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- Gold And Silver Monthly Charts: Elite Supernova Death Dance In Precious Metals?
- {KR674] Keiser Report: Naughty Banking Boys
- Gold Price Falls Below Support Although Breakdown Confirmation Needed
- Nomi Prins: Why the Financial and Political System Failed and Stability Matters
- Doug Noland: Kuroda, Bubbles and King Dollar
- Japan’s Nikkei 225 Soars to Seven-Year High on BoJ, GPIF
- U.S. Mint Silver Eagle Coin Sales Jump to 21-Month High
- Gold Miners Plunge to 12-Year Low as Metal Drops
- Paypal cuts off Swiss Gold Initiative donations through Matterhorn Asset Management
- Ancient Coins: The Most Famous Coin of Antiquity
- Lawrence Williams: Gold and silver dive yet Chinese demand keeps rising
- Silver Eagle Sales Climb 87% Higher in October
- The Lost Gold Mine of Venezuela
- HUI / Gold Ratio hits lowest level ever recorded (UPDATED with Gold Chart)
- Gold & Silver Staring into the Abyss: Next Major Support at $1,000 & $9!
- Gold & Silver Staring into the Abyss: Next Major Support at $1,000 & $9!
- Gold And Silver Price Crash Of 2014 Coming?
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| Gold And Silver Monthly Charts: Elite Supernova Death Dance In Precious Metals? Posted: 01 Nov 2014 10:44 AM PDT On several occasions, over as many months, comments have been made here to the effect that reading developing market activity is the best source for knowing what to expect, moving forward. Most people have a need to rationalize the markets by coordinating known events with the current price. Last year, it was how many record coin sales around the world would impact the market, then the number of tonnes China and Russia were importing. Lately, the opening of the Shanghai Gold Exchange where true price discovery could be expected, the ongoing disappearance of reserves held by COMEX and LBMA, etc, etc, etc., none of which had the market impact for which so many had hoped. Despite all the overt bullish demand for physical metals, gold and silver have been making new recent lows, reaching levels few imagined, even just several months ago. What has been missing is an explanation for why the PMs continue to decline, and we have been postulating that the Rothschild elites have been responsible for the perpetual downward manipulation in defiance of known fundamentals. History proves all fiat money systems fail, and the United States with its toxic fiat Federal Reserve Notes, in the multi-trillions are destined to join the same fate of failure. Is it any different this time? No, but degree to which circumstances have been distorted is far beyond anything else, historically. As a consequence, expectations have not been able to adjust to the greatly exaggerated conditions. A supernova is when a very big star explodes. This happens when a star runs out of energy to make heat and light, so it collapses, then explodes, its brilliance at its peak just prior to its ultimate demise. What we are witnessing is the likely supernova death dance of the existing Rothschild dynasty, flaring up in its culminating demise after a few hundred years of unparalleled financial power. The "silver stake" in the heart of that insidious group is silver and gold, the kryptonite against the Rothschild central bank fiat. This is not to imply that the end will be immediate for it may yet take much more time, a more likely scenario. A few indicators are the switch of the head of Deutsche Bank, as one example. Its current CFO is to be replaced by an ex-Goldman Sachs executive, one of the primary sources for elite-control of how business is conducted. This indicates the status quo is still calling the shots. Deutsche Skatbank is now going to charge its large depositors a .25% fee for keeping their cash in the bank, a negative interest rate. Only the fiat central bankers would keep draining people of their own money. "What's yours is ours," is their motto. As long as it is business as usual, PM are going nowhere. Another key event is the Swiss referendum at the end of November to see if the central bank will be required to increase its gold holdings to 20% from the current 7.8%. This event will be a huge tell. Obviously, Swiss central bankers are solidly opposed to this restriction, preventing them from irresponsibly issuing fiat at will. If passed, the Swiss would have to purchase around 1,700 tonnes of gold, and that is about 70% of total annual gold production. It would create havoc for the gold-selling manipulators. The referendum is popular with the people who favor a return to more sound money management for their economy. If the measure fails, it will once again demonstrate that people do not matter, only bankers and their corrupt debt-enslavement of the masses. A win for the bankers is a loss for everyone else, and it will tell you that the timetable for a recovery in gold and silver will still be on hold and central bankers are still in control. It will be a set-back for anyone's timetable. We cannot point to anything in the US because the public is fed a constant flow of lies from the elite back-pocket-owned media. Gold is not considered to be any kind of a store of value, and its holding by the public has been erased from their pliant minds. The only buyers and holders of precious metals are those who are more independently minded and more informed, but even their mental mettle is being tested by this constant suppression of prices. Are the elites winning? Absolutely. Can they persist over time? Absolutely, but the probability of keeping price suppressed keeps diminishing with the passage of time. When will that point in time come? That is another absolute, which is: not a day sooner than when it happens, and not even the Rothschilds could provide the answer if their sordid lives depended on it. The best anyone can do is to accept what is, the unknown or the unknowable. We were as surprised as anyone that 26 in silver did not hold, and also when it took over a year as price moved in a trading range, and even more surprised to see a 16 handle, even 15, briefly, last week. However, it is what it is, and it is a clear message that the elites are not going to give up easily, if at all, even if self-destruction is required. All anyone can do is be prepared for what is certain to come, even though its certainty as an