Gold World News Flash |
- Cramer: Salesforce Wants New Shareholders – YouTube
- Bernanke to Oprah: “I’ve Been Doping for Years” – YouTube
- Fed To Create Gold Rally & Bond Plunge Next Week
- One Small Step Toward Executive Order 6102 Part 2
- Silver Slave Queen Unboxing – Keep Calm And Slave On.
- David Morgan ~ 2013 will be a “Good” year in the SILVER Market – YouTube
- Silver Edition: Prices, Bullion, ETFs, Supply & Demand ▸ Commodities Confidential w/ CPM Group – YouTube
- Bullish Medium-term Implications for Precious Metals from the U.S. Dollar
- No Time Like The Present To BUY PHYSICAL SILVER
- Past & Future Speculative Bubbles – What They Indicate for Gold and Silver!
- Embry - Powerful Entity Now Battling The Silver Manipulators
- The Case of Shaking Gold Out of The Physical Market—To Fill Germany’s Repatriation Order
- Robert Blumen debunks gold supply & demand misconceptions – YouTube
- Commodity Technical Analysis: Gold Testing Fibonacci Support
- Bernanke To Oprah: "I've Been Doping for Years"
- Connecting the Dots
- 8 Signs You’re Addicted to Gambling and 5 Tips to Stop – YouTube
- HSBC Purchases $876 Million Worth of Silver – YouTube
- Capital Gold Group Customer Testimonial Offer – YouTube
- Guest Post: Soaring Debt Precedes Financial Crises...
- HLF Data -&- FX Confusion
- The Gold Price Fell a Little Along with Stocks Gold Closed at $1,652.90
- Gold and Silver
- Past and Future Speculative Bubbles - What They Indicate for Gold and Silver!
- Two Chess Moves Away from Capital Controls
- Strong hands challenging silver suppression, Embry tells King World News
- Gold Seeker Closing Report: Gold and Silver Fall Slightly
- The Responsibility That Comes With Experience
- Gold Daily and Silver Weekly Charts - Comex Option Expiration - Kitco Lease Charts Wrong
- Gold holdings at Bank of England called into question
- Are The Currency Wars For Real?
- Bubbles In The Past & Future – What It Means For Gold & Silver
- IT'S GOOD TO WORK FOR THE GOVERNMENT
- The World According to Doug Casey
- Debt ceiling's suspension means hyperinflation, Turk tells King World News
- Jeff Thomas: The disappearing gold
| Cramer: Salesforce Wants New Shareholders – YouTube Posted: 29 Jan 2013 01:02 AM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]]  |
| Bernanke to Oprah: “I’ve Been Doping for Years” – YouTube Posted: 29 Jan 2013 12:57 AM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]]  |
| Fed To Create Gold Rally & Bond Plunge Next Week Posted: 28 Jan 2013 10:01 PM PST  With continued volatility in gold and silver, today Michael Pento has written exclusively for King World News and he is predicting a rally in gold next week. Here is Pento's tremendous piece: "The recent spate of better data on initial jobless claims has caused bond yields to rise, stock prices to rally, and gold shares to tumble in the last few days. For the sixth time since 2010, an oasis of improving economic data (that has proven to be ephemeral each time in the past) is once again giving investors the false signal of a robust and sustainable recovery." This posting includes an audio/video/photo media file: Download Now |
| One Small Step Toward Executive Order 6102 Part 2 Posted: 28 Jan 2013 09:20 PM PST from Silver Vigilante:
Remember when Over the Counter gold and silver transactions were banned and everyone made a fuss thinking they'd be unable to purchase physical? It happened over the Summer of 2011, just before gold skyrocketed to nearly $2,000 an ounce. And so, here we have the CFTC using new regulation to interfere with a free market. What I am curious in is how were these companies marketing these products to the customers? If they were well-aware of the structure, then the CFTC is being meddlesome here, as so many of us know. The interpretation of this law, on behalf of the CFTC's action, stems from Section 742(a) of the Dodd-Frank act which "prohibits any person [which again includes companies]from entering into, or offering to enter into, a transaction in any commodity with a person that is not an eligible contract participant or an eligible commercial entity, on a leveraged or margined basis." The language of the ruling exempts a transaction if it results in actual delivery within 28 days or such other longer period as the Commission may determine by rule or regulation based upon the typical commercial practice in cash or spot markets for the commodity involved;" |
| Silver Slave Queen Unboxing – Keep Calm And Slave On. Posted: 28 Jan 2013 09:05 PM PST [Ed. Note: You can get your own Slave Queen right now, HERE.] from SilverMonsterBalls: Silver Slave Queen – Keep Calm And Slave On. This is without doubt, one of my Favorite Silver Rounds ever produced anywhere,….anytime. Hats off and Thumbs up to the idea and ceator of this work of ART. |
| David Morgan ~ 2013 will be a “Good” year in the SILVER Market – YouTube Posted: 28 Jan 2013 08:59 PM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]]  |
| Posted: 28 Jan 2013 08:54 PM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]]  |
| Bullish Medium-term Implications for Precious Metals from the U.S. Dollar Posted: 28 Jan 2013 08:40 PM PST by Przemyslaw Radomski, Gold Seek:
But there were exceptions, such as the rally at the beginning of January, sparked by a plunge in dollar. These exceptions are a good sign – a sign that correlations are returning to what we are used to, i.e. negative correlation between precious metals and dollar and positive one between stocks and precious metals. Maybe a strong signal from the market is what is needed to push correlations back to normalcy. For now, let's take a look where will the pressure from the currency markets be and in which way gold, silver, and mining stocks will likely move eventually. |
