saveyourassetsfirst3 |
- Weir secures new Garpenberg process plant pump order
- Platinum price back up above gold, but will it last?
- Bundesbank to pull gold from New York and Paris in watershed moment
- One of the "stupidest" ideas in finance may have finally been put to rest
- Insider secrets for choosing the right junior resource stocks
- Must-read: "This is what it looks like when a society is starting to collapse"
- Corvus Gold Intercepts Additional Gold Mineralization from Surface at North Bullfrog, Nevada
- Euro Torn Between 1.3300 And 1.3400
- Jim Sinclair: German Gold Repatriation is the Most Significant Gold Event in 50 Years, Beginning of the End of the US Dollar As Reserve Currency
- U.S. Debt Ceiling: Platinum and Gold Are Not the Answer
- QE to “Oblivion!”
- Comstock Metals Ltd. Corporate Update
- I made this video 4 years ago . . . Germany finally listened: Germany is repatriating its Gold!
- OMFIF Report Advocates the Official Remonetization of Gold
- Gold – Underweighted but Not Forgotten
- JP Morgan's Physical Copper ETF Still Facing Headwinds
- South Africa's gold output fell by 32.2% in November
- Ireland remains silent on Gold reserves with BoE
- Silver rises 7% in a little over a week as the gold:silver ratio continues to compress
- Q&A: Cellceutix CEO Leo Ehrlich - Future Billion-Dollar Anti-Psoriasis Compound
- Yield Perspective - Amazon And Geomet Preferred
- Commodity Chart Of The Day: Gold
- Platinum Prices Move Above Gold For The First Time Since March 2012
- The GAAP In The Debt Debate
- Silver Builds on Previous Gains; Nears Breakout Point
- Quietly and with little fanfare the gold price in Yen keeps making all time highs
- Sovereign Exchange holds fundraiser for GATA in Vancouver on Jan. 19
- Bundesbank to Repatriate 374 Tons of Gold From Bank of France, Substantial Portion of Gold Held at the NY Fed!!
- The Ultimate Gold Infographic: The World's Gold Reserves & Supply
- In global reserve currency transition gold may move to center stage-OMFIF
- Centerra Gold confirms 2012 production hit
- SA Gold production dips 32.2% in Nov
- Bundesbank to Repatriate Gold: A Game Changer
- Platinum Beats Gold Price at Last
- Will the trend be bulls or bears for gold in 2013?
- Fed Issues JP Morgan Cease & Desist Over CIO Risk Management, Money Laundering
- Money Supply Figures: Monetary Inflation But Real Economy Is Dysfunctional
- Iran Removes Euro and Dollar From Trade Exchanges; More Symptoms of Iranian Hyperinflation
- Bundesbank Reported Ready to Retrieve Germany’s Gold From New York and Paris
- The Technical Traders Morning Charts
| Weir secures new Garpenberg process plant pump order Posted: 15 Jan 2013 12:53 PM PST Weir Minerals is to supply pumps and ancillary equipment for the big concentrator expansion project at Boliden's Garpenberg zinc/lead/silver mine in Sweden | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Platinum price back up above gold, but will it last? Posted: 15 Jan 2013 12:13 PM PST Perception that platinum is moving/has moved into a supply deficit situation has caused the price to rise back above that of gold for the first time in nearly a year. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Bundesbank to pull gold from New York and Paris in watershed moment Posted: 15 Jan 2013 11:56 AM PST Germany to repatriate gold reserves to combat currency crises.  This posting includes an audio/video/photo media file: Download Now | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| One of the "stupidest" ideas in finance may have finally been put to rest Posted: 15 Jan 2013 11:51 AM PST From Global Economic Trend Analysis: At long last, a stupid, as well as illegal idea dies on the vine. Bloomberg reports Treasury, Fed Oppose Using Platinum Coin to Avoid Debt Limit: The U.S. Treasury Department and Federal Reserve oppose the idea of minting platinum coins as a way to avoid the U.S. debt ceiling, according to a statement from Treasury spokesman Anthony Coley. "“Neither the Treasury Department nor the Federal Reserve believes that the law can or should be used to facilitate the production of platinum coins for the purpose of avoiding an increase in the debt limit,” Coley said in an e-mailed statement... Hopefully that will stop the downright silly, if not idiotic commentary regarding the coin, but don't count on it. I suggest this seven-step charade is what we will see. Politics of the Debate
To understand why a default is completely out of the question, please see... More on the debt ceiling debate:       | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Insider secrets for choosing the right junior resource stocks Posted: 15 Jan 2013 11:51 AM PST From The Gold Report: It is difficult for retail investors to sift the wheat from the chaff in the junior miner sector. In this interview with The Gold Report, Rick Winters reveals how RMB Resources, a resource merchant bank, figures out what projects to invest in and those to pass over and talks about some of the companies that made the cut. The Gold Report: Rick, RMB Resources invests in resource companies throughout the world. Why is RMB flocking to resource companies when most investors seem to be running in the opposite direction? Rick Winters: RMB Resources is the resource merchant banking division of the FirstRand Group, one of South Africa's major financial institutions. We've been in the business of providing finance to the junior resource sector for 18 years. We look at junior resource opportunities everywhere in the world outside South Africa. As resource investors, we're always in the game, even when the market doesn't seem to care. Our product mix may change with market conditions, but we stay in the market and are always active. TGR: With the risk-off sentiment that's prevalent in the market right now, are you making changes to your overall strategy? RW: As a merchant banking operation, we look at junior resource finance and focus on relatively higher-risk, higher-return opportunities. In times like this, when junior resource equities and mining equities aren't in favor, we look more toward quasi-equity and quasi-debt investments as a way of providing finance to companies. We do this when we have confidence in their projects, using their projects as security for a debt structure. This saves companies from dilution in a time of very low share prices... More on resource stocks:    | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Must-read: "This is what it looks like when a society is starting to collapse" Posted: 15 Jan 2013 11:51 AM PST From Pete Kofod for Casey Research: "So this is what it looks like when a society is starting to collapse," the man standing behind the counter at the hardware store said matter-of-factly. The remark had been directed at no one in particular, but generally at anyone standing nearby. As I was among that audience, I looked at him inquisitively, eliciting in return a look indicating that his observation should be intuitively obvious to even the casual observer. "We should not be this busy," he continued. "People are normally out Christmas shopping for the latest tech gadgets for their kids, but instead they are spending their hard-earned money here." I had to agree with his observation, because the place was packed, and it was obvious that his inventory was disappearing from the glass showcases and from the wall behind the counter quicker than the store could replenish it. "We have manufacturers that aren't taking any more orders. We even have a manufacturer that has shut down production and furloughed the entire workforce. I guess when we run