you take a ruler and draw a line across the 12,875 Dow high in May 2011, the 13,238 in May 2012, and the October 2013 high at 13,662, you have an upward slope that defines the upper Jaw of Death, the upper boundary of a broadening top. (Lower boundary runs from May 2011 at 12,876 through 12,035 in June 2012.) Against that backdrop, within those Jaws of Death, all the present stock rally is playing out. Keep that in mind. (S&P500 backdrop is about the same.) It is possible the Dow might punch through that upper jaw and reach for the 14,000 high made in October 2007. Witnessing against that is a VERY overbought RSI (75.69 today when 70 is overbought), more so than it was in 2007. MACD -- market's distance above its moving averages -- isn't quite that bad, but strongly overbought. Stocks have also traded in a rising wedge since November, and the last three days have taken them above that wedge's point. Generally a rising wedge resolves by dropping. Stocks have also risen 8 days running. It's also possible that stocks will break here for a correction, then renew their rise into March before their final breakdown, assuming that the next one isn't the big one. But in the teeth of all the Fed's manipulation and the President's Plunge Protection Team and all the twitching and tweaking they can do, stocks are locked in a primary down trend (bear market), and those who have been seduced into believing that a new bull market is arrived and Dow 36,000 lies just around the corner will be undeceived in dust, sackcloth, ashes, weeping and wailing. Dow in gold has broken above resistance and has an upward target of about 9.12 oz (G$188.53). Today it stands at 8.39 oz (G$173.44). Dow in silver was trying to break down but last two days has rallied no, gapped, above the 200 DMA and the 20 DMA and penetrated the downtrend line. Target here is about 475 oz, from today's 445.3. US dollar index has a tee-tiny uptrend working, but today lost 23.7 basis points (0.3%) to 79.748. Euro finally burst through $1.3400 resistance to $1,3460, up 0.64%. Target now becomes $1.3486, the Feb. 2012 high. Yen made ANOTHER new low for the move today at 109.98 (-0.69%). I reckon you could take a sauna in the offices of the Federal Reserve and the ECB today, they are so mad at the Japanese for their jawboning competitive devaluation. Lower the yen falls, more it steams the other central banks. I reckon the proverb is true, there is no honor among theives. 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 © 2013, 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.  |
| Commodities: Metals Under Fire, Crude Oil Searching for Direction Posted: 25 Jan 2013 04:24 PM PST courtesy of DailyFX.com January 25, 2013 08:43 AM Metals are broadly under pressure as investors appear to rethink the asset group’s overall appeal while crude oil is searching for direction along with sentiment trends. Metals are broadly under pressure as investors appear to rethink the asset group’s overall appeal while crude oil is searching for direction along with sentiment trends. Talking Points [LIST] [*] Gold Under Pressure as Investors Appear to Rethink the Appeal of Metals [*] Crude Oil Searching for Direction Amid Lackluster Risk Sentiment Trends [/LIST] Metals are broadly under pressure into the end of the trading week even as the Federal Reserve’s balance sheet hits a record-high $3.013 trillion, a development that relatively recently would have sent anti-fiat assets soaring on the back of inflation-hedge demand. In the absence of a readily identifiable stand-alone catalyst, the move may perhaps reflect a growing sense that metals... |
| Making Money Metal Detecting? – YouTube Posted: 25 Jan 2013 04:03 PM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]]  |
| Jim Sinclair About Gold: Do Nothing To Confuse The Shorts Posted: 25 Jan 2013 03:47 PM PST When Jim Sinclair (JSMineset) talks you better listen carefully. He is one of the most experienced investors in the gold industry. He has made a fortune with gold trading in the 70′s and is now running a royalty based gold company in Africa. In a two part series to his subscribers he explains his prospects for gold. More importantly he advices what every "gold investor" should do and explains the current market dynamics. Hence he puts the recent sudden price take downs and the 1.5 year consolidation into perspective. Jim Sinclair confirms once again that the gold price fundamentals and ongoing currency wars underwrite a recovery in the gold price. We can expect a move to new highs soon. The core of his message is the following:
The marketAlthough the gold price has been going up on average between 12% and 17% per year for 12 consecutive years now, the gold price is being suppressed as described in detail in earlier articles including gold manipulation proven on the charts, how can the gold price drop in a matter of milliseconds, manipulation of gold price, silver manipulation explained in a simple way. Now this should not scare anyone off, because price suppression is "the new normal" in a lot of markets. Every individual makes use of interest rates. Well, the core interest rate (LIBOR) has been manipulated for many years. We all became victim of it, mostly without noticing. Jim Sinclair reveals on a high level how the gold price suppression is being played by the manipulators.