| No Time Like The Present To BUY PHYSICAL SILVER Posted: 28 Jan 2013 08:29 PM PST I added to my physical Silver holdings this morning, did you? I purchased Silver this morning at 30.77 spot, did you? With options expiration today in the February COMEX Gold futures, and Silver hovering above its 200 Day moving average at 30.60, it was an easy call if you believe in the upside for the price of Silver. Today just may have been the last chance to purchase Silver below $31 an ounce ever again...but then in this rigged game, who can be sure about anything relative to price. A monthly chart of Silver just might help convince you that NOW is the time to be accumulating more physical Silver before this train leaves the station once again. Please click on the chart below to enlarge:  If a picture is worth a thousand words, this MONTHLY chart of Silver worth 1000 ounces! As you can see on the chart, Silver is presently coiling into the apex of a Symmetrical Triangle: Considering the existing uptrend in Silver since 2003, it should be considered highly likely that this Symmetrical Triangle marks a consolidation period in the price of Silver before it breaks higher. Frustrating as it has been to watch Silver drift sideways in a $10 trading range for the past 15 months, a break towards new highs may be only weeks away now. As you can see on the chart, Silver has been capped at $35 since September of 2011. This cap is believed to be courtesy of the Evil Empire housed at JP Morgan. I submit that whatever their involvement in the suppression of the price of Silver, it is difficult to argue that the 38% retracement of the fall in Silver from the May 2011 peak to the August 2011 low has also played a significant "technical" role in this cap on the price of Silver at $35 an ounce. I submit to you now that a break of the topside trendline of this Symmetrical Triangle will trigger a break of the cap at $35, and subsequently result in a very swift and powerful move higher in the price of Silver over the ensuing months. A break of this trendline and cap projects a move higher in Silver by up to $30 an ounce. That's $65 an ounce people. I consider it highly unlikely that even the "Criminals of the CRIMEX" can take Silver much lower from where we are now. If you have been waiting to add to your Physical Silver holdings, or are looking to establish a position in the "Best Investment Of Our Generation", there may be no better time than the present. BUY PHYSICAL!!!  kingworldnews.com / January 26, 2013 There has been a great deal of propaganda from the Fed and mainstream media claiming that the world is on the road to recovery. Today one of the wealthiest and most street-smart pros in the business spoke with King World News about the reality of what is really taking place, the gold and silver smash, and where markets are headed from here. Rick Rule, who is the CEO of Sprott USA, said, "We are in the midst of a commodities super cycle of the same dimension we experienced in the 1970s." The 1970s was an extremely difficult period, and it eventually culminated in a flight from fiat currencies into gold as the world experienced a period of tremendous turmoil. Here is what Rick Rule had to say: "We are in the midst of a commodities super cycle of the same dimension we experienced in the 1970s … By the way, I don't disagree that there are attempts being made to suppress the price of gold, but the market is bigger than the morons who are trying to suppress it. As far as I'm concerned, the harder they try to suppress it, the bigger the ultimate move will be. At some point in time rational people, people who can add and subtract, are going to say, 'Would I rather have my wealth held in the form of a floating abstraction, like a euro, yen, or US dollar? Or would I rather have an asset that is not simultaneously somebody else's responsibility? Something that can't be printed and counterfeited.' My suspicion is that over time, more people will become comfortable with gold than they are with fiat currencies … The Chinese government isn't trying to suppress the price of gold. It's encouraging Chinese individuals to own gold…. ___________________________ An Inside Look at the Rapidly Escalating Physical Silver Shortage Silver Doctors  On Thursday, we alerted readers to the fact that the US Mint had sold out of Silver Eagles, selling over 6 million ounces over the first 9 days of sales in 2013, and was shutting down sales and production of Silver Eagles through at least 1/28, and would ration sales of eagles upon resumption of sales. With a rapidly growing presence in the retail gold and silver market via SDBullion, we have had a unique perspective of the escalating physical silver shortage, and would like to give our readers an inside glimpse of the time-line of events evidencing a growing shortage of physical silver. Full time-line of the developing silver shortage from a wholesale perspective is below: Silver Shortage Time-Line:
With the US Mint not scheduled to begin resumption of ASE sales for another 8 days, at which point it will begin sales with rationing/ allocation, expect premiums on Silver Eagles to continue escalating, and expect supplies of alternate forms of physical silver coins and rounds to begin drying up, as investors turn to Silver Maples, Philharmonics, generic rounds, 10 oz and 100 oz bars as alternatives to the skyrocketing premiums Silver Eagles are commanding. With shortages causing panic buying among silver investors, much the way that the recent gun and ammo shortages and threats of gun confiscation have caused massive demand and 2-3 fold increases in prices of guns and lead futures, a similar situation could easily develop quickly in the silver market, particularly with the fact that silver is a Giffen good, and is an extremely small market. _____________________________ Embry - Powerful Entity Now Battling The Silver Manipulators Today John Embry told King World News that a powerful entity is now battling the powers that be in the silver market. Embry, who is Chief Investment Strategist at Sprott Asset Management also spoke about the increase in net-long contracts in the face of the declining silver price, the silver shortage, as well as the gold market. Here is what Embry had to say in this powerful interview: "I'm focused on this vicious takedown of gold and silver that's been ongoing for the last month and a half. I've been following this story for the better part of 15 years and I can honestly say I don't think I've ever seen a more intense, day after day takedown." John Embry continues: "When London opened gold and silver were driven down for about ten consecutive days. The COMEX PM close was lower than the AM opening. This just bespeaks very aggressive manipulation. The question I ask myself is, 'What's bothering them? Why do they feel they have to do this?' I think there are a lot of reasons.... i |
| Past & Future Speculative Bubbles – What They Indicate for Gold and Silver! Posted: 28 Jan 2013 08:22 PM PST from Deviant Investor:
I'll summarize a simple analysis of past bubbles. Definitions: Bubble: A speculative mania in a market that is priced well beyond what the fundamentals and intrinsic value indicate. Phase 1: The first phase of the bubble begins with the price bottoming and initiating a long rally. It is often indicated by a triggering event such as Nixon closing the "gold window" on August 15, 1971 – the beginning of the gold and silver bubbles that terminated in 1980. The market rallies for some years, hits a new "all-time" high, and then corrects. |
| Embry - Powerful Entity Now Battling The Silver Manipulators Posted: 28 Jan 2013 08:18 PM PST Today John Embry told King World News that a powerful entity is now battling the powers that be in the silver market. Embry, who is Chief Investment Strategist at Sprott Asset Management also spoke about the increase in net-long contracts in the face of the declining silver price, the silver shortage, as well as the gold market. Here is what Embry had to say in this powerful interview: “I’m focused on this vicious takedown of gold and silver that’s been ongoing    |
| The Case of Shaking Gold Out of The Physical Market—To Fill Germany’s Repatriation Order Posted: 28 Jan 2013 08:00 PM PST by Tekoa Da Silva, Bull Market Thinking:
Says Gary, "I have to say I have pondered over the bizarre action in gold ever since QE4 for weeks now. I don't buy most of the usual explanations and I'm going to go over why… Right after QE3 Germany starts making noise about repatriating their gold, which then intensifies after the confirmation that Operation Twist will be converted to QE4. |
| Robert Blumen debunks gold supply & demand misconceptions – YouTube Posted: 28 Jan 2013 08:00 PM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]]  |
| Commodity Technical Analysis: Gold Testing Fibonacci Support Posted: 28 Jan 2013 07:10 PM PST courtesy of DailyFX.com January 28, 2013 02:10 PM Daily Bars Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0 Commodity Analysis: The current level, defined by the 61.8% retracement of the rally from the low and 1/4 close (1/4 is important because it was a high range day and high volume day), is critical to the next move in gold. Strength above Friday’s high would suggest that a low is in place. Commodity Trading Strategy: Flat LEVELS: 1626 1642 1655 1672 1683 1697... |
| Bernanke To Oprah: "I've Been Doping for Years" Posted: 28 Jan 2013 07:03 PM PST Beginning with the "Yes or No" questions only, everyone's favorite talk-show host takes on The Bernank in this earth-shattering interview. While Lance Armstrong managed to keep the dream alive for over a decade as all around him showed point-blank-proof of artificial stimulation, it took Oprah to get the truth from his lips (oh and a USADA threat). It seems The Federal Reserve has been forced to 'fess up in this entertaining interview as Bernanke sits sobbing across from Ms. Winfrey - and comes clean to years of monetary policy artificial stimulation and performance-enhancing economic-doping. Just like Armstrong, Bernanke admits that it is widespread and that this generation of central bankers "all do it" as he notes that "some retard from the FT or NYT will write excruciatingly thoughtful op-eds about how this is actually a good thing." From the raging parties at Club-Fed to "good f##king times" with Alan Greenspan to "telling people to chillax and enjoy the good times" as the housing bubble popped, Bernanke leaves us with these chilling words: "Buy food, guns, and gold, this $hit is about to get real!" Print-strong.
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| Posted: 28 Jan 2013 06:24 PM PST The long and short of things: Historic trends, tarnished silver and perished Apple's are no match for the euro and equities - so far. Read More...  |
| 8 Signs You’re Addicted to Gambling and 5 Tips to Stop – YouTube Posted: 28 Jan 2013 06:08 PM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]]  |
| HSBC Purchases $876 Million Worth of Silver – YouTube Posted: 28 Jan 2013 05:57 PM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]]  |
| Capital Gold Group Customer Testimonial Offer – YouTube Posted: 28 Jan 2013 05:53 PM PST Check our website daily at... [[ This is a content summary only. Visit http://www.figanews.com for full Content ]]  |
| Guest Post: Soaring Debt Precedes Financial Crises... Posted: 28 Jan 2013 05:46 PM PST Submitted by John Aziz of Azizonomics blog, Things don't look so good for China: Will we see a Chinese financial meltdown in 2013? Or 2014? Or 2015? With global GDP growth on a definite trend downward, with such a tepid Western recovery, and with global geopolitical tensions still high, the last thing the global economy needs is a financial crisis at the heart of the BRIC growth engine. But the data implies that that may just be what we get. To those who believe that China is immune to such a thing, recall that America suffered the Great Depression immediately previous to becoming a global superpower. China's economy has undergone a rapid transformation in recent years: Such a transformation is sure to necessitate some dislocation and fallout — just as America's transformation from an agricultural to a manufacturing economy did. America ended that process as the global superpower. It remains to be seen if the same will happen for China, but controlling the world's largest productive industrial base certainly suggests so. The other factor, of course, that presaged America's rise was a global war… |
| Posted: 28 Jan 2013 05:45 PM PST
On HLF and Da Boys
How about that blow up between Ackman and Icahn?!?! Two big shots of finance making asses of themselves, is what I saw.
Icahn was making himself out to be the good guy. His investors making out fine, everything done on a handshake and all that. Carl doesn't tear things down, like the short seller Ackman. Carl builds things up, right?
Ask anyone who was connected to TWA when Carl was running the show. The pilots and the unions lost big. The banks got hit with losses. Investors in TWA bonds got whacked on the head. Widows and orphans lost money on the stock. Carl, on the other hand, did just fine.
There was one thing that Carl said that has to raise an eyebrow. He went on-and-on about a short squeeze in HLF. To me, he was either talking his book, or he was baiting Ackman, and hoping that the market would squeeze Ackman to death.