event is anyone's guess. Are PM holders dissatisfied, disillusioned? Many are, maybe most, but their feelings cannot and will not change what is. If anyone bought and held gold/silver with the expectation of selling it for a higher price over the past year or two, then that was a speculation, less leveraged than buying futures, but speculation nonetheless. The primary reason for buying and holding gold/silver, it seems, is as a store of value for when the fiat system collapses, as it will, and under this consideration, time was less of a factor, even though expectations have been somewhat dashed. With little or no intent to sell one's holdings, one has less value than in the past few years. It is more akin to the housing bubble. Many who own homes have seen their property values decline. Does that mean home owners will sell simply because the price has dropped? No. The same holds true for stackers of silver and gold. You do not sell simply because price is lower. The driving down of price is intended to take the wind out of the sails of PM holders. That alone should be a sufficient message that owning both gold and silver is the right tactic. What has ben missing during this 3+ year decline in PMs has been what we have pointed to on several occasions, a form of ending action that sends a message that a change in trend is in progress. Last Thursday and Friday's sharply higher volume and wide ranges lower is the kind of activity that leads to the end of a trend. There is not enough to say it has happened, to be sure, but the end game is starting to step up and be closer to a resolve of ending of the down trend. The monthly shows no promise of change in the direction where price has been headed. It may not be what many want to hear, but it is what the market is indicating. A point to be made for addressing the disappointment of how price has declined without respite for the past few years. It stems in large from believing the bullish news related to gold and silver and hanging one's hopes on such events, even though there was no indication from the charts that a trend change was in the making. This is why we never stop saying that the charts are the best source for market indications. Ultimately, fundamentals will prevail, but the greatest weakness of fundamentals is the almost total absence of timing, and in the markets, as we all know, timing is everything. Here is a great example of what having a bias in a market can do. We have talked about bearish spacing for over a year, and it is called "bearish" spacing for a reason, that being a sign of market weakness. Within the trading range of the past 17 months, the market has shown a series of lower swing highs. A lower swing high is another indication of weakness, and they are a hallmark of a bear trend. Yet, price kept holding the 18.60 area, giving reason to "believe" a bottom may be forming. [Beliefs are perceptions about reality but not necessarily reality itslef. Change the belief, and you change the reality.] We are not impervious to the bullish news about PMs, and the fact that we have been buyers of the physical before and after the highs gives a bias toward "believing" fiat will fail and gold and silver will prevail. Maintaining a bias translates into how markets are perceived. The combination of bearish spacing, a series of consecutively lower swing highs, especially when the last swing high rally fizzled out in June, meant the probability of support breaking increased significantly. Our bias allowed for seeing and recognizing both, but the biased "belief" partially blocked the importance of what the market's message was sending. This is why we are surprised to see support broken, but can more readily accept what is because the market never wavered in its bearish message. Last Thursday and Friday are signs of panic selling, based on the sharp increase in volume at the lows. That the sharp increase occurred at the lows tells us strong hands are in the market taking whatever sellers have to offer. It is too soon to assess if last week is a sign of bottoming activity, but the level of volume is an important tell. As an aside, the gold/silver ratio is just over 72:1, and this favors buying silver over gold on the premise that the ratio will come in at some point in the future. It says that at some point, silver will out perform gold. The fact that the gold/silver ratio still shows gold as being stronger than silver is evident in the charts. Gold has breached its 1170 area support, but not by much. Keep in mind that support is an area and not some absolute number. Chart comments apply, and not much more can be added. We view the sharp decline and equally sharp volume increase as a positive development. Why? It tells us that the end of the trend is nearing more than the market has indicated for the past few years. These low levels are a gift for physical PM buyers. Anyone who bought gold at $1,600 or higher, expecting considerably higher prices should view being able to buy it 25% cheaper should be as ecstatic as the Chinese and Russians, both of whom are buyers of the physical knowing full well the higher prices are coming. Their time frame is much longer, but their convictions as to direction are no less resolute than yours have been and should continue to be. Fundamentally, the most bearish news last week came from Alan Greenspan who said to buy gold. "Come into my house," said the spider to the fly. |
| {KR674] Keiser Report: Naughty Banking Boys Posted: 01 Nov 2014 10:31 AM PDT We discuss how, in the words of Laura Ingalls Wilder, once you begin being naughty, it is easier to go and on and on, and sooner or later something dreadful happens. And in a world of very naughty bankers, many dreadful things have happened. In the second half Max interviews Dan Collins of TheChinaMoneyReport.com about the emerging post-dollar order as evidenced in the newly launched Asian Infrastructure and Investment Bank and the Shanghai-Hong Kong Connect scheme. They also discuss how in China Jim Rickards went viral and how steel costs as much as cabbage. |
| Gold Price Falls Below Support Although Breakdown Confirmation Needed Posted: 01 Nov 2014 10:29 AM PDT This is an excerpt from the daily StockCharts.com newsletter to premium subscribers, which offers daily a detailed market analysis (recommended service).