How the shorts are playing itEvery gold investor should stay calm and rely on his belief in the fundamentals. Short term prices do not make a market. For sure it is scary to witness sudden price drops without any reasonable explanation. But that this the whole idea: shake you out of your long position.
Detect the weak spot of your "opponent"So if this is "a game" as Jim Sinclair explains then you should participate as in a real contest. The weak spot of the opponent is what you should focus on. Everyone has his weak spot. The weakness of the long investor is to get fooled by irrational price drops (as discussed in the previous paragraph). The weak spot of the short investor is that the longs are not influenced by their moves and simply … do nothing! As simple as it sounds, this is just very smart.
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| Posted: 25 Jan 2013 03:44 PM PST "Follow the munKNEE" via twitter & Facebook or Register to receive our daily Intelligence Report There is a nasty game taking place which relies entirely on scaring you out So writes Jim Sinclair (www.jsmineset.com) in edited excerpts from his original letter/article* entitled Defend Yourself By Not Giving In – Day 2.
Edited excerpts from Sinclair's letter read as follows (Read Part 1 here): My Dear Extended Family, Take this challenge a day at a time. The fundamentals of gold's price and currency wars underwrite not only a recovery in the gold price, but a move to new highs from the base to be set soon. You have a weapon that has ultimate power to frustrate the price manipulation. All you need to do is to do nothing whatsoever which will confuse the shorts. The manipulators that focus on moving price down and not selling volumes of gold to accomplish it wager on the fear mechanism of price decline to pressure you beyond your ability to reason logically. What the gold banks and short of gold share funds count on is that you will injure yourself just to stop the pain of loss. Stay away from the well known chat sites that harbor paid-for bashers that say nearly insane things to scare the hell out of you. If the big boys cannot terrify you to the point of taking your position away from you, a firm bottom will come into play very soon. Technicals are good, but simply stated, the manufactured downside pressure stops only when it does not work. Those pressuring gold and silver prices clearly are not long position sellers looking to change their positions into cash dollars. This is a solid fact based on the manner of their selling. If you had 2 tonnes of gold and wanted to sell you would fire any broker that went into any market and yelled "20 tonnes for sale!" when the bid was for 100 ounces only. Take comfort knowing that the early am takedown and takedowns in late Asia time are not valid sellers, but painters of the price for their best interest. Nobody is so stupid as to announce they want to sell a major part of one year's production of gold or silver when there is no market to absorb any reasonable part of it. This is a wicked game being played by sociopaths to whom destruction gives both profit and great pleasure. If all the business matters in the shares of the business in gold into which you have invested are working out properly, simply stop quoting it for a few days. If your gold is fully paid for simply stop quoting it. Have my courage which I freely offer you by knowing that we are absolutely correct in markets made by devils that are bullies whose occupation is theft.
The gold banks are not stupid but they are a form of Wile E. Coyote. True liquidation is not what you are watching. You are watching a game that you have the power not to allow [them] to win. You have to have courage, and I offer you my absolute conviction of the correctness of being long gold and long good gold shares, long silver and long silver shares at this time. This is war, and you are in the middle of it. Do not let the bastards drive you nuts. They count on you having no ability to stand their well practiced performance. Stand firm and stay the course. Now that the gold banks have us surrounded we will not allow them [to] have their way with us. They will not get away…. Please ladies and gentlemen, prepare to defend yourself by not giving in to the purposes of the devils we oppose. It is that easy. They are truly devils. They have not one redeeming human quality…. You can do this. You can defend yourself. You need only do nothing, and not allow the enemy to play with your head as they play the price. This is war. Please stand your position…[which] will, in a real sense, give them the high sign, the high one. We will win, I promise you. Sincerely, Jim
*http://www.jsmineset.com/2013/01/25/defend-yourself-by-not-giving-in-day-2/
Related Articles: 1. A Plea From Jim Sinclair: You Are Being Played – Do NOT Give Up Your Gold! The paper gold market is being used to shake the bullish tree harder this time than any time before because of what is to come. Fear is the most powerful emotion in markets and it is being used perfectly to enrich the grand names of finance at your expense. We are right in front of that time when the market performs a classic bottom both in shares and physical. From this point gold is going to and through $3500 [so] if you are unable to buy at this time there is one thing you can do – to get into the fight and out of the stands. That act is do nothing, and do not capitulate. Let them play the price game, but give them nothing whatsoever of yours. Words: 758 2. Gold Projected to Reach $4,000/ozt. Sometime Between Late 2015 & Mid 2017! Here's My Rationale
We now have a really strong probability that the correction which started at $1913 on 23 August 2011 has been completed both in terms of Elliott waves and also in terms of time elapsed. If this is correct, the gold price should soon be expressing itself in violent upside action as it moves into the third of third wave which is still targeted to reach $4,500. [Let me explain in detail (with charts) how and why my most recent analyses confirm my earlier target of $4,500.] Words: 1085 4. New Analysis Suggests a Parabolic Rise in Price of Gold to $4,380/ozt.