out, we run out." He excused himself and joined his staff to help restock the shelves as well as operate the register. As I surveyed the store, I noticed no discernible demographic pattern among the customers. They included elderly ladies, young couples, construction workers, police officers, and hipster techies as well as people from virtually every ethnic and socio-economic background. They would have made the perfect tapestry for a politician's campaign stop. "So this is what it looks like when a society starts to collapse." I reflected on what the man behind the counter had said. As melodramatic as his words were, they would be understood by any student of human history. But it raised questions in my mind: "Does social decline precede economic decline? Does the decay of social graces, the protocols that define civilized interaction, the written and unwritten laws of the land, precipitate the ruin of a nation, or is it the other way around? Is it a vicious cycle where one feeds the other, and if so, can the destructive feedback loop be reversed?" Based on what I observed in the store, I'm inclined to believe that people are concerned... More Cruxallaneous:    | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Corvus Gold Intercepts Additional Gold Mineralization from Surface at North Bullfrog, Nevada Posted: 15 Jan 2013 11:37 AM PST
Vancouver, B.C., Corvus Gold Inc. ("Corvus" or the "Company") – (TSX: KOR, OTCQX: CORVF) announces the latest assay results from the first 10 drill holes of a 33 hole program on private (patented mining claims) land within the Jolly Jane deposit known as the ZuZu Zone. Initial results have shown the outcropping at the ZuZu zone to be thicker and overall higher grade than the previously defined estimated resource in this part of the deposit, as illustrated by hole NB-12-195 returning 47 metres of 0.60 g/t gold starting at surface. Drilling at Jolly Jane was designed to upgrade and expand the existing inferred gold resource to measured and indicated for inclusion in the Mayflower project feasibility study, presently underway and scheduled for release in Q1 of 2013. This additional zone of mineralization on private land could significantly enhance the economics of the Mayflower project by adding additional early stage gold ounces where production is anticipated for late 2014. Table 1
*Intercepts are approximate true width and calculated with 0.1 g/t gold cut-off and up to 3.0 metres of internal waste. Jeff Pontius, Corvus Gold CEO, stated: "The ZuZu Zone offers a great opportunity to add to our proposed early production at the Mayflower project with its very low strip ratio and deep oxidation. We look forward to the rapid completion of this strategic drilling program as well as the return of the remainder of the Yellow Jacket high-grade zone drill results which should be available in the next few weeks. As our work progresses at North Bullfrog, we continue to be encouraged as this exciting mining opportunity moves closer toward becoming Nevada's next operating gold mine". ZuZu Zone Drilling The Company's recent updated Preliminary Economic Assessment for the North Bullfrog project (see NR12-37, December 6, 2012) highlighted the opportunity for additional leach pad capacity for the Mayflower project. The ZuZu zone at the Jolly Jane deposit (Figure 1) has emerged as a possible source for low strip ratio oxide mineralization also situated on private land to take advantage of this added capacity. A drill program was initiated in November 2012 and initial results have shown that good continuity exists in the zone and it is thicker than originally projected. Following return of all assay results a new estimated resource will be calculated and utilized in the ongoing Mayflower feasibility study which will form the basis for the mining permit submission scheduled for Q2 2013. The ZuZu program will consist of 33 holes totalling 4000 metres, and is scheduled for completion in January, 2013. The first drilling has defined the northern limits of the mineralization bounded by a fault down dropping the preferred host unit below volcanic cover and has also confirmed the structural and host rock continuity of the mineralized zone to the south. It appears that mineralization is closely related to a set of NE-trending structures that may have acted fluid pathways. Figure 1: Location of the ZuZu Claim and drill holes reported in this release. About the North Bullfrog Project, Nevada Corvus controls 100% of its North Bullfrog Project, which covers approximately 68 km² in southern Nevada just north of the historic Bullfrog gold mine formerly operated by Barrick Gold Corporation. The property package is made up of a number of leased patented federal mining claims and 758 federal unpatented mining claims. The project has excellent infrastructure, being adjacent to a major highway and power corridor. The Company's independent consultants completed a robust positive Preliminary Economic Assessment on the existing resource in December 2012. The project currently includes numerous prospective gold targets, with four (Mayflower, Sierra Blanca, Jolly Jane and Connection) containing an estimated Indicated Resource of 15 Mt at an average grade of 0.37 g/t gold for 182,577 ounces of gold and an Inferred Resource of 156 Mt at 0.28 g/t gold for 1,410,096 ounces of gold (both at a 0.2 g/t cutoff), with appreciable silver credits. Mineralization occurs in two primary forms: (1) broad stratabound bulk-tonnage gold zones such as the Sierra Blanca and Jolly Jane systems; and (2) moderately thick zones of high-grade gold and silver mineralization hosted in structural feeder zones with breccias and quartz-sulphide vein stockworks such as the Mayflower and Yellowjacket targets. The Company is actively pursuing both types of mineralization. A video of the North Bullfrog project showing location, infrastructure access and 2010 winter drilling is available on the Company's website at: Qualified Person and Quality Control/Quality Assurance Jeffrey A. Pontius (CPG 11044), a qualified person as defined by National Instrument 43-101, has supervised the preparation of the scientific and technical information (other than the resource estimate) that form the basis for this news release and has approved the disclosure herein. Mr. Pontius is not independent of Corvus, as he is the CEO and holds common shares and incentive stock options. Mr. Gary Giroux, M.Sc., P. Eng (B.C.), a consulting geological engineer employed by Giroux Consultants Ltd., has acted as the Qualified Person, as defined in NI 43-101, for the Giroux Consultants Ltd. mineral resource estimate. He has over 30 years of experience in all stages of mineral exploration, development and production. Mr. Giroux specializes in computer applications in ore reserve estimation, and has consulted both nationally and internationally in this field. He has authored many papers on geostatistics and ore reserve estimation and has practiced as a Geological Engineer since 1970 and provided geostatistical services to the industry since 1976. Both Mr. Giroux and Giroux Consultants Ltd. are independent of the Company under NI 43-101. The work program at North Bullfrog was designed and supervised by Russell Myers (CPG 11433), President of Corvus, and Mark Reischman, Corvus Nevada Exploration Manager, who are responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project log and track all samples prior to sealing and shipping. Quality control is monitored by the insertion of blind certified standard reference materials and blanks into each sample shipment. All resource sample shipments are sealed and shipped to ALS Chemex in Reno, Nevada, for preparation and then on to ALS Chemex in Reno, Nevada, or Vancouver, B.C., for assaying. ALS Chemex's quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025:1999. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material and replicate samples. Finally, representative blind duplicate samples are forwarded to ALS Chemex and an ISO compliant third party laboratory for additional quality control. About Corvus Gold Inc. Corvus Gold Inc. is a resource exploration company, focused in Nevada, Alaska and Quebec, which controls a number of exploration projects representing a spectrum of early-stage to advanced gold projects. Corvus is focused on advancing its 100% owned Nevada, North Bullfrog project towards a potential development decision and continuing to explore for new major gold discoveries. Corvus is committed to building shareholder value through new discoveries and leveraging noncore assets via partner funded exploration work into carried and or royalty interests that provide shareholders with exposure to gold production. On behalf of (signed) Jeffrey A. Pontius Contact Information: Ryan Ko  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Euro Torn Between 1.3300 And 1.3400 Posted: 15 Jan 2013 11:34 AM PST By FXstreet: The euro continues to consolidate for a second day against the dollar after failing to break decisively above the 1.3400 mark and with the downside contained by the 1.3300 area. Even as the EUR/USD shows a slight negative tone today, it lacks real strength either side of the board. The shared currency slid during the European session, weighed by disappointing German GDP figures, but found support ahead of the 1.3300 mark and managed to trim losses afterward. Meanwhile, the pound continues to underperform amid fears of a prolonged recession in the U.K., while the yen strengthened after Japan's economy minister warned against excessive yen weakness. In the US, stocks area broadly lower after the latest string of data came in mixed but also dragged by technology and financials shares. While U.S. retail sales grew more than expected in December, manufacturing activity in the NY area contracted once Complete Story » | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 15 Jan 2013 11:20 AM PST Legendary gold trader Jim Sinclair has sent an email alert to subscribers today regarding last night's news that Germany will begin repatriating it's gold held on deposit at the NY Fed back to the Bundesbank, as well as all 374 … Continue reading | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| U.S. Debt Ceiling: Platinum and Gold Are Not the Answer Posted: 15 Jan 2013 11:01 AM PST In the last press conference of his first term, President Barack Obama warned Congress that it must raise the debt ceiling to avoid disastrous side effects. He goes on to claim that failure to raise the ceiling could cause delays in Social Security benefits and checks for veterans. As usual, the two political parties are not expected to resolve their bickering before the last possible moment, which is creating a debate over bandaid solutions. However, ridiculous platinum coins and the nation's gold reserves appear to be off the table. The United States started the new year by hitting its record debt ceiling of $16.394 trillion. In the final days of 2012, Treasury Secretary Timothy Geithner sent a letter to Congress warning of the inevitable event and said the Treasury Department will take "extraordinary measures" to provide approximately $200 billion in headroom. The tricks will give the bobble-heads in Washington roughly until the beginning of March to work out a deal. The first so-called temporary solution to the current debt ceiling fiasco was an idea that began a couple years ago. Due to a law intended to allow the Treasury Department to produce commemorative coins for collectors, the Treasury could theoretically mint a platinum coin with a face value of $1 trillion. In theory, the Treasury could order the West Point Mint to produce a one ounce $1 trillion platinum coin and have it sent to the Federal Reserve. Since it is legal tender, the central bank would be obligated to accept it. The coin could then be used to wipe out $1 trillion in debt or even be credited to the Treasury's checking account at the Fed, allowing Washington to deploy another $1 trillion without issuing more debt. This bandaid was scrapped before it was even removed from the box. The Safest Way To Leverage The Coming Gold Mania No platinum or golden bandaid… Over the weekend, Treasury spokesman Anthony Coley said the government and the Federal Reserve are opposed to minting platinum coins. He explains, "Neither the Treasury Department nor the Federal Reserve believes that the law can or should be used to facilitate the production of platinum coins for the purpose of avoiding an increase in the debt limit." In a statement, the White House adds, "There are only two options to deal with the debt limit: Congress can pay its bills or it can fail to act and put the nation into default." In addition to platinum miracle coins being ruled out, gold is also not likely to be used. During the previous debt ceiling debate that took place in 2011 and resulted in a credit downgrade, some called upon the government to sell its gold reserves in order to make good on its bills, without issuing more debt. For many reasons, this short-term fix also appears to be ruled out. In a recent letter to Congressional leadership, Geithner writes, "Selling the nation's gold to meet payment obligations would undercut confidence in the United States both here and abroad, and would be extremely destabilizing to the world financial Selling America's gold reserves would truly be a quick-fix that would give way to longer-term problems. According to the World Gold Council, the United States holds 8,133.5 tonnes of gold, or about 261.5 million ounces. Although this is the largest stockpile in the world among individual countries, at a price near $1,600 an ounce, it only amounts to about $418 billion. In comparison, the U.S. budget deficit in fiscal 2012 came in above $1 trillion for the fourth consecutive year. Even if the country could manage to sell its gold reserves without causing a drop in price, the funds | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 15 Jan 2013 11:00 AM PST Yesterday we were told by the president that "raising the debt ceiling doesn't allow us to spend more, it allows us to pay our bills." Really? Not spend more? Then… what happened to the $2 trillion+ "raise" of the debt ceiling just 18 months ago? Was that not "spent?" If it wasn't "spent" then where did it go? To pay interest? No, can't be that because we are not paying any more interest today than we were 10 or 15 years ago even though the debt is 3 times higher. (Neat trick huh? Take on 3 times more debt but cut the interest rates by two thirds and presto! You don't pay anything more in the way of debt service). How disingenuous? Raise the debt ceiling… we promise not to spend it. Does anyone see that if they DON'T "spend it" we will immediately enter a statistical depression? This is exactly where and what HAD to happen with the Ponzi con game that was set up in 1971 when Nixon took us off of the Gold standard. Allowing the creation of unlimited "money" through the "unlimited" creation of debt meant that the only way to continue the game was to do exactly that… create UNLIMITED amounts of debt. And here we are at "the moment of truth" where the debt service that did not rise