We have been watching gold for a possible triple bottom, a base for the next strong rally. Earlier this month gold bounced off an important support line, offering hope to gold bulls that the third bottom in the series would be successful. However, the price of gold has slipped badly in the last two weeks, and on Friday the triple bottom support line failed to hold. The weekly chart shows the big picture. While the triple bottom looked tempting, the consolidation of the last year was a negative continuation pattern, meaning that it would most likely resolve downward as the decline from the 2011 top resumed. The declining tops marking the top of the formation was also a negative sign. Finally, the persistent discount* on shares of Central Gold Trust (GTU) displayed on the bottom panel showed that sentiment on gold never got out of the basement. The main factor in gold’s problems is the strength shown by the U.S. dollar since midyear. While it consolidated gains in the first half of October, it jumped to new highs on Friday. Conclusion: While we anticipated that gold’s decline might end with a triple bottom, that possibility seems remote with Friday’s breakdown. The breakdown will not be decisive until price drops to about 1145, but it now seems unlikely that gold will begin a new bull market any time soon. |
| Nomi Prins: Why the Financial and Political System Failed and Stability Matters Posted: 01 Nov 2014 02:48 AM PDT  Nomi Prins: Why the Financial and Political System Failed and Stability Matters The recent spike in global political-financial volatility that was temporarily soothed by ECB covered bond buying reveals another crack in the six-year-old throw-money-at-the-banks strategies of politicians and central bankers. The premise of using banks as credit portals to transport public funds from the government to citizens is as inefficient as it is not happening. The power elite may exude belabored moans about slow growth and rising inequality in speeches and press releases, but they continue to find ways to provide liquidity, sustenance and comfort to financial institutions, not to populations. The very fact - that without excessive artificial stimulation or the promise of it - more hell breaks loose - is one that government heads neither admit, nor appear to discuss. But the truth is that the global financial system has already failed. Big banks have been propped up, and their capital bases rejuvenated, by various means of external intervention, not their own business models. Last week, the Federal Reserve released its latest 2015 stress test scenarios. They don’t even exceed the parameters of what actually took place during the 2008-2009-crisis period. This makes them, though statistically viable, completely irrelevant in an inevitable full-scale meltdown of greater magnitude. This Sunday, the ECB announced that 25 banks failed their tests, none of which were the biggest banks (that received the most help). These tests are the equivalent of SAT exams for which students provide the questions and answers, and a few get thrown under the bus for cheating to make it all look legit. This commentary appeared on the nomiprins.com Internet site at 3:39 p.m. EDT on Monday---and I thank Mark Hancock for sending it along. |
| Doug Noland: Kuroda, Bubbles and King Dollar Posted: 01 Nov 2014 02:48 AM PDT  Doug Noland: Kuroda, Bubbles and King Dollar When it seems almost impossible, things somehow get even crazier. By Thursday afternoon (thinking ahead to my Friday writing project), I was discerning a backdrop increasingly reminiscent of the summer of 2012. Jumping a quick 50 bps, Greek bond yields traded above 8% on Thursday. Italian bonds and CDS were under pressure, as part of general concerns weighing on Europe’s vulnerable periphery (not to mention that nine Italian banks failed ECB stress tests). It was also apparent that the direction of the yen and stability of yen “carry trades” were crucial to acutely unstable global markets – keys to the “risk on, risk off” speculative market dynamic. A strong yen would be problematic, perhaps even inciting deleveraging of trades in Greek, Portuguese, Italian and Spanish debt. I guess I shouldn’t have been surprised to awaken early Friday morning and see that the Bank of Japan (BoJ) had stunned global markets with an up to 30% boost in its Q.E. “money” printing operation (to $725bn annually!). A couple strategists offered apt quotes: “It was great timing for Kuroda.” “The timing of all this was very clever.” Clever indeed. Predictably, throwing Trillions of “money” at a global Bubble has only exacerbated instability. Throwing Trillions of “money” at dangerously maladjusted global financial and economic “systems” will surely only worsen the addiction. I see Kuroda’s move as further evidence of global central bank desperation. Doug Noland's Friday evening commentary is always a must read for me---and this one is no exception. It was posted on the prudentbear.com Internet site. |
| Japan’s Nikkei 225 Soars to Seven-Year High on BoJ, GPIF Posted: 01 Nov 2014 02:48 AM PDT  Japan's Nikkei 225 Soars to Seven-Year High on BoJ, GPIF Japanese stocks soared, with the Nikkei 225 Stock Average (NKY) closing at a seven-year high, as the Bank of Japan unexpectedly boosted easing and the nation’s pension fund prepared to unveil new asset allocations. The Nikkei 225 jumped 4.8 percent to 16,413.76 at the close in Tokyo, the highest since Nov. 2, 2007. The Topix index surged 4.3 percent to 1,333.64, bringing its gain for the week to 7.4 percent, the most since April 2013. The measure erased its losses for the year and is now up 2.4 percent. Volume on both gauges was more than 75 percent higher than their 30-day averages. The yen tumbled 1.5 percent to 110.83 per dollar. Shares rose in the morning session after a Nikkei newspaper report that the $1.2 trillion Government Pension Investment Fund would announce new portfolio targets today, more than doubling its goal for domestic shares to 25 percent of assets. They surged in the afternoon after BOJ policy makers voted 5-4 to target an 80 trillion yen ($726 billion) annual expansion in the central bank’s monetary base. “Today you’re getting a double boost with talk of the GPIF increasing its shares allocation and the BOJ pumping more cash in at a faster rate,” Shane Oliver, Sydney-based head of investment strategy at AMP Capital Investors Ltd., which manages about $125 billion, said by phone. “It had become increasingly apparent that what the BOJ was doing wasn’t enough and they needed to do more, and it’s always been a question of when they would do that. It’s an excellent outcome.” This Bloomberg article showed up on their website at 12:45 a.m. MDT yesterday---and it's courtesy of reader Howard Wiener. Howard also sent around another Bloomberg story from yesterday---and this one was headlined "U.S. Stocks Rise to Records as Global Equities Rally". It's worth reading. |