Let me put an end to the short squeeze story. To be short a stock, one must first borrow the stock. This is easy to do for most listed names. But it becomes a real problem when there is an actual short squeeze occurring. When things get tight, and you want to borrow stock, the answer on the phone is either A) "Sorry XYZ is on the the 'No Borrow' list - call back tomorrow.", or B) "Yeah, I'll lend you the stock - but it'll cost you 3 points a month!"
This afternoon I had an offer of 300k shares of HLF ($12m) to borrow at an annual finance cost of 3.4%. If a lightweight like me can see this on offer, then big guys can borrow at will, and they can do it at even cheaper prices.
I have no idea what will happen with HLF (I have no position), but I will say for sure that there is no short-squeeze in this stock. Icahn was just blowing smoke.
Notes: - The borrow cost is a fee. It is paid daily, but is expressed as an annual rate. The borrow cost of 3.4% for HLF comes to less than 1 cent a day of carry cost. HLF fell $3.50 today, the penny cost was well spent, and certainly is no impediment to playing on the short side. - "3 points a month" = 36%PA (AKA: Usury) = Sure sign that a short squeeze is happening.
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What's Next In FX Land?
At the end of last year I included this in my list of things that would happen in 2013:
A month ago this seemed like a long-shot. Today I'm thinking it's a 50-50 bet. Poor Jack doesn't even have the job as T-Sec as of yet (he has to go through those pesky congressional hearings). While Lew is worrying about those hearings, there is a big problem brewing. And of course, the problem is in FX land, and good old JL knows nothing at all about that.
The fun thing about FX is that it is not predictable. Smart people can talk about important things like fair value, and purchasing power parity, but the reality is those things have nothing to do with short term outcomes. In a three or six month period of time there are only two forces that determine the outcome. On one side of the equation is The Market, on the other side are the Central Banks.
As of today, the FX "equation" for the Yen versus all of the currency crosses is missing the Central Banks. The Bank of Japan WILL NOT intervene to stop the depreciation of the Yen at any time in the foreseeable future. Without the BOJ, the FED and the ECB can't intervene. The only force left is the market, and the market is having a merry time shorting the Yen with reckless abandon. In the process, the market has been making a huge fortune. The short Yen trade has been a free ride to riches.
The FX markets have been very volatile of late. In my experience volatility breeds more volatility - until something blows. I wish I could accurately forecast what the next few months will bring. I'll offer up one possible scenario. Consider this chart of USDYEN and EURYEN:
The chart looks like the Yen has weakened in lockstep with both the Euro and the Dollar. But when you look at the scale, you see that the Yen has lost 22% against the Euro, while it has only given up 13% versus the dollar. From this you might conclude that the logical next step is for the USDYEN to "catch up" to to what has happened with the EURYEN. This thinking takes you in the direction of USDYEN 100. But, the FX markets don't work like that. If USDYEN moved to 100 while the EURYEN remained "stable" around 122, then the EURUSD rate HAS to fall to 1.22 (-9%).
Sorry, that's not in the cards. There is no way that the EURUSD rate can fall like that. Therefore I have to conclude that the EURYEN is going to be dragged to a very high level. A rate of over 130 is possible in this scenario. At that point, things will be in "crisis mode".
In Japan, there is a tremendous push to get the USDYEN rate back to 100. The market is going to do everything it can to facilitate that outcome. The BOJ will do nothing to stop this from happening. The Fed and The ECB are powerless to resist. The USA doesn't even have a T-Sec that can speak to the developing problem. And even if he were confirmed, he knows nothing about the issue at hand. Taken together, this set-up has bad smell to it.
I see the coil spring that is the relationship between the Euro, the Yen and the Dollar getting tighter by the hour. I have every reason to believe it will get tighter still. Somewhere in this story is a hiccup. A big one.
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| The Gold Price Fell a Little Along with Stocks Gold Closed at $1,652.90 Posted: 28 Jan 2013 05:17 PM PST Gold Price Close Today : 1652.90 Change : -3.70 or -0.22% Silver Price Close Today : 30.766 Change : -0.424 or -1.36% Gold Silver Ratio Today : 53.725 Change : 0.612 or 1.15% Silver Gold Ratio Today : 0.01861 Change : -0.000214 or -1.14% Platinum Price Close Today : 1661.20 Change : -32.70 or -1.93% Palladium Price Close Today : 739.80 Change : -0.45 or -0.06% S&P 500 : 1,500.18 Change : -2.78 or -0.18% Dow In GOLD$ : $173.61 Change : $ 7.50 or 4.51% Dow in GOLD oz : 8.399 Change : 0.363 or 4.51% Dow in SILVER oz : 451.21 Change : 5.68 or 1.28% Dow Industrial : 13,881.93 Change : -14.05 or -0.10% US Dollar Index : 79.80 Change : -0.002 or 0.00% Nothing much happened today beyond the foreseeable — Stocks fell, the silver and GOLD PRICE fell a little further, dollar was flat, and the other scabby fiat currencies as well. Friday (25 January) I somehow posted the wrong closes for the Dow and S&P500. Correct closes were Dow 13895.98 (up 70.65) and S&P500 at 1,502.96 (up 8.14). I have no idea how that error crept in. Please forgive me. The GOLD PRICE fell a little further, $3.70, to $1,652.90. Silver lost 42.4 cents to 3075.6. Today gold's range touched the uptrend line from June '12 and the downtrend line from the November 12 high. In fact, it touched them exactly where they crossed. Try to picture a falling wedge in your mind. Gold breaks out of that wedge about 2/3 of the way down, rallies to $1,698, then falls back, but (so far) only for a Kiss Back to the downtrend line it has just broken though upward. Frustrating as this is, it doesn't point to a fall to the earth's core, but rather, another rise. Worst hand raised against that is gold's fall beneath its 200 day moving average on Friday. Needs to fix that quickly. The SILVER PRICE chart looks much the same. However, silver hasn't kissed back all the way to that short term down trend line, and remains above its 200 DMA (3065c), but not by much. About 3045c tomorrow will lie the strong uptrend line from the June '12 low. I was going back over some trades today from 2008 - 2009. I remember buying gold at $858 with my heart in my mouth in December. In May 2009 