because interest rates were lowered… mathematically is going to rise. Never mind that interest rates will rise as demanded by Mother Nature. No, debt service will rise even if rates don't because of the AMOUNT of the national debt. We have crossed the Rubicon where where interest payable must finally rise simply because the amount of debt which was "hidden" in plain sight is so large and getting larger. You see, we didn't "feel" the additions of debt (other than living in an economy that was far stronger than it would have been without the incurrence of and spending of the debt) because as interest rates went down and debt was rolled over (refinanced), the debt service did not rise. That game is over because interest rates cannot go negative for any length of time no matter how badly Ben Bernanke, Tim Geithner and the rest of the tragic cast would like them to. But wait just a minute, I had a funny thought. During the fiscal cliff talks didn't the president dig his heels in and say that "spending will not be cut, only taxes will be raised?" So by saying yesterday that "raising the debt ceiling will not allow us to spend more" he means that now, spending won't be cut or raised? Is this even possible? "Frozen" spending? I highly doubt it. The real point is this, debt service will now and in the future take up more and more of the "spending pie," it has to mathematically. And because it is not possible to tax enough to match spending we will HAVE to borrow more on a continual basis to "pay our bills" as we were told. This is the root system to the fabled "QE to infinity" that Jim Sinclair so aptly named. In reality the "infinity" part is not true as "infinity" can never really be attained. In reality, QE to "oblivion" is where we are headed. Do the math yourself; QE can never be stopped, for that matter it can never even be slowed down. …And the result? Economic, financial and social oblivion! This is not grandstanding or fear mongering, it is math, pure and simple. "QE to oblivion." Similar Posts: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Comstock Metals Ltd. Corporate Update Posted: 15 Jan 2013 10:56 AM PST VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 15, 2013) - Comstock Metals Ltd. (TSX VENTURE:CSL) ("Comstock" or "the Company") is pleased to review some of the Company's corporate milestones for the year 2012 and to provide exploration guidance for 2013. The past year was the first full year of operations and was highlighted by a promising new gold discovery at its 100%-owned QV Project. (More...) QV Gold Project, White Gold District, Yukon At the beginning of 2012, the QV project was known to be a well-located property situated on the northern extension of the same geology that hosts Kinross Gold's White Saddle discovery. Field crews had earlier encountered multi-element soil anomalies with good gold values that coincided with a magnetic anomaly that could be traced southward onto Kinross ground. Field work in early summer then encountered ever-increasing gold values in soils culminating in a showing of mineralized quartz that held visible gold. During late July, trenching was completed on the priority target, the VG Zone, yielding spectacular results. By late August, a drill rig was mobilized and managed to complete eight diamond-drill holes before the end of October. Results were very positive, such that the Company has been able to raise additional money in order to carry on drilling in 2013. Overviews of accomplishments at QV include:
Corona Gold/Silver Project, Mexico Comstock Metal's other important project is the Corona, located in the western Sierra Occidental of Chihuahua, Mexico. The region is known for its proliferation of epithermal gold and silver discoveries and is an important centre of precious metal exploration, mining, and competitor activity. At the beginning of 2012 the Company had completed an in depth review of historical data and results from 2001 to 2009 and committed to a programme of diamond-drilling on two of the historically known targets: the Northeast and the Esperanza Zones. In conjunction with drilling, field crews broadened the prospecting and geological coverage of the property and in so doing encountered new zones of mineralization and alteration that were previously not known. Overviews of accomplishments at Corona Gold Silver Project include:
Corona is owned 60% by Comstock Metals in joint venture with Golden Goliath Resources Limited. 2013 Exploration Plans Our focus during 2013 will be on our Yukon discoveries. QV Project
Walhalla Project
Corona Gold/Silver Project
Comstock is pleased with the progress made on the QV Project in the Yukon. In the beginning of the year 2012, the QV Project was a soil anomaly of 395 ppb. Towards the end of the year, the QV Project has been recognized as a legitimate gold discovery in the White Gold District of the Yukon. The Company is planning on developing this discovery to the next level of resource estimation. The year 2013 plan is to drill systematic drill holes to delineate an ore body and also to drill-test other gold zones identified through trenching in 2012. On the Walhalla Project, the Company plans on doing detail grid soil-sampling and trenching, followed by 1000 m diamond-drill program towards the end of summer 2013. At Corona, a surface-mapping program on the newly-identified 800 m strike length of vuggy quartz and alunite clays area (Jerry zone) possibly followed by deep drilling is contemplated. New Addition to the Comstock Team The Company is pleased to announce the addition to its exploration team of Duncan McBean (P. Geo) as the Vice-President of Exploration. Mr. McBean brings over 20 years exploration experience including work at advanced exploration projects and producing mines. Recent experience includes project management with Peregrine Diamonds Ltd and mineral resource management at De Beers' Snap Lake deposit. Prior to that, Mr. McBean was responsible for project advancement and exploration at Eldorado Gold Ltd. Mexican operations. Mr. McBean brings a strong background in project advancement and evaluation to the team. The technical information in this Release has been reviewed by J. Blackwell (P.Geo), a Qualified Person as defined by National Instrument 43-101. About Comstock Metals Ltd. Comstock Metals' flagship project is the QV Property in the Yukon Territory, which covers 14,180 hectares (35,000 acres) within the prolific White Gold District in the Yukon Territory, about 70 kilometres south of Dawson City. Kinross Gold's Golden Saddle deposit is 10 km to the southeast, and Kaminak Gold's Coffee projects are about 40 km to the south. Comstock's Corona Gold-Silver Property is located in the prolific Sierra Madre Occidental in Chihuahua, Mexico. The Company completed a drill programme in the spring of 2012, which discovered two new zones of gold and silver mineralization. FORWARD-LOOKING INFORMATION This News Release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects and other plans, intentions, expectations, estimates, and beliefs of the Company. Information and statements which are not purely historical fact are forward-looking statements. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein, or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Release. Contact Information