| U.S. Mint Silver Eagle Coin Sales Jump to 21-Month High Posted: 01 Nov 2014 02:48 AM PDT U.S. Mint Silver Eagle Coin Sales Jump to 21-Month High Sales of American Eagle silver coins by the U.S. Mint jumped 40 percent in October to the highest in 21 months, defying a slump in New York futures to the lowest in more than four years. Sales surged to 5.79 million ounces, the most since January 2013, the month that set an all-time high at 7.5 million. Today, sales jumped 33 percent in one of the busiest times this year, Tom Jurkowsky, a spokesman at the Washington-based mint, said in an interview. Last month’s total was 4.14 million. Silver and gold futures plunged today to the lowest since 2010 as the dollar rose to a four-year high against a basket of 10 currencies and equities climbed to a record close. The Federal Reserve is weighing the timing of interest-rate increases as other central banks add to stimulus to bolster their economies. “We saw demand surge over the past two days,” Michael Kramer, the president of New York-based MTB Inc., a dealer authorized to purchase coins directly from the mint, said in a telephone interview. “Business was almost triple than what it has been over the past few months.” This Bloomberg story, filed from New York, showed up on their website at 3:48 p.m. MDT yesterday afternoon---and it's courtesy of reader Ken Hurt. |
| Gold Miners Plunge to 12-Year Low as Metal Drops Posted: 01 Nov 2014 02:48 AM PDT Gold Miners Plunge to 12-Year Low as Metal Drops Gold producers including industry leader Barrick Gold Corp. declined to multi-year lows as the precious metal plunged. The 40-company Standard & Poor’s/TSX Global Gold Sector Index fell 4 percent to its lowest level since December 2001. Barrick, the world’s largest producer by sales, dropped 2.6 percent to C$13.39, the lowest closing price since October 1991 in Toronto, where the company is based. Kinross Gold Corp., Canada’s third-largest producer, tumbled 12 percent, while Yamana Gold Inc. declined 10 percent. About a third of gold production is probably money-losing when the price of the metal is less than $1,250 an ounce, Joe Wickwire, who manages the Fidelity Select Gold Portfolio, said in a phone interview last month. This brief gold-related story appeared on the Bloomberg Internet site at 2:35 p.m. Denver time yesterday---and it's also courtesy of Ken Hurt. |
| Paypal cuts off Swiss Gold Initiative donations through Matterhorn Asset Management Posted: 01 Nov 2014 02:48 AM PDT  Paypal cuts off Swiss Gold Initiative donations through Matterhorn Asset Management On Wednesday, October 29, we received an unexpected simple template notification from PayPal that they can no longer receive donations on behalf of Matterhorn Asset Management AG; that they do not take these decisions lightly and that their decision is final which includes any future regular business. Their formal reasons: 1] we are not a registered charity in Switzerland 2] our product is a risk Under Swiss law we are totally in compliance with our effort to raise funds in support of the gold initiative. In fact under Swiss law we are not required to be a registered charity to raise funds for any kind of political challenge and PayPal is aware of this. You know the situation is desperate when the powers-that-be stoop to such measures. This appeared on the goldswitzerland.com Internet site on either Wednesday or Thursday---and I thank Michael Cheverton for bringing it to my attention---and now to yours. |
| Ancient Coins: The Most Famous Coin of Antiquity Posted: 01 Nov 2014 02:48 AM PDT  Ancient Coins: The Most Famous Coin of Antiquity Athens was a great military power in ancient Greece and is considered the birthplace of Western civilization and democracy. After defeating the Persians at the Battle of Marathon in 490 BC, Athens was brought into a golden age. During this period of prosperity, Athens expanded its political and economic influence throughout the Greek world, allowing artistic and intellectual progress to flourish at a rate which has never been matched. Their military and naval strength was aided significantly by their influx of funds from the mining of silver at Laurion, as well as the combined resources from the Delian League, which Athens now led. The quantity of silver controlled by the Athenians allowed them to mint the authoritative coinage of ancient Greece, the thick and heavy Athenian “owl” tetradrachm, which remains the most recognizable ancient coin today. This coin was the largest silver coin of its time, and it popularized the use of a coin’s obverse as the “head” and the reverse as the animal’s “tail”. This very interesting essay appeared on the coinweek.com Internet site last Sunday---and had to wait for a spot in today's column. I thank West Virginia reader Elliot Simon for sending it along. |