I was still nervous at 978.50, but bought anyway. And in November 2009, 17.098 silver looked awfully risky, but still I bought. Point is, markets always look risky, and exactly the right time to buy is the time your mind, body, and intestines will scream loudest. And sometimes, they're right. Life comes with no guarantees, unless you are a slave. Stocks dropped, the Dow at 13,881.93 down 14.05 (0.1%) and the S&P500 down 2.78 (0.18%) at 1,500.18. Only 4 or 5 times in the last 10 years have stocks been more highly oversold. They stand at their upper trendline resistance. They've sketched out a massive head and shoulders top that stretches back to 1996, and they've both lately reached the point of rising wedge formations. Sure, maybe they can rise from here -- but don't bet on it. Dollar, yen, and euro were all flat today. US dollar index closed 79.804, basically unchanged from Friday. Euro fell a miniscule 0.07% to $1.3450, while the yen rose 0.07% to 110.17 cents/Y100. These gappy cahrts are hard to read. Euro gapped up on Friday, then traded in almost exactly the same range today, leaving a little isolated island up there. Must fill in that gap or advance sharply or it runs the risk of breaking down. Be certain the world's big central bankers are furious with the Japanese and their competitive devaluation. They don't know much, but they remember the currency wars of the 1930s and would like to avoid them. US$1=Y90.85=E0.7435=0.325139 oz Ag=0.000605 oz Au. I found out something unusual about my new book, At Home in Dogwood Mudhole. People keep writing me that they're reading the book outloud with wife or husband, or reading it to their children. One of my sons has been reading it to his two boys, Gus (6) and Felix (4). Thinking, I reckon, on something he had heard at school, he stopped my son Christian while he was reading and asked, "Dad, were Mama Sue and Big Daddy alive in colonial times?" I didn't know we looked THAT old. Y'all can still get copies of AHIDM at www.dogwoodmudhole.com. 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.  |
| Posted: 28 Jan 2013 04:05 PM PST Gold continues to be weak short-term, still in downtrend since early October, so far lower highs and lower lows, and a trend in motion stays in motion. Read More...  |
| Past and Future Speculative Bubbles - What They Indicate for Gold and Silver! Posted: 28 Jan 2013 03:26 PM PST This is not a prediction of future prices of gold and silver; it is an indication of what could happen in a speculative bubble environment based on the history of previous bubbles. Read More...  |
| Two Chess Moves Away from Capital Controls Posted: 28 Jan 2013 03:13 PM PST Synopsis: Bundesbank's explanation for moving to repatriate some of its gold reserves from the US and France serves as a clarion call for investors to internationalize their holdings. Dear Reader, I'm just back from Vancouver, where Doug Casey, Jeff Clark, Marin Katusa, and I spoke at the 2013 Vancouver Resource Investment Conference. After such an alarming year for so many gold stock owners, it was good to see the show was as large and well attended as ever. I'm not sure we can draw too many conclusions from that fact, but it was encouraging. I met with about two dozen companies and collected a lot of information to mull over, but best of all was meeting some of our readers who've become friends over the years. Thanks for coming down to the show. Another highlight was the metaphor Jeff developed in response to a question about what it means for Germany to be repatriating its physical gold reserves. His answer was so strik... |
| Strong hands challenging silver suppression, Embry tells King World News Posted: 28 Jan 2013 02:23 PM PST 4:20p ET Monday, January 28, 2013 Dear Friend of GATA and Gold: Sprott Asset Management's John Embry today tells King World News that some strong hands seem to be challenging the suppression of silver's price in the futures market. An excerpt from the interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/1/28_Em... 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 |
| Gold Seeker Closing Report: Gold and Silver Fall Slightly Posted: 28 Jan 2013 02:19 PM PST Gold edged up to $1662.30 in Asia before it fell back to $1651.78 by a little before 9AM EST, but it then bounced back higher in late morning New York trade and ended with a loss of just 0.24%. Silver climbed to $31.301 in Asia before it dropped back to $30.732, but it then pared its losses in afternoon trade and ended with a loss of just 1.09%. |
| The Responsibility That Comes With Experience Posted: 28 Jan 2013 02:09 PM PST My Dear Extended Family, The weight I feel of the responsibility of giving so many members of the unleveraged gold community correct direction is enormous. I might say few could possibly shoulder the incoming negative psychology on every reaction we have had in gold since $248. Both condemning me and pleading with me for Continue reading The Responsibility That Comes With Experience |
| Gold Daily and Silver Weekly Charts - Comex Option Expiration - Kitco Lease Charts Wrong Posted: 28 Jan 2013 02:09 PM PST  This posting includes an audio/video/photo media file: Download Now |
| Gold holdings at Bank of England called into question Posted: 28 Jan 2013 01:48 PM PST By Alasdair Macleod The question that is central to the blind trust placed by central banks in the Bank of England and the Federal Reserve Board is whether or not this trust has been abused. There appear to be no audits; lessees have sold unrecorded gold into the markets; and there is evidence of outright sales using gold swaps and sight accounts (a sight account does not require physical gold to back it). With this in mind, we can make a stab at quantifying the deception (if it exists), starting with the table below. …This suggests that the amount of gold held by the Bank of England should be significantly greater than the 5,738 tonnes declared, particularly when bullion bank deposits within that total are accounted for. And if Austria's 80% in London is anything to go by, despite the obvious convenience of the rival Zurich market on her doorstep, the custody figure should be closer to 11,500 tonnes. [source] |