6. Goldrunner: Price Target of $10,000 to $12,000 for Gold Still Holds
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| Gold Seeker Weekly Wrap-Up: Gold and Silver Fall About 2% on the Week Posted: 25 Jan 2013 03:07 PM PST Gold climbed $4.47 to $1672.17 in Asia before it fell back to $1656.14 at about 10AM EST, but it then bounced back higher in the last 6 hours of trade and ended with a loss of just 0.53%. Silver saw a gain of $0.11 at $31.77 in Asia, but it then slipped to as low as $31.11 in New York and ended with a loss of 1.45%. |
| Three charts ensure gold's continued ascent, von Greyerz tells King World News Posted: 25 Jan 2013 02:59 PM PST 4:55p ET Friday, January 25, 2013 Dear Friend of GATA and Gold: Interviewed today by King World News, Swiss gold fund manager Egon von Greyerz produces three charts he construes to ensure gold's continued ascent. "Looking at gold and silver," von Greyerz says, "we are seeing another small pullback as both of these metals prepare to launch. So the manipulation short-term continues. But the continued rise of both of these metals is inevitable. Everyone who deals in the physical market sees strong demand whether it's in coins or bars." An excerpt from von Greyerz's interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/1/25_3_... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT How to profit in the new year with silver -- Future Money Trends is offering a special 16-page silver report with our forecast for 2013 that includes profiles of nine companies and technical analysis of their stock performance. Six of the companies have market capitalizations of less than $800 million and one company has a market cap of only $30 million. The most exciting of these companies will begin production in a few weeks and has a market cap of just $150 million. Half of all proceeds from the sale of this report will be donated to the Gold Anti-Trust Action Committee to support its efforts exposing manipulation and fraud in the gold and silver markets. To learn about this report, please visit: http://www.futuremoneytrends.com/index.php?option=com_content&id=376&tmp... Join GATA here: California 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 GoldMoney adds Singapore vaulting option In addition to its precious metals storage facilities in Hong Kong, Switzerland, Toronto, and the United Kingdom, now with GoldMoney you can store gold and silver in Singapore in a high-security vault operated by Brink's Singapore Pte Limited. To celebrate the launch of this storage option, GoldMoney is offering a discount on buy and exchange fees at this vault for any orders above US$10,000 (or the equivalent) until January 31, 2013. Tthe gold buy rate is 0.98%, while the silver rate is 1.99%. Metal exchanges into Brink's Singapore will also be discounted for this period and will be charged at 0.78% for gold and 1.75% for silver. Simply place your order online and the above rates apply automatically until January 31, 2013, 15.00 UK time. To find out more about the new vault, please visit: http://www.goldmoney.com/singapore?gmrefcode=gata GoldMoney customers can take delivery of any number of gold, silver, platinum, and palladium bars from any GoldMoney vault, as well as personally collect their bars stored in the Hong Kong, Switzerland, and U.K. vaults. It's easy to open an account, add funds, and liquidate your investment. For more information, visit: http://www.goldmoney.com/?gmrefcode=gata |
| Jim Sinclair: Gold is the ultimate battle between good and evil Posted: 25 Jan 2013 02:51 PM PST 4:50p ET Friday, January 25, 2013 Dear Friend of GATA and Gold: Jim Sinclair today offers his most stirring and eloquent call to gold investors to have the courage of their convictions and to stand firm against the market riggers and tape painters. If gold investors do stand firm, Sinclair writes, they will win. "Gold," Sinclair writes, "is the ultimate battle between good and evil. It is the ultimate battle between deficits and surpluses. Gold is the battle between paper currency backed by nothing and guaranteed by nothing versus sound money. This period of the market is the deciding battle of the Mahabharata. This period, today, is an attempt to drive you out of your wits, which is in my opinion the last and largest attack you will see perpetrated on us before gold closes over $3,500. This period of pain will not be measured in months, but counted in history as days." Sinclair's commentary is headlined "Defend Yourself by Not Giving in, Day 2" and it's posted at JSMineSet here: http://www.jsmineset.com/2013/01/25/defend-yourself-by-not-giving-in-day... 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: California 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/. |