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| I made this video 4 years ago . . . Germany finally listened: Germany is repatriating its Gold! Posted: 15 Jan 2013 10:45 AM PST Jim Sinclair: German Gold Repatriation is the Most Significant Gold Event in 50 Years, Beginning of the End of the US Dollar As Reserve Currency | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OMFIF Report Advocates the Official Remonetization of Gold Posted: 15 Jan 2013 10:37 AM PST In a report published today, the Official Monetary and Financial Institutions Forum (OMFIF), a global organization of central banks and sovereign wealth funds, recommends that gold be remonetized for use as international money, alongside major currencies... Read | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gold – Underweighted but Not Forgotten Posted: 15 Jan 2013 10:33 AM PST Underweighting of gold in both private portfolios and official reserves bodes well for gold-price prospects in the years ahead – and is one of the key factors suggesting that the price of gold could easily double by the end of this decade.  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| JP Morgan's Physical Copper ETF Still Facing Headwinds Posted: 15 Jan 2013 10:30 AM PST By MetalMiner: By Stuart Burns The SEC has finally given its approval for JP Morgan to launch the first-ever copper ETF backed by the metal itself. Investors will soon have the option of investing directly in physical copper through the convenience of an exchange-traded fund, just as you can with gold, silver, platinum, and palladium. So can we rush out to buy units in JP Morgan's XF Physical Copper Trust? Well no, not quite yet, and if a last-minute challenge by about half of the US copper-consuming industry — and even some copper funds like Red Kite in London — have their way, we never will. According to the FT, a group of copper users has accused the Securities and Exchange Commission of being "arbitrary and capricious" in its decision to approve the JPMorgan physically backed copper fund. The FT says their move is likely to pave the way for a Complete Story » | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| South Africa's gold output fell by 32.2% in November Posted: 15 Jan 2013 10:29 AM PST Data released by Statistics South Africa shows that gold output fell by 32.2% in volume terms in November 2012, highlighting the impact of illegal strikes. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Ireland remains silent on Gold reserves with BoE Posted: 15 Jan 2013 10:25 AM PST The bank further said it had not entered into any lease arrangements regarding any of its gold but would not provide specific details of its storage arrangements with the Bank of England. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Silver rises 7% in a little over a week as the gold:silver ratio continues to compress Posted: 15 Jan 2013 10:24 AM PST Last week we noted that the gold:silver ratio appeared to be rolling over: When the ratio fell from 60 to 51 at the end of August it was accompanied by a 12% rally in gold. Then when then the ratio... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]           | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Q&A: Cellceutix CEO Leo Ehrlich - Future Billion-Dollar Anti-Psoriasis Compound Posted: 15 Jan 2013 10:17 AM PST By Over the last few months, Cellceutix Corporation (CTIX.OB) has been generating a steady and growing speculative buzz and an impressive stock price escalation to match. The key driver of this aggressive recent climb in share price has been the on-schedule progress of the company's flagship anti-cancer drug, Kevetrin, currently in Phase 1 clinical trials being conducted at Harvard's Dana Farber Cancer Center and partner Beth Israel Deaconess Medical Center. With no evidence of any toxicity concerns so far, this novel and groundbreaking oncology compound has the potential to be a game changer for the next generation of cancer treatments across the globe. The successful completion of dosing for the first cohort in this trial, in addition to the approval of and beginning of dosing at elevated levels for a second cohort, have spurred investor confidence in the new drug candidate. Kevetrin's impressive potential centers around its ability to activate the Complete Story » | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Yield Perspective - Amazon And Geomet Preferred Posted: 15 Jan 2013 10:16 AM PST By Josh Young: The stock market is a remarkable place. Some stocks trade at extremely high price-to-earnings multiples, anticipating huge future revenue growth and margin expansion. Others trade at low multiples, anticipating declining revenue and margins. And still others trade on their yield, or the percent dividend that they pay to investors. Monday Amazon (AMZN) traded up to a new 52-week high, almost touching $275 per share. According to Yahoo Finance, Amazon's PE is over 3000, and it does not pay a dividend. Obviously, investors in Amazon are betting on future growth and the company's ability to substantially improve its profit margins, which are close to 0 (Yahoo shows Amazon's profit margins at 0.07%). One way to think about a PE multiple is in terms of "yield math." If a company has a PE multiple of 20, that implies that for every dollar value of stock, the company is earning 5 cents. If Complete Story » | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commodity Chart Of The Day: Gold Posted: 15 Jan 2013 10:15 AM PST By Matthew Bradbard: (click to enlarge) In the last 3 weeks, gold has built a solid base as prices have consolidated trading on both sides of the 200 day MA -- identified by the light blue line. Though futures probed the 61.8% Fibonacci level as seen on the chart above, prices never settled below that critical pivot point. Off their lows 2 weeks ago, prices have already advanced over $50/ounce as of this post. I think if we can get a settlement above the 50% Fib level at $1675, we should be on our way to the 38.2% level just above $1700/ounce. I see the next significant resistance at the 100 day MA -- identified by the red line, currently at $1718. One of the most significant features I want to point out on the chart is that before we reach the apex in the triangle, we should see prices breakout (up Complete Story » | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Platinum Prices Move Above Gold For The First Time Since March 2012 Posted: 15 Jan 2013 10:11 AM PST By Ed Liston: Platinum prices have risen sharply in trading today after the world's largest platinum producer, Anglo American Platinum Ltd. (AAUKY.PK), announced that it will suspend production at several of its mines in South Africa. The rally has helped platinum prices move above gold for the first time since March 2012. Rising Costs and Expectations of Slower Growth in Demand Anglo American Platinum, which produces around 40% of the world's mined platinum, announced that it will suspend production at several mines in South Africa. The planned move will lead to 14,000 job losses and a decline in annual production of 400,000 ounces. The company made the decision to suspend production after conducting a review of its business. The review, which was announced in February last year, was done in response to revised expectations for platinum demand growth and several structural changes that have eroded profitability in recent years. Platinum producers have Complete Story » | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 15 Jan 2013 10:10 AM PST There's a fascinating (and enraging to both sides) argument going on over whether debt really matters. On one side are the Austrian-inspired hard money advocates who see excessive borrowing as even worse for governments than it is for individuals and families. On the other side are the Krugman/Bernanke Keynesians who think debt is no big deal if that's what it takes to sustain "aggregate demand". But of course you know all this. An interesting and less well-understood offshoot of this argument involves the nature of debt. Is it strictly limited to contracts with specific repayment terms? Or should unfunded liabilities be seen as money owed? If the latter, then we owe a hell of a lot more than we think we do. Not surprisingly, the battle lines are identical to those of the greater debt debate, with followers of Hayek and von Mises (like Ron Paul and Peter Schiff) on one side and Keynes, Krugman and president Obama on the other. Here's an argument in favor of viewing unfunded liabilities as debt:
So we're irredeemably bankrupt…or not. Here's a direct rebuttal from The Atlantic that dismisses the "unfunded liabilities are debt" idea as irrelevant:
Some thoughts But there's also a reason that generally accepted accounting principles (GAAP) require corporate and state/local pension plans to calculate their liabilities to the best of their ability — and then fund the resulting guestimate: We know these plans will cost something, and it's crucial to fund the obligation that seems most likely, based on the work of actuaries trained to get as close as possible. Over time with any plan you make adjustments, but it's very rare for a pension or entitlement to announce that its costs are dramatically lower than expected. Almost without exception the opposite is true. So sure, health care could cost a lot less when stem cells and genetic engineering go mainstream. But in the meantime we've got this wave of boomers retiring, many of whom are going to cost a fortune over the next decade no matter what stem cells do. AND they're going to end the career of any politician who tries to scale back their coverage. So defaulting on retiree health benefits would be more politically dangerous than stiffing China on its bond interest. These liabilities won't, in short, be eliminated with any stroke of the pen. Actually it's kind of disorienting trying to understand and give respectful hearing to the "debt doesn't matter and there's not that much of it anyhow" argument. This is one of those things (like school choice) where one side seems to get it so completely that it's hard to credit the other side with honest intentions. Whatever we call these things, they're obligations that we're dumping onto either our kids and grandkids or our own investment portfolios (which will be vaporized if we really do owe $2 million per family of four). So either our kids are impoverished in 2025 or boomers are bankrupted in 2015. The author of Atlantic piece, furthermore, doesn't completely get the concept of discounting. But that's a subject for another time. More interesting is this: "The good news is we have 75 years.…In 75 years, our economy will be massive." Well, an Austrian economist would say that once your national balance sheet becomes sufficiently fragile, your economy has to shrink, dramatically and for a long time, until the excess debt is wiped out. So this long-term future growth will begin from a base that's a lot smaller than today, and therefore won't reach the size that a simple linear projection would imply. But it is true that projecting anything out more than a few years is kind of silly, based both on history (compare the expectations of people in 1912 with the way the century actually turned out) and on technology. The singularity will shred our long-term plans. But the coming decade, when current law is etched in stone and technology and demographics will raise rather than lower costs, looks mathematically pretty grim. We boomers are retiring now, and our benefits have to be paid now. So the big cost spike is coming fairly soon – when we're already accumulating a trillion dollars a year of real, official debt.
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| Silver Builds on Previous Gains; Nears Breakout Point Posted: 15 Jan 2013 09:54 AM PST Both silver and gold are moving higher today as they add to gains made in yesterday's session, gains which I might add, tremendously improved the technical chart picture for silver. See the chart posted yesterday evening in reference to silver but note also the following chart detailing the strong move higher in the Continuous Commodity Index. It is closing in on its 50 day moving average which closely corresponds to the level near 565, the line marked, "initial resistance" on the chart.  As you can see, since September of last year the entire commodity complex as a whole, has been trapped within a defined downtrending channel. This is important to note because it has enabled the idea that the Fed's easy money policy are not proving to be inflationary, to gain credence. After all, if wholesale prices of basic commodities are trending lower, it is difficult to make the case that an inflationary episode lies just around the corner. This latest move higher in the index must therefore be closely monitored as any change in the technical posture of this chart, will be the first sign of inflationary pressures beginning to surface in the economy at large. If, and this is a big, ""IF", the index pushes past BOTH resistance levels noted on the chart and breaks out of the channel, especially if it clears the region near 578, expect to hear increased chatter about inflation. This should especially benefit silver, which is much more sensitive to inflation pressures than is gold, or least has been if recent past is any indication. Quite frankly, I have been a bit surprised that it has taken so long for the sector to see much in the way of money flows, especially with the equity market moving so strongly higher on the thesis that the global economy is recovering. If it is, especially in the case of China, then commodities as a whole would also benefit under such a scenario. Throw in the fact that a Yen Carry Trade, or even a Dollar Carry Trade, could easily be used by aggressive hedge funds to leverage themselves up to the gills once again to try to take advantage of the ultra low borrowing rates to fund such a carry trade, and the ingredients for a rally in this sector should seemingly be coming into vogue. Moving back to the silver chart, it pushed through the 200 day moving average in yesterday's trade but instead of falling back below that level, it has added to gains and is now threatening a breach of what has been tough overhead resistance near the $31.50 level. If it takes that out, it will make a try at the downtrending 50 day moving average just shy of the $32 level.  The RSI looks good as it has pushed through the peak made in that indicator coinciding with the first push to $31.50 at the beginning of this year. Incidentally, the Platinum group metals are both putting in strong performances today; this is helping silver as it tends to feed into an impulse to buy industrial metals. Gold is strong today as it works towards its overhead resistance first near $1685 but more specifically near the $1696 level. That level also happens to be where the falling 50 day moving average comes in. Expect some opposition to the metal if it makes it to that point. Gold needs to put a handle of "17" on itself if it wants to get any excitement going in terms of sparking some short covering and more momentum oriented buying. If it does, all of those fresh hedge fund short positions that were added below $1650 over the last two weeks will be in serious trouble.  