| Lawrence Williams: Gold and silver dive yet Chinese demand keeps rising Posted: 01 Nov 2014 02:48 AM PDT  Lawrence Williams: Gold and silver dive yet Chinese demand keeps rising Gold and silver prices have been on a sharp downwards path since the U.S. Fed went ahead and announced the end of Q.E. – helped by some big sales on the futures (paper gold) markets. Kick the gold bugs while they are down seems to be the mantra of the day. Given the end to U.S. Q.E. had been telegraphed months in advance, the latest precious metals price move could have been seen as somewhat surprising – but the big money knows when to strike to its maximum advantage. Gold this morning had been driven back to the $1,170 an ounce level and silver below $16 – the lowest since early 2010. Both were showing a small pick-up at the time of writing. But there are some factors which suggest the latest gold and silver price take down may have been overdone. While Q.E. in the U.S. may be ending, that in Europe may be taking off again. Even in the U.S. the Fed seems wary about allowing interest rates to increase and in Europe they are at rock bottom. But the big anomaly in the gold and silver price decline is again Asian demand. Contrary to many reports Chinese demand, as reported by the Shanghai Gold Exchange (SGE), appears to be taking off again in a big way. I saw Lawrie's latest on the mineweb.com Internet site before I filed Friday's column---and could have included it then, but thought I'd save it for today, because I wasn't sure how many gold-related stories I'd have available for my Saturday column. It's certainly worth reading. |
| Silver Eagle Sales Climb 87% Higher in October Posted: 31 Oct 2014 11:23 PM PDT Silver Eagle sales for the month of October were the highest of the year at 5,790,000. This is up 40% versus September and a whopping 87.5% versus October of last year. With 38 million Silver Eagles sold thus far in 2014, the 2013 record of 42.7 million coins may very well be broken. Investors appear to be taking advantage […] |
| The Lost Gold Mine of Venezuela Posted: 31 Oct 2014 11:21 PM PDT New York Times |
| HUI / Gold Ratio hits lowest level ever recorded (UPDATED with Gold Chart) Posted: 31 Oct 2014 10:30 PM PDT I have been detailing this ratio chart quick often of late as I am of the opinion that the gold shares still lead the price of the metal. My concern for the outright price of gold has been noted as this plunging ratio has been a very good indicator for the future direction of the gold price thus far. Much is made by the same culprits as usual about big sell orders on the Comex, takedown of this, takedown of that, the usual, blah, blah and more blah, as an attempt to buttress the notion that this fall in the price of gold has been orchestrated by the powers that be to discredit the metal. The problem with this theory in this environment is that the MINING SHARES have been LEADING the metal lower. Gold is merely following what the miners have been very effectively signaling now for some time since this ratio began declining. I cannot tell you how disconcerting it is to read the same discredited individuals ( who will not do us all a favor and simply go away) pedaling yet another "special insider claim" that they are privy to the origin of the sellers that "have hit gold with big sell orders eating through all the bids". What else is to be expected when large speculators are entering a market on the sell side or bailing out from off the long side, as their positions grow increasingly underwater? Tiny offers? Small lot sell orders? That is not the nature of today's computer-driven markets and anyone who trades for a living knows this quite well. Those who continually attempt to make some sort of big deal about big sell orders as IF they are coming from the powers that be are nothing but pompous windbags spouting hot air that deludes only the unsuspecting and naïve. Also, are we to assume that some nefarious evil agent has been working over the share of each and every mining company PRIOR to then going in and "taking down the gold price"? If the mining shares lead the way down in gold, then to be consistent with the latest gold perma-bull spin, someone would, by necessity, have had to first orchestrate a takedown of the mining companies that comprise all of the gold stock indices, not to mention have been selling all of that gold that has been withdrawn from GLD. Here is the simple truth - the Dollar has been surging against its competitors; Central Banks have signaled their intention to either keep interest rates low or to provide stimulus or both; and commodity prices in general are falling. In that environment, one in which inflation is not a concern, stocks remain the GO TO asset class. Until that changes, gold is not going to attract sufficient capital flows from serious money managers and hedge funds to keep it levitated. Since the path of least resistance in the metal is therefore lower, that is exactly where it is going. There is no mystery whatsoever to any of this nor is there any conspiracy to force the price lower. Specs simply are not interested in an asset that pays no yield and which requires an overall economic environment in which its price is more likely to head higher. Along this line, take a look at the HUI/Gold ratio chart once again. the only reason I note it once more is because something historic occurred with it today; it hit the lowest recorded level in the history of the HUI.  Again, this is HISTORIC. As such it signals either more losses lie ahead for gold or an abrupt turnaround for the mining shares. Since both the HUI and especially the GDXJ closed near their weekly lows, that does not look too likely at the moment. In closing, let me say this... gold's downside breach of $1180 has as much technical significance as its breach of major chart support near the $1530-$1525 level in April of 2013. That too was a TRIPLE BOTTOM that failed.  