| Gold & Silver Cycle Charts Look Constructive Posted: 25 Jan 2013 02:22 PM PST Although no price appreciation since writing the weekend report, the Gold Cycle nevertheless is constructive. We've seen a 14 day streak that has quietly and patiently added 4.3% since the last Cycle Low. The fact that gold has generally ascended (while dips bought) for 14 days has almost ensured that our Cycle phasing as a 1st Daily Cycle is correct. This is important; the first step is to understand which Cycle we're in. But gold continues to do a wonderful job of confusing investors while keeping sentiment subdued. The lack of a surge out of deep lows has kept many lightly exposed and believing that a new decline is directly ahead. I'm also afraid those who are faithlessly invested here might be shaken out by what should be an imminent and minor 2-3 session drop into a Half Cycle Low. So if we remain committed to the 1st Daily Cycle framework, then we must be ready to accept a minor Half Cycle decline on the way up to a much larger 1st Daily Cycle top. These 1st Daily Cycle average a full 28 trading days, so there is plenty of time and no reason to expect a significant move above $1,700 will not unfold. If Silver is any indication of the coming strength, then we're in good hands. The action out of Silver is showing extreme strength, the type of move that 1st Daily Cycles are known for. Whenever Silver makes a bullish move, it quickly finds the top of the Bollinger Band and rides it all the way to a Cycle top. Seeing this type of development here is encouraging, you want to see Silver leading the pack. This move has been deliberately strong while not overly exuberant. We're not seeing the extreme moves that land Silver outside of the Bollinger Bands that often mark the end of a premature run. But as gold is in need of a Half Cycle Low and Silver extended in the short term, I expect that Silver's powerful 8 session winning streak will need to take a breather. A quick move back to the $31.50 level over 3 sessions would be more than enough of a "re-charge" before Silver sets off into the 2nd half of the Cycle. But the miners continue to cast a grey cloud over the gold Cycle. Maybe this weakness is helping to mask sentiment; it could be what is helping gold/silver rally here. Whatever the reason for the extreme negative sentiment and technical weakness, lets again hope it's not a leading indicator for the gold Cycle. The best hope for the miners is that they're forming a 3-4 month rounded bottoming pattern while gold begins the process of moving up in a new Investor Cycle. I have noted before that the miners have appeared to bottom and look to be in the process of forming a solid base or foundation. If this were true, then we should expect to see a little more weakness followed by the beginnings of a long, powerful, and sustained rally. But the threat is that the rounded bottoming pattern gives way and followed by a test of the Dec lows ($43.70 area). Failure to hold that level should open the gates for a swift 10% drop back to the $40 level.
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| Now You, Too, Can Predict When China Will Overtake America Using This Cool Interactive Tool Posted: 25 Jan 2013 02:21 PM PST [B][B][B][B][B][COLOR=#0000ff][U]Register [/B][/B][/B][/B][/B][/U]to [B][B][B][B][B]"Follow the [U]munKNEE"[/U][/B][/B][/B][/B][/B] [/COLOR]and automatically receive all articles posted America’s GDP is still roughly twice as big as China’s (using market exchange rates). To predict when the gap might be closed, The Economist has updated its interactive chart below with the latest GDP numbers. This* allows you to plug in your own assumptions about real GDP growth in China and America, inflation rates and the yuan’s exchange rate against*the dollar. [Plugging in our assumptive] numbers China will overtake America in 2018.*[Share your prediction in the "Comments" section at the bottom of the page.] So say edited excerpts from an*article written by The Economist Online. [INDENT]This article is presented compliments of [B][COLOR=#ff0000]www.FinancialArticleSummariesToday.com [/COLOR](A site for sore eyes and inquisitive minds) and [COLOR=#ff0000]www.munKNEE.com [/COLOR]... |