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Quietly and with little fanfare the gold price in Yen keeps making all time highs Posted: 15 Jan 2013 09:34 AM PST It seems to have escaped most people's notice that gold when priced in Yen keeps making new all time highs. Gold peaked in August 2011 at around 147,000 Yen – today gold trades around 149,230,... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]       | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Sovereign Exchange holds fundraiser for GATA in Vancouver on Jan. 19 Posted: 15 Jan 2013 09:32 AM PST Our friends at GATA stand to benefit from a fundraiser at the Vancouver Resource Investment Conference. Spread the word to bring a little metal and support GATA. (More...) Dear Friend of GATA and Gold: The Sovereign Exchange, a British Columbia-based company putting silver back to work as money http://thesovereignexchange.com/ -- is planning a fundraising party for GATA this coming Saturday, January 19, on the eve of the Vancouver Resource Investment Conference, in which both GATA and the Sovereign Exchange are participating, a fundraiser separate from GATA's own, scheduled Monday, January 21. The GATA fundraiser sponsored by the Sovereign Exchange will be held at 4 p.m. Saturday at the beautiful Granville Island Hotel in the False Creek section of Vancouver. Admission is by invitation only with an admission fee of $100 (Canadian or U.S.) or 2 silver ounces. A few invitations remain available. To get one, please e-mail Sovereign Exchange founder Steve Merrill at: The fundraiser notice is posted here: http://archive.constantcontact.com/fs142/1100735459510/archive/111213581... CHRIS POWELL, Secretary/Treasurer January 15, 2013 (Source: GATA) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Posted: 15 Jan 2013 09:30 AM PST While Bernanke spent his afternoon today outlining why the gold standard can never work (never mind the fact that it worked perfectly for 2 centuries in America), the Bundesbank has just shattered the remaining confidence in the fractional bullion banking system, announcing that it will repatriate a portion of its gold reserves from the NY [...] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The Ultimate Gold Infographic: The World's Gold Reserves & Supply Posted: 15 Jan 2013 09:00 AM PST Our friend Oto from Demonocracy.info has released another must see infographic. Rather than depicting the US debt or deficit in $100 bills dwarfing the NY skyline and reaching the moon, Demonocracy's latest infographic depicts the world's entire gold supply in bullion bar form. In the wake of the Bundesbank's announcement that it will repatriate its [...] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| In global reserve currency transition gold may move to center stage-OMFIF Posted: 15 Jan 2013 08:43 AM PST If financial collapse continues to haunt the dollar and the euro, as China's renminbi needs time to hit its stride, the world may rush into the safe haven of gold, says a new report. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Centerra Gold confirms 2012 production hit Posted: 15 Jan 2013 08:32 AM PST The gold miner was forced to substantially cut its 2012 production outlook in November, as output at its Kumtor mine was hit by ice movement in the pit. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SA Gold production dips 32.2% in Nov Posted: 15 Jan 2013 08:30 AM PST Analysts said the impact of a wave of wildcat strikes that swept the sector last year remained and reflecting in the outcome. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Bundesbank to Repatriate Gold: A Game Changer Posted: 15 Jan 2013 08:25 AM PST I didn't get back to our home in Miami until late Monday afternoon. I wasn't planning on writing today, but I decided to because of the IMPORTANT article released late Monday by Zero Hedge. It could be a game changer for gold. Be sure and read it. Also read comments from GATA (Handelsblatt report translated) and from Bill Holter (Rule of Law) on this bombshell. Similar Posts: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Platinum Beats Gold Price at Last Posted: 15 Jan 2013 08:16 AM PST So, to mark the demise of the Trillion-Dollar Coin idea, platinum just did something it's not managed in almost a year. Its price rose above the price of gold Tuesday morning for the first time since mid-March 2012.  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Will the trend be bulls or bears for gold in 2013? Posted: 15 Jan 2013 08:10 AM PST As we turn the calendar over, there are probably two dominant questions on the minds of most precious-metals investors: Will gold and silver have a better year than the last two? And will gold stocks finally break out of their funk? 2012 was an interesting year for our favorite metal. On one hand, gold was up only single-digit percentages for the second consecutive year: 8.3%, after rising just 9.1% in 2011. It was also outperformed by the S&P 500 Index, though this was the first time since 2004 and only the third since 1999. On the other hand, the price has now risen 12 consecutive years, overshadowing most other bull markets in modern history. Gold stocks as a group were down for the second consecutive year. GDX (Gold Miners ETF) fell 9.8%, after dropping 16.3% in 2011. GDXJ (Junior Gold Miners ETF) lost 19.9% last year, after sinking 38% in 2011. Here's a snapshot of our industry for 2012, along with how it compares to other asset classes. Perhaps a more constructive way to view things is from a longer-term perspective. How have these same sectors performed since the 2008 financial crisis? Over the past four years, gold and silver have provided the best returns among major asset classes. Gold producers, meanwhile, have collectively underperformed the metal, while the juniors as a whole have lost money. Some claim that gold is in a bubble, because it has advanced so much. "It's already gone up a lot," they say. The reality is, however, that this bull market is small compared to most others in modern history. Over the past 40+ years, our bull market would be among the smallest of the major bull markets listed, in terms of percent gains. It's about a quarter of what the 1970s bull market returned. A good number of them also lasted longer than ours. Based strictly on percentages, I'd bet that ours isn't over. Further, history shows that bull markets tend to end in a climactic blow-off top. For example, gold rose 120% in 1979. Our best year was 32% in 2007. Hardly meteoric, and contrary to how the typical bull market culminates. And this is all without getting into all the fundamental reasons to continue buying gold. So what does the gold price do in 2013? I think that's the wrong question. Since gold is the best and longest-lasting way to store wealth ever adopted in history, and not technically an investment, the more accurate query is: will gold continue to protect my purchasing power? Worded that way, we begin to see gold its proper light: real money. If we're holding gold as money, the question then becomes: how much is our purchasing power in dollars or other alternatives to gold likely to decrease this year? And in future years? If there's one thing we're certain of, it's that the current path of debt accumulation, deficit spending, and money printing will continue to devalue dollars and other unbacked currencies – and probably at an accelerating speed in the not-too-distant future. That makes gold a must-own asset despite its 500+% advance since 2001. I've read some analysts claim that these things are already factored into the gold price. That's debatable, but even if they're right, what's not priced in are the delayed and indirect consequences from all those actions…