Note that gold spent 18-19 months moving sideways in a broad range between roughly $1800 on the top and $1530-$1525 on the bottom. When it broke down below that range at the TRIPLE BOTTOM it proceeded to fall another $345 before bottoming out and forming the base of a new 16-17 month long sideways trade above what proved to be another TRIPLE BOTTOM at $1180 that failed today. The question now becomes will gold do what the pattern calls for, namely eventually leg down somewhere between $300 and $345 before bottoming and carving out yet another base? That could put the metal down as far as $835 - $880 before reaching a new bottom once more. Of course that seems inconceivable to many but back when gold was trading in the range between $1800 and $1525, it seemed inconceivable at that time that it could ever fall as low as below the $1200 level! Please note that this is not a prediction; it is merely an observation based upon an analysis of former price action which extrapolates POTENTIAL. Much of course depends on the overall direction of the US economy and whether or not Central Bank activity proves to be insufficient to deal with the deflationary headwinds buffeting it. One thing that inclines me to not rule out a move this low is that HUI to Gold ratio charted and commented upon above. That is so far off the mean that some sort of reversion seems as if it is necessary to correct it and bring it back more within the norm. As stated before, it can do so either by the mining shares gaining on the price of gold or the price of gold falling faster than the overall price of the shares. One last look at the LONG TERM CHART shows some Fibonacci retracement levels sketched in to provide some shorter term targets if the selling intensifies.  The downside is now open first to near the $1150 level. Failure there targets that $1100-$1090 level..... |
| Gold & Silver Staring into the Abyss: Next Major Support at $1,000 & $9! Posted: 31 Oct 2014 10:15 PM PDT Podcast: Play in new window | Download
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| Gold & Silver Staring into the Abyss: Next Major Support at $1,000 & $9! Posted: 31 Oct 2014 09:45 PM PDT In this week’s MUST LISTEN Metals & Markets, The Doc & Eric Dubin break down the epic take-down in the metals futures markets this week, discussing: With gold’s triple bottom at $1280 breached and silver plunging below its uptrend channel from the 2nd phase of its secular bull market- next major support levels are $1,000 in […] The post Gold & Silver Staring into the Abyss: Next Major Support at $1,000 & $9! appeared first on Silver Doctors. This posting includes an audio/video/photo media file: Download Now |
| Gold And Silver Price Crash Of 2014 Coming? Posted: 31 Oct 2014 03:59 PM PDT Both gold and silver went sharply lower this week, especially yesterday and today. Gold in U.S. Dollars closed the trading session and trading week at 1,172.49, a decline of 2.14% on the day. Silver closed at 16.14 U.S. Dollar, which is 1.53% lower on the day, albeit a spike lower during the trading session to $15.65 for only some minutes. What is happening with the metals? Are the price of gold and silver about to crash to a low of 2014 or has the worst passed? Before trying to answer those questions, it is important to look at the developing activity across markets. The key point is that the drivers for the gold and silver price are mainly two other key assets: the U.S. Dollar and equities. Central banks are driving the financial worldToday, the Japanese central bank (Bank Of Japan, also BOJ) decided to launch a mega-money-printing program. The BoJ aims to increase its monetary base by 80 trillion yen annually, from 60-70 trillion yen previously, and boost the average maturity of JGB purchases 7-10 years. When BoJ Governor Kuroda began his current QQE program, he said Japan would reach 2% inflation in two years. The two-year deadline ends in around five months and inflation is still only halfway to the BoJ's target. There is essentially no chance that the bank will meet this target, even with this new stimulus. Matthew Weller from Forex.com points out that the BOJ stimulus, combined with Wednesday's less-dovish-than-expected statement from the Federal Reserve, today's news creates crystal clear policy divergence between the Fed and the BOJ. “In the US, the Fed ended its third round of quantitative easing by tapering asset purchases by their final $15bn and released a somewhat more hawkish statement than the market was expecting. The bank noted that labor market conditions have improved somewhat, with solid job gains and a lower unemployment rate. The underutilization of labor resources is also gradually diminishing according to the Fed.” As a result, the US dollar was bid on the back of the Fed's statement as US Treasury Bond yields rose and stocks fell. Since then the US dollar has gained even more ground against the struggling euro and yen, while the kiwi and aussie have been able to hold their ground on the back of robust investor sentiment and a slightly risk-on tone in the market. U.S. Dollar strengthAccording to Matthew Weller, the reaction to the Fed's statement is somewhat more severe than one might expect, given that the actual course of monetary policy in the US remains very data dependent. While the Fed noted that the likelihood of inflation running persistently below 2% has diminished somewhat, we are still yet to see a meaningful pickup in consumer price growth. Some of this can be attributed to lower energy prices, but even once food and energy prices are taken out, inflation remains stagnant around 1.7% y/y. EquitiesOne central bank ends QE, another increases it. This is not a trick, but a treat for the markets. The global equity markets found additional buoyancy on Friday after the Bank of Japan surprised the markets overnight by expanding its monetary easing program to about 80 trillion yen a year, up from Y60tn-Y70tn previously. The BoJ will achieve this mainly by increasing its purchases of longer-term Japanese government bonds. The central bank is clearly worried about the impact of the April sales tax hike, the recent fall back in inflation and lower global oil prices. Indeed, the BoJ governor Haruhiko Kuroda himself thinks that the economy is at "a critical moment," pointing out "there was a risk that despite having made steady progress, we could face a delay in eradicating the public's deflation mindset." That's why they increased QE. The markets had already been boosted by the Federal Reserve's promise of keeping interest rates low for an extended period of time. Gold and silverThe net effect of this week’s central banks' decisions has been very bullish for the dollar and also stocks. With these two assets both rallying, investors have found it difficult to justify holding the safe haven gold, an asset which not only costs money to store but pays no interest or dividends. What's more, we