| A Plea From Jim Sinclair: You Are Being Played ? Do NOT Give Up Your Gold! Posted: 25 Jan 2013 02:21 PM PST [B][B][B][B][B][B][B][B][B][B][B]"[B]Follow the [COLOR=#0000ff][U]munKNEE"[/U][/COLOR] [/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B]via twitter &[B][B][B][B][B][B][B][B][B][B][B][B][B][B][B][B][B] Facebook [/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B]or [B][B][B][B][B][B][B][B][B][B][B][B][B][B][B][B][B]Register [/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B][/B]to receive our daily Intelligence Report The paper gold market is being used to shake the bullish tree harder this time than any time before because of what is to come.* Fear is the most powerful emotion in markets and it is being used perfectly to enrich the grand names of finance at your expense. We are right in front of that time when the market performs a classic bottom both in shares and physical. From this point gold is going to and through $3500 [so] if you are unable to buy at this time there is one thing you can do -*to get into the fight and out of the stands. That act is do... |
| Gold Daily and Silver Weekly Charts - No Need for Safety Buy Stocks Posted: 25 Jan 2013 02:15 PM PST  This posting includes an audio/video/photo media file: Download Now |
| Posted: 25 Jan 2013 02:08 PM PST A close above 1500, and the last time the S&P 500 managed 8 close-to-close gains in a row was November 2004 (with the 9th higher close marking the end of the run that time). The rise of the Dow Industrials is the best January since 1994 - which saw a rather painful 10% decline in Febuary. Today saw bonds monkey-hammered to catch up (yields) to equity's strength on the week. FX markets saw more JPY weakness (-1% on the week) as EUR strength from this morning's LTRO news followed on - dragging the USD down 0.3% on the week. Commodities were mixed with Oil unch on the week, Copper down (but global growth?), and Gold and Silver slammed on what looks like AAPL collateral calls. AAPL spent the day wiggling up to VWAP and getting dumped to new 52-week lows unable to get any bid and once again we saw VIX totally ignoring the equity exuberance. Builders outperformed (+3.2%), Tech underperformed (-0.4%), as trade-size and volume were relatively low. The close with AAPL smashing lower on huge volume and ES ripping to new highs confirms the pairs-trade unwind we have been banging on about. Best January for the Dow in 19 years...but the follow-through was not so fun...
Leaving US equities the winner across broad asset-classes from the 12/28 pre-fiscal-cliff decision... USD and Gold practically unch and Silver just losing its winning spot...
AAPL was smashed into the close...
AAPL's last three minutes saw 2.2mm shares (and 133k contracts in ES) as the bulk of the trade was done at $439.90...
S&P 500 futures waivered around VWAP once again - as once again we see the trend from the US open to European close revert as POMO finished... and the late-day smash higher in ES is simply the antithesis of the AAPL sell-off as the dominance of the long-AAPL, short-ES pair is unwound en masse...
Perhaps a little clearer here...
VIX remains notably disconnected from stocks since before the AAPL earnings news...
Today's move in Treasuries was a total collapse catch-up (in yields) to equity strength on the week...
The JPY has lost 3.4% in 2 days against the USD - quite an impressive swing relatively. EUR rallied on bigger LTRO repayment this morning which given its weight dragged the USD lower and provided some early juice for risk assets...
Even though the USD only lost 0.3% on the week, Copper doubled that loss (as opposed to relatively strengthening) and Gold and Silver were slammed...
As a reminder - things are diverging!!!! US Macro just turned negative - its worst level in five months...
Charts: Bloomberg and Capital Context |
| Royal Canadian Mint Starts Rationing Silver Coins, January 25, 2013 – YouTube Posted: 25 Jan 2013 02:00 PM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]]  |
| Defend Yourself By Not Giving In – Day 2 Posted: 25 Jan 2013 02:00 PM PST My Dear Friends, Take this challenge a day at a time. The fundamentals of gold's price and currency wars underwrite not only a recovery in the gold price, but a move to new highs from the base to be set soon. You have a weapon that has ultimate power to frustrate the price manipulation. Continue reading Defend Yourself By Not Giving In – Day 2 |
| A Plea From Jim Sinclair: You Are Being Played – Do NOT Give Up Your Gold! Posted: 25 Jan 2013 01:48 PM PST "Follow the munKNEE" via twitter & Facebook or Register to receive our daily Intelligence Report The paper gold market is being used to shake the bullish tree harder this So writes Jim Sinclair (www.jsmineset.com) in edited excerpts from his original letter/article* entitled Defend Yourself By Not Giving In.