| Are The Currency Wars For Real? Posted: 28 Jan 2013 01:12 PM PST I thought it appropriate to start this piece with a quote from Ludwig Von Mises regarding the global system of "flexible" currencies: A general acceptance of the principles of the flexible [currency] standard must therefore result in a mutual overbidding between the nations. At the end of this race is the complete destruction of all nations' monetary systems. LINK That was written in 1949 and essentially prophesied the eventual global currency war that Von Mises visualized unfolding, as countries used currency devaluation strategies in a desperate attempt to prop up their own crumbling economic systems and "protect" their relative export power. I am not alone in thinking that we entering a very real and very dangerous global currency war. The highly regarded Comstock Partners issued their view on this four days ago: "If we are correct, the U.S. and global economies will contract and there will be a race to the bottom with "competitive devaluations" rampant. All the countries that need exports for economic growth will be very aggressive in the race to the bottom..." LINK. I remember when I first started looking at the precious metals back in 2001. I read one of James Dines newsletters at the time in which he was promoting gold and mining stocks as the ultimate defense against a global race to devalue currencies to zero. At the time I was unaware that his vision was based on the work by Von Mises fifty years earlier. Essentially, in a system of flexible, floating national currencies, the currency of each nation achieves relative value in relation to the other currencies based on either relative economic strength or relative supply of the currency. With the weak global economy, nations have resorted to devaluing their own currency in an attempt to keep their respective systems from falling apart from the burdens of too much debt and as a means of making their exports relatively cheaper. The latter strategy is also an attempt to stimulate domestic manufacturing by stimulating foreign demand. The preferred method of currency devaluation has been through prolific use of the printing press, aka "QE." As you can see from the two charts below, this process of devaluation has actually been occurring since the start of the new millennium: (click to enlarge)  This chart shows the rise in the price of gold over the last 10 years relative to the world's major currencies. Regardless of whether anyone wants acknowledge a general global monetary policy of currency devaluation, there's no question that all the major global currencies are being devalued relative to gold (the same is true vs. the Indian rupee - link, and the Chinese yuan - link). The second chart shows the decade-long currency devaluation of the U.S. dollar: (click to enlarge)  This chart shows the trade-weighted U.S. dollar index, which is considered to be a better indicator of the overall purchasing power of the U.S. dollar relative to the rest of the world. This index includes 26 different global currencies, as opposed to the standard USDX, which is just six (euro, pound, yen, Canadian dollar, Swiss dollar and Swedish krona). As you can see, the relative global value of the U.S. dollar has declined over 30% since 2002. Currency war or no currency war? As you can see from the above charts, clearly the world's major currencies are in decline vs. gold, and the U.S. dollar has been in serious decline vs. a broad basket of global currencies. But what to make of all this "noise" in the media about a "global currency war?" After, the just five days ago the chief of economist of the IMF issued a statement saying that "[t]his increasing talk of currency wars is very much overblown" LINK Usually when a high-ranking public official makes a point of officially deny something, it's worth taking a look beneath the surface to see if there's any substance behind the denial. Ironically, one day after the IMF chief economist made that statement, Bloomberg News conducted an interview with George Soros in which he specifically referenced the process of ongoing global currency devaluations: LINK I would like to note here that back in November is was widely reported that Soros was actively adding to the big position in his funds: LINK. Presumably he is doing this as a mechanism to profit from global currency devaluations per the gold/currency chart above. In addition, several major countries have issued there own warnnigs about the ongoing sovereign currency depreciation and its contribution to an escalating global currency war. Two days ago Saudi Arabia issued this statement: "Devaluation of currency by certain countries to make them more competitive in the global market has raised fears of a "currency war'" LINK And this morning I woke to find these news reports issued respectively from economic leaders in Japan LINK, Swizterland LINK and South Korea LINK. Each article either directly or indirectly references specific actions being taken to devalue the respective county's currency. In the South Korean report, a Central Bank member specifically references the outbreak of a currency war. So there it is all laid out. I'll leave it to the reader to decide for themselves whether or not they want to believe that the Von Mises proposition is unfolding before our very eyes. I will say that it appears to me as if the Jim Dines forecast of a coming race to devalue global currencies (mentioned above) that I read in 2001 looks to be very real and in motion. It also appears that the best way to defend your wealth against this insidious paper currency devaluation is to buy gold and silver. I always recommend buying the physical metal and taking delivery of it in some form, as opposed to buying the paper forms like GLD and CEF or buying into these "fractional" bullion paper accounts being promoted by Kitco and Monex. |
| Bubbles In The Past & Future – What It Means For Gold & Silver Posted: 28 Jan 2013 01:03 PM PST This is not a prediction of future prices of gold and silver; it is an indication of what could happen in a speculative bubble environment based on the history of previous bubbles. I'll summarize a simple analysis of past bubbles. Definition of a bubble: A speculative mania in a market that is priced well beyond what the fundamentals and intrinsic value indicate.
When the market proceeds into a bubble phase, it rallies beyond that new high and continues much higher. The end of phase 1 and the beginning of phase 2 are the point at which the market rallies from its correction low and exceeds its previous high. See the graph of the silver market with the indicated beginning and end points for phase 1 and phase 2.
I looked at the time and price data for the South Sea Bubble in England from 1719 -1720, the silver bubble from August 1971 to January 1980, the NASDAQ bubble from August 1982 to March 2000, the Japanese Real Estate bubble from 1965 to 1991, the gold bubble from August 1971 to January 1980, and the S&P mini-bubble from August 1982 to March of 2000. A spreadsheet will not display well, so I'll list my results. Please realize that all prices and dates are approximate – this is "big picture" analysis.