have also had mostly positive US macroeconomic data, including the first estimate of third-quarter GDP, which showed the world's largest economy grew by an above-forecast annualized rate of 3.5% in the third quarter. This has lent additional buoyancy to the dollar, causing more pain for buck-denominated assets. As a result of the above-mentioned fundamental factors, gold has broken below the key support area of $1180/5. This breakdown has therefore given rise to follow-up technical selling. Unless gold stages an unlikely sharp reversal here and close Friday's session back above $1180/5, the chances are we will see some significant losses in the near future. If the metal continues to hold below the $1180/5 area then most of the exiting longs will be forced to abandon their positions which would undoubtedly increase the selling pressure even further. Others might even be thinking the unthinkable: "if you can't beat them, join them" and act by reversing their bullish positions. The yellow metal has already reached the 127.2% Fibonacci extension level of the last rally that started at the beginning of this month, at $1163. The 161.8% extension of the same move is at $1138/9. In between these levels is the psychological $1150 mark which could also be a target. Meanwhile the 127.2% extension of a separate move, the short-lived rally from the 2013 low comes is at the psychological $1111.1 level. On top, the gold holdings of the largest gold ETF, the SPDR GLD ETF, shows no signs of accumulation. According to Dan Norcini, in an environment in which most commodities are falling in price, and one in which the Dollar is holding up fairly well, and one in which inflation fears are nowhere in sight, there is not enough Western-based investment interest in the metal to push the price higher. Even with increasing demand from the East there should be no expectation of higher gold prices without an accompanying demand surge in the West; the best the Eastern-based buying can do is to slow the descent of the metal or keep it from plunging even more sharply than it otherwise might have done. It takes hot money flows from the West to generate a bull market in gold, or in any other market for that matter and the simple truth is that those money flows are MIA when it comes to all things gold for the moment.
The most worrisome fact for gold bulls is undoubtedly the collapse of the gold miners in the week which ended on October 31st. The gold mining index GDX closed the week and month on 17.21, some 15% lower than a week ago. Everyone looking at the following chart will agree that the miners do not look constructive at all.
We warned our readers yesterday that capitulation in the precious metals complex is in the air. If capitulation is about to happen, it could bring some relief for gold bulls on the long run, as a wash-out bottom would eventually drive all sellers out of the market. On the other hand, the losses will be huge until the metals and miners bottom. Also, there is no guarantee that a capitulation will not result in a lower trading range. Are we about to experience another crash of the price of gold and silver, as well as miners, comparable to what we have seen in April and June of 2013? We do not exclude it, given the strong trends explained above: rising U.S. Dollar on the back of a sharply declining Yen and rising equities. On the other hand, were equities about to reverse their course because the end of QE would bring uncertainty and volatility, it could well be that the metals (mainly gold) would benefit from new money inflows. It is key to monitor how the gold price will behave around the current price, i.e. $1,180. If it fails to break down significantly for at least 3 consecutive days on the daily chart, or if it manages to stay above $1,180 on the weekly chart, there could be hope for gold bulls that the triple bottom has held. However, odds favor lower gold and silver prices ahead, at least in the short run. |
| Harvey Organ: Manipulators Go ALL IN With EPIC Cartel Raid! Posted: 31 Oct 2014 03:52 PM PDT The manipulators have thrown all their cards on the table. I warned on Wednesday to expect severe cartel intervention over the second half of the week. Let's head immediately to see the major data points for the day: Submitted by Harvey Organ: Gold: $1171.10 down $27.00Silver: $16.07 down 31 cents In the access market 5:15 […] The post Harvey Organ: Manipulators Go ALL IN With EPIC Cartel Raid! appeared first on Silver Doctors. |
| Hedge Funds Feasting on Small Specs in Silver Posted: 31 Oct 2014 02:56 PM PDT If you want to get some sort of idea how the big sharks eat the little fish alive, take a gander at the following Commitments of Traders chart for the silver market. Here is the chart:  The Blue line is the NET POSITION of the hedge funds. The Red line is the net position of the Small Spec or the General Public. The other line is the Commercial category. What have the hedge funds been doing in silver for the last few months? Answer - liquidating longs and adding shorts. In other words, they have been SELLING. What has the general public or the minnows been doing since then. Well, some longs have liquidated so there has been some selling but look at their position. They are still net long in the silver market! What has silver done since the peak in July on this chart? Answer - it has collapsed in price from near $21.50 to today's low near $15.50. That is nearly a 30% LOSS in 4 month's time.  