Edited excerpts from Sinclair's letter read as follows: My Dear Extended Family,
How many times have you seen this not to recognize what it is? Well, this is the big one and last play to denude you of your position. Remember, for every seller there is a buyer. Has not every reaction in gold since $248 attempted to do just that? This big one is no different. Fundamentally, we are approaching the period in gold when it will move up the most points in the shortest period of time. The paper gold market is being used to shake the bullish tree harder this time than any time before because of what is to come. Fear is the most powerful emotion in markets and it is being used perfectly to enrich the grand names of finance at your expense. Remember how you felt during the first reaction above $1000? This is nothing different. The take downs are planned for times when the market is least liquid either inter day or inter market. This is not liquidation, it is price movement only. I used to do this for a living. I don't "think" [this is the case], but rather, I "know" [it is]. Clearly the gold banks will try to get gold into a capitulation point. Hear me: We are right in front of that time when the market performs a classic bottom both in shares and physical. From this point gold is going to and through $3500. That is why what happened today is happening in the first place. Please, if you are unable to buy at this time there is one thing you can do….to get into the fight and out of the stands [and] that act is do nothing, and do not capitulate. Let them play the price game, but give them nothing whatsoever of yours. You can exhaust the downside manipulation by not letting it work in the classical terms. You can get into the scrap and not just be on sidelines by calling their bluff no matter how much temporary pain needs to be confronted. We are more powerful than even you know. We have what they want, and we can simply say, NO!… Please do not be duped by the giant bastards playing you. Every day that passes is one day closer to the day manipulators change sides to long, just like they did in the 1970s…. Please let them play their numbers game but do not give them one ounce of your gold or one share of your gold companies for whom all things are progressing well. Soon you will know that you beat them at their own game for the first time. You can be proactive by simply having courage of your and my convictions, therefore not giving them any of your product. There will be great satisfaction when you face down the bully who is basically full of it. This is our last battle before victory. I will be there and I want you to be also. Let them play their price game but do not give them product. Stand tall and stare the bully down. He will flee as this is the last thing he expects. Please have my courage by knowing that we are absolutely correct in markets made by devils that are bullies whose occupation is theft. Gold is the ultimate battle between good and evil. This period of the market is the deciding period of the Mahabharata. This is war and you are in the middle of it. Please stand firm and stay the course. Now that the gold banks have us surrounded they cannot get away…. Please, ladies and gentlemen, prepare to defend yourself by not giving in to the purposes of the devils we oppose. We will win, I promise you. Sincerely, Jim
*http://www.jsmineset.com/2013/01/24/defend-yourself-by-not-giving-in/
Related Articles: 1. Gold Projected to Reach $4,000/ozt. Sometime Between Late 2015 & Mid 2017! Here's My Rationale I am not predicting a future price of gold or the date that gold will trade at $4,000, but I am making a projection based on rational analysis that indicates a likely time period for gold to trade at $4,000 per troy ounce. Yes, $4,000 gold is completely plausible if you assume the following: 2. Alf Field: Gold STILL Targeted to Reach $4,500 – Preceded By Violent Upside Action We now have a really strong probability that the correction which started at $1913 on 23 August 2011 has been completed both in terms of Elliott waves and also in terms of time elapsed. If this is correct, the gold price should soon be expressing itself in violent upside action as it moves into the third of third wave which is still targeted to reach $4,500. [Let me explain in detail (with charts) how and why my most recent analyses confirm my earlier target of $4,500.] Words: 1085 3. New Analysis Suggests a Parabolic Rise in Price of Gold to $4,380/ozt.
5. Goldrunner: Price Target of $10,000 to $12,000 for Gold Still Holds
6. Nick Barisheff: $10,000 Gold is Coming! Here's Why
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| Gold and Silver Disaggregated COT Report (DCOT) for January 25 Posted: 25 Jan 2013 01:40 PM PST HOUSTON -- This week's Commodity Futures Trading Commission (CFTC) disaggregated commitments of traders (DCOT) report was released at 15:30 ET Friday. Our recap of the changes in weekly positioning by the disaggregated trader classes, as compiled by the CFTC, is just below. (DCOT Table for January 25, 2013, for data as of the close on Tuesday, January 22. Source CFTC for COT data, Cash Market for gold and silver.) More... In the DCOT table above a net short position shows as a negative figure in red. A net long position shows in black. In the Change column, a negative number indicates either an increase to an existing net short position or a reduction of a net long position. A black figure in the Change column indicates an increase to an existing long position or a reduction of an existing net short position. The way to think of it is that black figures in the Change column are traders getting "longer" and red figures are traders getting less long or shorter. All of the trader's positions are calculated net of spreading contracts as of the Tuesday disaggregated COT report. |
| COT Gold, Silver and US Dollar Index Report - January 25, 2013 Posted: 25 Jan 2013 01:32 PM PST COT Gold, Silver and US Dollar Index Report - January 25, 2013 |
| Posted: 25 Jan 2013 12:55 PM PST Selling in Paper Market Attracts Physical Gold Buyers
Just today, it was reported that new home sales plunged 7.3% in December, well below market expectations. With the latest data confirming that this has been the slowest recovery from a recession ever, it seems the latest euphoria might be a little overrated. And then there is the monstrous $16.48 trillion debt overhang, that threatens to crush any nascent recovery before it has a chance to build any momentum.