SummaryBubbles tend to follow the 80/20 ratio indicated in the Pareto Principle. Phase 1 takes approximately 70-80% of the time and covers approximately 10-20% of the total price change. Phase 2 accelerates so that it takes only 20-30% of the time but covers 80-90% of the price change.Extreme bubbles such as the South Sea Bubble and the Silver bubble experience approximately 90% of the price change in the 2nd phase. The ratio of the phase 2 ending price to beginning price is typically 4 to 8 – a huge price move. Such bubbles are rare; the subsequent crash is usually devastating. Future BubblesIn the opinion of many analysts, sovereign debt is an ongoing bubble that could burst with world-wide consequences. Should deficit spending and bond monetization (Quantitative Easing) accelerate in the next several years, as seems likely, that sovereign debt bubble will inflate further. Because of the massive printing of dollars, the value of the dollar must fall, particularly against commodities such as oil, gold, and silver. As the purchasing power of the dollar falls, an increasing number of people will realize their dollars are losing value, and those people will seek safety for their savings and retirement. Gold and silver will benefit from an increasingly desperate search for safety as a result of the decline of the dollar.Assuming the 80/20 "rule" and the phase 2 price change ratio of approximately 5, what could happen if gold and silver rise into another speculative bubble? Assume that silver began its uptrend in November 2001 at $4.01 and that gold began its move in April 2001 at $255. Silver rallied to nearly $50 in 2011, and gold also rallied to a new high of about $1,900 in 2011. Assume that both surpass those highs about mid-2013 and accelerate into phase 2 thereafter. Using these assumptions, phase 1 for silver would measure 12.5 years and phase 2 could last until approximately late 2016 – early 2017. If we assume that phase 1 was a move from $4 to $50 and that represents 19% of the total move, the high could be around $250.The ratio of phase 2 ending price to beginning price would be 5:1 – reasonable. Indications for gold suggest a similar end date and a phase 2 bubble price of perhaps $9,000 per ounce. The ratio of phase 2 ending price to beginning price would be 4.7:1 at $9,000. The gold to silver ratio at these bubble prices would be approximately 36, much higher than the ratio from 1980. Perhaps silver would "blow-off" higher, like it did in 1980, and force the gold to silver ratio lower or perhaps gold might not rally so high. Time will tell. Outrageous?Well, yes, at first glance, those prices do seem outrageous. But consider for perspective:
Given the above for perspective, is gold at $5,000 to $10,000 per ounce unreasonable or impossible? Is silver at $200 to $400 per ounce unreasonable or impossible? Past bubbles have had an ending price 4 – 8 times higher than the phase 2 beginning price, so history has shown that such prices for gold and silver are indeed possible. Possible is not the same as certain – but these bubble price indications are certainly worth your consideration.
The author published the eBook "Survival Investing With Gold & Silver" available on Smashwords & Amazon Kindle. |
| IT'S GOOD TO WORK FOR THE GOVERNMENT Posted: 28 Jan 2013 01:01 PM PST Geithner was really good to work for. You have three of the worst run companies on the entire planet and the government is paying their executives million dollar salaries and handing out raises like candy. It's good to be playing with taxpayer money. The US Treasury has exited their AIG position and has announced their plans to exit their GM position. Why aren't they trying to exit their Ally Financial position? Could it be that they want to keep doling out subprime auto loans to deadbeats in an effort to prop up GM and the rest of the dying American auto industry? The losses at Ally Financial just get paid by the American taxpayer. Obama has no intention of exiting Ally Financial and letting it operate like a profit seeking entity. That does not support his agenda. Treasury watchdog takes aim at AIG, GM payWatchdog's Romero: 'It's not business as usual' at AIG, GM and AllyBy Ronald D. Orol, MarketWatch WASHINGTON (MarketWatch) — Top executives and employees at three big companies that reaped among the largest taxpayer bailouts were paid "excessive" compensation in 2012 even though Treasury officials monitoring their pay had the authority to limit their packages, a key government oversight unit said Monday in a critical report. At issue are the 2012 pay packages of top executives and employees at American International Group Inc. (NYSE:AIG) , General Motors (NYSE:GM) and Ally Financial (formerly GMAC), three companies that received "exceptional assistance" as part of the Troubled Asset Relief Program implemented to stem the financial crisis of 2008.  Christy Romero, the Special Inspector General for the Troubled Asset Relief Program. "These companies want to be paid as business as usual," Christy Romero, who runs the special inspector general office for the Troubled Asset Relief Program, told MarketWatch. "In 2012 they seem to have met no resistance from Treasury. It's not business as usual because taxpayers had to shoulder their bailouts for many years." Because of the size of their taxpayer-funded infusions, the Treasury allowed Special Master Kenneth Feinberg, who was often called the "pay czar" and later his successor, Patricia Geoghegan, to set compensation for the top 25 executives at each of these companies. According to the report, 68 of 69 executives received pay of $1 million or more, with 16 individuals receiving pay packages of $5 million or more. It notes that 48 of 69 executives, 70%, received cash salaries of $500,000 or more and 94% received cash salaries of $450,000 or more. Romero said these payments were generally excessive and many conflicted with a principle set forth by Feinberg, who was in charge of the Treasury's pay supervision office until September 2010. The principle, Romero noted, was that cash salaries should not exceed $500,000 except for good cause and should "in most cases be well under that amount." The report also notes that Feinberg suggested that total compensation at these institutions should target the 50th percentile of comparable positions at similar companies. However, it adds that Treasury approved pay packages exceeding the 50th percentile by about $1.7 million, $1.2 million and $850,000 for three employees of Ally's mortgage subsidiary. Treasury also approved all 18 pay raise requests sought by AIG, GM, and Ally in 2012, according to the report. The raises ranged from $30,000 to $1 million. "The Treasury set the pay in a way that was very deferential for what the companies proposed," Romero said. According to the report, the Office of the Special Master said that pay raises were permitted in some instances because certain employees were at risk of leaving, were crucial to the company or they were strong performers. 