The problem is that overindebtedness, overspending, and printing currency is not all candy, lollipops, and romantic horseback rides on the beach. It's not free of consequences. We have yet to experience the full ramifications of how these actions are undermining our currency. And that won't be a fun or pain-free process. For this month's issue of BIG GOLD, we interviewed 19 noted economists, gold analysts, best-selling authors, fund managers, and senior Casey Research staff – and not one of them believes the fallout from the reckless monetary policies of governments around the world has peaked. Most believe the worst is yet to come, with varying degrees of aftereffects. And they all recommend continuing to buy gold. If you're not reading BIG GOLD, this is the perfect issue to start with… following the investment recommendations from this highly successful group, your portfolio will be positioned for maximum effect for 2013 and beyond. As a free preview, I'll mention that most of the experts I surveyed believe that the coming fallout will take an inflationary form. All are concerned. Even those who think deflation is more likely urge investors to hold gold as one of the best ways to protect themselves for what lies ahead. They also point out that while gold stocks have been disappointing, they represent an incredible bargain at present, and that while they could get cheaper, the potential upside far outweighs the downside at this point. I'm also happy to point out that while GDX dropped 9.8% last year, the BIG GOLD portfolio was up 7.8% – and that's without averaging down, which many subscribers took advantage of. I'm convinced that our portfolio holds the best gold producers, and most of our experts name their BIG GOLD favorites. In the hot-off-the-presses International Speculator, Casey Research Senior Metals Investment Strategist Louis James names a stock currently on the deep-discount rack that he's convinced won't stay there for long. The first two sentences from his introduction were very clear and direct, and spurred me to log on to my brokerage account and take action. So, what will gold do this year and beyond? Whatever crazy and unpredictable twists and turns history takes in the future, gold will still be gold, and the best way yet devised to safeguard wealth. The ultimate question then is: what standard of living would you like to maintain? Most people would say: "As high as I can!" That's why we continue to buy gold. And based on our research, lessons from history, and some of the most successful investors in the sector, we have a long way to go in this gold bull market. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fed Issues JP Morgan Cease & Desist Over CIO Risk Management, Money Laundering Posted: 15 Jan 2013 07:45 AM PST The Federal Reserve Monday issued it's owners (JP Morgan Chase) a two separate Cease and Desist orders. The first orders JPM to take corrective action regarding its prop-trade hedge fund known as the Chief Investment Office (CIO), and the second orders The Morgue to take corrective action regarding compliance with anti-money laundering requirements. The Office [...] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Money Supply Figures: Monetary Inflation But Real Economy Is Dysfunctional Posted: 15 Jan 2013 07:34 AM PST
"He that gives good advice, builds with one hand; he that gives good counsel and example, builds with both; but he that gives good admonition and bad example, builds with one hand and pulls down with the other." — Francis Bacon The growth in the MZM and M2 money supplies are very strong, almost remarkably so given the very slack growth in employment and GDP. So why do we not see any serious inflation in prices? Or real gains in employment for that matter. As an aside, I think some of the more 'modern' and aggressively modified measures of price inflation, like chained CPI, do not measure price inflation at all, but consumer behaviour under increasingly trying circumstances as people cope by reducing their standard of living. Continue Reading at JessesCrossroadsCafe.Blogspot.ca… Gold Report Sign Up Below
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| Iran Removes Euro and Dollar From Trade Exchanges; More Symptoms of Iranian Hyperinflation Posted: 15 Jan 2013 07:32 AM PST by Mike Shedlock
Minister of Economic Affairs and Finance Shamseddin Hosseini said Monday that Iran would no longer use euro and dollar in its trade exchanges according to a decision made by the government's economic working-group. Iranian state news agency IRNA writes about this. "Iran's government is determined to remove euro and dollar from its foreign trade and is to change its foreign trade pattern," said the minister while speaking to reporters at the end of a meeting with the representatives of the Economic Cooperation Organization (ECO) member countries. Symptoms of Hyperinflation Iran removed the Euro and dollar from its foreign trade patterns not because it wished to do so, but rather because it has no euro or dollar reserves it can use. Continue Reading at GlobalEconomicAnalysis.Blogspot.ca… Gold Report Sign Up Below
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| Bundesbank Reported Ready to Retrieve Germany’s Gold From New York and Paris Posted: 15 Jan 2013 07:15 AM PST by Ed Steer
Once the roll-overs out of the February delivery month were subtracted from yesterday's trading volume, the net volume was pretty light…and that was certainly reflected in the price action on Monday. There was a bit of rally after the silver fix in London trading, but that got stopped in its tracks shortly after the Comex opened…and then down it went into the 3:00 p.m. GMT London gold fix. From there, the gold price got sold off every time it broke above the $1,670 spot price mark. The high tick…$1,676.10 spot…came less than fifteen minutes after the Comex open. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The Technical Traders Morning Charts Posted: 15 Jan 2013 07:06 AM PST Yesterday's trading session played out exactly as posted in the morning chart update. Today will be a different story from the looks of it as the dollar index looks to be putting in a bottom and that has the SP500 down 0.40% this morning. It may trigger our first entry point to let long stocks today. Dollar Index: SP500 Futures: Natural gas has been holding up well the past two sessions and looks as though it is forming a cup and handle pattern at the $3.40 level. The first upside target would be $3.50 then $3.60. Crude oil has been trading sideways/higher the past week but the on balance volume clearly shows sellers are unloading contracts at the $94 level. Yesterday I talked about how crude oil was walking a fine line up its support trend line and once that breaks look out! Price is holding up but be aware it could drop fast and hard any day here. Gold and silver traded higher yesterday while the miners lagged. This is not a bullish sign for the metals. The trend remains down and we need a clean break before getting long. Bonds continue to their march higher as expected and this type of price action points to lower stock prices. This morning stocks are set to gap sharply lower confirming money is rolling back into the safe haven (bonds) for protection from falling share prices. Be sure to follow my trades at www.TheGoldAndOilGuy.com and my free watchlist:https://stockcharts.com/public/1992897 Chris Vermeulen Gold Report Sign Up Below
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system."
Inquiring minds note that 
Yesterday in Gold and Silver
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