Congress chose to punt on the debt this week, suspending the debt ceiling until May. As you can see from the above capture, we've already breached the statutory debt ceiling by more than $54 billion. This game of kick the can has become all to common place, as it's just far too easy to forestall real and meaningful fiscal reforms until some as yet undetermined date in the future. In the meantime, the Fed will be obliged to persist with their über-accommodative policy stance, for the worst thing than can happen to a country whose debt is greater than their GDP is to have interest rates go up. Any notion that the Fed is going to start removing stimulus because the economy is suddenly showing a heartbeat is unfounded. The Fed has been quite adamant of late; even an improving economy is not going to warrant tighter policy. Of course the Fed is not alone. Pretty much every major central bank is engaged in zero or near-zero interest rate policy and other forms of accommodations. Most notably this week, the BoJ succumbed to intense political pressure from the new political leader of Japan, doubling their inflation target to 2% and pledging what amounts to unlimited asset purchases as a means to attain that goal. Even The Bank of Canada backtracked on their recent tighter policy bias, saying this week that a rate hike is "less imminent" due largely to benign inflation and indications that the economy is slowing. That was confirmed in part today by a weaker than expected December CPI print of -0.6%. Shaun Osborne, chief currency strategist at Toronto-Dominion Bank was quoted in a Bloomberg article as saying, "Given that we're an inflation- targeting central bank, there's very little reason to be looking to push rates up. It kind of suggests, as they indicated, low for longer is the trend." Indeed, inflation targeting is all the rage these days, but in trying to push prices higher domestically, the major central banks are simultaneously trying to devalue their currencies to push the price of their exports lower on the global market. This is the essence of a currency war, where each country attempts to devalue their fiat currency relative to the others in beggar-thy-neighbor fashion. Not surprisingly, competitive currency devaluation has been a hot topic this week at the World Economic Forum in Davos, spawning a large number of news stories on the subject. The intensifying threat of a global currency war has actually heightened interest in physical gold as it is truly the only international currency that can't be devalued by printing more. In fact, most of the selling in gold has been attributed to paper representations of gold such as ETFs and ETPs. Physical interest on the other hand "is still very sound," according to one analyst in a Bloomberg piece this morning. We've seen this play out many many times over the years: Selling in the paper market is met by strong physical interest. These lower prices are a gift from the paper market to those of you who prefer the real thing. Accept it. |
| Timmins Gold CEO notes the paper gold fraud Posted: 25 Jan 2013 12:50 PM PST 2:44p ET Friday, January 25, 2013 Dear Friend of GATA and Gold: In an interview with Tekoa Da Silva of Bull Market Thinking, Timmins Gold CEO Bruce Bragagnolo sounds like an applicant for a GATA tin-foil hat. "Gold lends itself to the physical market," Bragagnolo says. "A lot of the exchange-traded funds are simply options on gold and I think there has to be some catalyst here that will drive up the price of gold. The catalyst may come in the form of some ETF defaulting, not having the physical gold in their accounts, and not being able to option their way out of it. ... "The nice thing about the gold market is that you have to have the physical gold to back it up. If you don't have it, then you've got a problem. There's so much paper gold in circulation that they couldn't possibly cover all these pieces of paper. ... So there could be a short squeeze at some point in gold that would drive up its price." The interview with Bragagnolo is posted at Bull Market Thinking here: http://bullmarketthinking.com/mining-executive-bruce-bragagnolo-gold-wil... 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: California 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/. |
| Gold Update: A Resistance Area To Watch Posted: 25 Jan 2013 12:19 PM PST A few weeks ago, we mentioned that Elliott wave analysis suggested that gold was trying to bounce from the 1628 area. So far, that scenario has played out nicely. Now we're watching the upper edge of a potential channel to see whether ... Read More...  |
| Michael Pento: Here's My Biggest Fear & This Is What's Hammering Down The Price Of Gold Today Posted: 25 Jan 2013 12:18 PM PST Michael Pento, president and founder of Pento Portfolio Strategies was kind enough to take my call on a day when gold, silver, and mining shares are completely falling apart.