'Unique circumstances'In a Jan. 25 response, Treasury's Geoghegan said that the office continues to fulfill its requirements, seeking to limit pay while keeping compensation at levels that enable the firms to remain competitive and repay TARP. Geoghegan noted that AIG's average total compensation for the top 25 employees was at the 48th percentile of similar positions at comparable companies while GM's was at the 50th percentile. She noted however that Ally's average total pay for the top 25 employes was mid-way between the 50th and 75th percentiles of similar positions "due to its unique circumstances." She added that the 50th percentile is "merely a benchmark" and not a specific limitation. The Treasury oversight office approved a $1 million raise for Peter Hancock, the CEO of AIG's Chartis unit, according to the report. It noted that the oversight office said that he is one of the most important people at AIG. The special master office also signed off on an increase in salary from $500,000 to $550,000 for an employee of Ally's ResCap "knowing that ResCap was planning for bankruptcy." The oversight office noted that the executive was "critical to successful restructuring," according to the report. Treasury exiting its positionsThe report comes as the Treasury department seeks to exit its positions. AIG finished repaying its $182 billion bailout in December, which means it is not longer subject to the pay restrictions. The Treasury said its overall positive return on the bailout was $22.7 billion. Earlier this month, the Treasury also set out a "pre-arranged written trading plan" to sell its remaining 300 million shares of GM stock and fully exit its position in the next 12 to 15 months "subject to market conditions." The government owns a 74% stake in Ally Financial, according to the report. |
| The World According to Doug Casey Posted: 28 Jan 2013 01:00 PM PST The Gold Report: Doug, you have a new book out called "Totally Incorrect: Conversations with Doug Casey." In one of those incorrect conversations with Louis James you said, "It's not the U.S. economy that's facing a fiscal cliff, it's the U.S. government. People equate government with the economy. They are entirely two different things. The only way to revitalize the U.S. economy is through both vast reductions in taxes and vast reductions in government spending. Instead, these idiots are arguing over how much to raise taxes and how little they can cut spending." Now that we have avoided parts of the fiscal cliff and delayed addressing other parts, what are your observations? Doug Casey: Nothing has changed. I am amazed to read about what is called a trillion-dollar platinum plan to get around Congress having to raise the debt ceiling. It's actually quite comical that some people are talking about it as a solution; it's Three Stooges economics. My only question is: Why not make it a $... |
| Debt ceiling's suspension means hyperinflation, Turk tells King World News Posted: 28 Jan 2013 12:35 PM PST 2:32p ET Monday, January 28, 2013 Dear Friend of GATA and Gold: Temporary suspension of the U.S. debt ceiling soon will become permanent suspension and unleash unlimited U.S. government spending and hyperinflation of the U.S. dollar, GoldMoney founder and GATA consultant James Turk tells King World News today. An excerpt from the interview is posted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/1/28_Hi... 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 Get the real story about the precious metals Now you don't have to travel to attend a financial conference to hear Sprott Asset Management's precious metals experts -- Eric Sprott, Rick Rule, and John Embry. They'll be holding a round-table discussion via the Internet at 2 p.m. ET Tuesday, February 12, and you can be part of it. Among their topics: -- Why are precious metals such a compelling investment opportunity? -- Why are non-G7 central banks buying gold? Do Western central banks have any left? -- Why are investors buying as much silver as gold in dollar terms? What does this mean for the price of silver? -- Is the growing supply deficit of platinum and palladium going to push their prices higher? To register for this Internet conference and participate from the comfort of your own home or office, please visit: http://w.on24.com/r.htm?e=579230&s=1&k=70B829852A33CD255CC2A43ED63D18D0 |
| Jeff Thomas: The disappearing gold Posted: 28 Jan 2013 12:17 PM PST 2:17p ET Monday, January 28, 2013 Dear Friend of GATA and Gold: Financial writer Jeff Thomas today shows that central bank gold swaps and leases and the massive naked short position they underwrite are starting to get figured out. Thomas' commentary is headlined "The Disappearing Gold" and it's posted at International Man's Internet site here: http://www.internationalman.com/global-perspectives/the-disappearing-gol... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Get the real story about the precious metals Now you don't have to travel to attend a financial conference to hear Sprott Asset Management's precious metals experts -- Eric Sprott, Rick Rule, and John Embry. They'll be holding a round-table discussion via the Internet at 2 p.m. ET Tuesday, February 12, and you can be part of it. Among their topics: -- Why are precious metals such a compelling investment opportunity? -- Why are non-G7 central banks buying gold? Do Western central banks have any left? -- Why are investors buying as much silver as gold in dollar terms? What does this mean for the price of silver? -- Is the growing supply deficit of platinum and palladium going to push their prices higher? To register for this Internet conference and participate from the comfort of your own home or office, please visit: http://w.on24.com/r.htm?e=579230&s=1&k=70B829852A33CD255CC2A43ED63D18D0 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 |
Recent situation in the currency markets is all that precious metals investors like to see – for some time now we have been witnessing the strength in euro and weakness in the U.S. dollar. Unfortunately, what we did not see was the usual rally in gold, silver and other precious metals that normally accompanies such a set-up. That is mainly due to the unnatural state of correlations that we already discussed before.
This is not a prediction of future prices of gold and silver; it is an indication of what could happen in a speculative bubble environment based on the history of previous bubbles.
Technical gold trader 
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