"When in the history of investing, " Michael continued, "have you ever had the entire developed world's central bankers, increasing in unison, inflation targets? These balance sheets are growing tremendously fast, their economies are not healing, real interest rates are profoundly negative…Everyday that goes by it's further cemented in my mind how you must reject these fiat currencies, and seek another form of money that the government cannot corrupt. And that's precious metals." When asked his biggest fear in the marketplace at this time, Michael concluded with, "My biggest fear right now, as far as what could totally derail the economies of the globe…is the bursting of the credit bubble…it could be central bank induced. Central bankers could come out and say we're no longer going to monetize debt, we're no longer going to allow these governments to run these 10% per annum deficits, and you would see a massive spike in interest rates overnight that would crumble the economies of the developed world into a deflationary depression…that's my biggest fear." To listen to the interview, left click the following link and/or right click and "save target as" or "save link as" to your desktop: >>Interview with Michael Pento (MP3)To learn more about Michael Pento and his porfolio advisory services, visit: PentoPort.com Additionally, be sure to check out today's interview with Peter Grandich, publisher of The Grandich Letter. Enjoy the interview? Please support the site by sharing this URL page link with friends, family, and your favorite chat forum. Thanks, This posting includes an audio/video/photo media file: Download Now |
| Jim Sinclair: Defend yourself by not giving in Posted: 25 Jan 2013 12:14 PM PST 2:13p ET Friday, January 25, 2013 Dear Friend of GATA and Gold: Jim Sinclair, mentor and hand holder in chief to the gold universe, this week appeals to gold investors not to be intimidated by what is only the usual market manipulation by bullion banks. "How many times have you seen this not to recognize what it is?," Sinclair writes. "Well, this is the big one and last play to denude you of your position. ... Fundamentally we are approaching the period in gold when it will move up the most points in the shortest time. The paper gold market is being used to shake the bullish tree harder this time than any time before because of what is to come. Fear is the most powerful emotion in markets and it is being used perfectly to enrich the grand names of finance at your expense." Sinclair's commentary is headlined "Defend Yourself by Not Giving In" and it's posted at JSMineSet.com here: http://www.jsmineset.com/2013/01/24/defend-yourself-by-not-giving-in/ 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: California 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 |
| Reinstatement sought for silver market rigging class-action lawsuit Posted: 25 Jan 2013 12:09 PM PST The plaintiffs in the silver market rigging class-action lawsuit against JPMorganChase, tentatively dismissed a month ago by Judge Robert P. Patterson Jr. in U.S. District Court in New York -- this week refiled their complaint with what they hope will be additional specifics sufficient to persuade the judge to reinstate the suit. |
Today Egon von Greyerz sent King World News exclusively 3 incredibly important charts for battered gold and silver bulls. This is an extraordinary interview and sequence of charts that all KWN readers globally must see. Here is what Greyerz, who is founder of Matterhorn Asset Management in Switzerland, had this to say in this exclusive interview: "Eric, last week we talked about all of the storms on the horizon. Now we see that currency war discussions have broken out again. Abe, the Japanese Prime Minister, is doing everything he can to suppress the value of the yen, and therefore he's going to have Japan print unlimited amounts of money.
The closing of the gold window back in August 1971 has led governments worldwide to create endless amounts of worthless paper money and the resulting credit bubble has created a world debt exposure of over US$ 1 quadrillion (including derivatives). It has also created perceived wealth for big parts of the world's population – a wealth which is only backed by promises to pay and by grossly inflated assets. Few people realise that this wealth is totally illusory and will implode considerably faster than the time it took to create it. [Let me explain.] Words: 890
In explaining today's take-down in the metals, Michael said, "Listen to all the talk you hear about austerity in Washington. What happens to the price of gold when you hear this? It goes down…You hear talk about austerity, and you hear talk now because of the jobless claims, that the fed might stop [monetizing], and gold gets crushed…The idea that Bernanke is going to start increasing interest rates, and start to shrink his balance sheet is ludicrous, and I believe that this is just another false worry for the gold market." | You are subscribed to email updates from Save Your ASSets First To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
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