I cannot count the number of emails that hit my inbox from the gold cult members yapping about HIGH OPEN INTEREST in silver as if somehow that is yet one more reason to be long the precious metals. When pointing out to them that the interest is both from increasing numbers of spreads, and from speculators interested in SELLING THE METAL, I am usually greeted with derision and condescending rebuttals as if somehow I am ill-equipped to understand the esoteric secrets of the strange universe that they are privileged to inhabit. Some love to argue even more throwing around such insightful comments as, "Mr. billionaire fund manager asserts with great confidence that sometime this year, silver goes north of $50" as if somehow that settles the matter. And yet, look at the chart. What does it tell you? Answer, a long silver position has butchered those who were foolish enough to think that they knew more than the market especially Mr. billionaire fund manager who is now probably Mr. millionaire fund manager. The thing about this which is even more tragic, is the sheer size and extent of the losses that this erratic metal can inflict on the account of anyone who gets on its wrong side. A $1.00 move in silver is $5,000 per single contract. Do the math and you get the idea how much money the hedge funds took out of the pockets of the inept general public who continue to listen to the siren-songs of those self-proclaimed market experts who keep pushing them to buy it in spite of the obvious. Now, this late session bounce in silver is interesting as it indicates some decent buying came in late, very late, in the session but in looking over at the mining share indices, they stink, having barely managing any sort of significant closing bounce heading into the weekend. That today was also the end of the month, a day on which one can expect to see a great many big price swings and a day on which some funds tend to realize some paper gains for the sake of their monthly statements, and the fact that those mining indices closed so poorly, one has to be skeptical that the bounce higher in this metal signifies the end of the downtrend. It could very well just sit down here for a while and move sideways while it consolidates its severe losses from this week. I will be watching closely next week to see what kind of follow through to the upside, if any, we might get. The ability to push back above $16.00 is constructive but we will know whether or not it has any staying power early next week. Until then, the general public remains LONG and WRONG and is serving as fodder for the hedge fund bears who are mercilessly goring them to no end. A lot of would-be trading careers from the small public were ended this week by the devastation suffered at the hands of this most fickle of metals. |
| A Silver Nanoparticle Problem that Nobody Knew About is Solved Posted: 31 Oct 2014 02:30 PM PDT It turns out that silver nanoparticles are not as solid as initially thought, making their use in electronic components and circuits a bit challenging as gadgets become increasingly smaller. Fortunately, there is a solution. Because of its superb electrical conductivity and high melting temperature, silver is used in many aspects of electronic design. Recently, however, scientists have discovered that as the particles become microscopically smaller – in the 10 nanometer range – their outside layer mimics water droplets, wobbling and changing shape, while the inside stays stable. This can be problematic for their use in electrical contacts at the molecular level (10 nanometers is one-thousandth of the width of a human hair) as the silver could leak and cause short circuits. This could be especially challenging in devices that move around a lot or rely on movement like tiny motors or sensors in mobile applications. A research team at MIT first noticed this phenomenon while studying silver nanoparticles but they believe it will apply to other metal nanoparticles as well. MIT professor Ju Li notes that the use of nanoparticles in applications ranging from electronics to pharmaceuticals is a crucial area of research at the moment: "These researchers want to form shapes, and they want these shapes to be stable, in many cases over a period of years. If gold or silver nanoparticles are used in electronic circuits, these deformations could quickly cause electrical connections to fail." Once Li and his team began delving into this behavior, they saw that only the top layers – one or two atoms thick – actually moved. As they moved, they deposited themselves elsewhere on the surface. However, the inside atoms remained solid and in perfect shape. Scientists had theorized that this surface movement was happening but this is the first time it has been confirmed. Now that this movement has been observed and understood, the solution to allowing nanoparticles to retain their shapes turns out to be rather simple. When a thin layer of oxide is applied, the liquid-like movement is almost completely eliminated and the nanoparticle remains stable, ensuring that silver will remain a solid choice for nanotechnology applications.
Source: The Silver Institute (subscribe to the newsletter)
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| Implications Of Greenspan’s Latest Talk for Gold Investors Posted: 31 Oct 2014 02:01 PM PDT By Henry Bonner from Sprott Money: I traveled last week to the New Orleans Investment Conference, previously known as the 'Gold Show.' Jim Blanchard, a man known for promoting the right to own gold during the Nixon era, started the conference in 1974. Early on, the conference was a gathering place for investors in precious metals. Speakers such as Rick Rule broke out into the investment scene through conferences like this one. I'll report later on the many speakers who attended the conference – and try to boil down some of the salient points from the highly valuable conference (attendees took nearly a week away from their regular lives to attend). For now, I'll confine myself to the headline speaker of the show – former Fed Chairman Alan Greenspan – and what his comments could mean for gold investors. Greenspan ran the Fed from 1987 to 2006. He ran it right through the great technology bubble in the late 90's and up to the housing bubble. He is widely accused of voluntarily inflating these asset bubbles through excessive money printing and 'easy money.' He's also viewed as a big-government sell-out because he began his career as an adherent to the economic philosophy of Ayn Rand, with minimal government interference, and, relevant to his role as director of the Fed, sound money. So what happened to the young ideologue that Greenspan had been? Did power corrupt him? Did he fold under pressure to run the printing presses, debasing the currency and propping up the government? And why come to this conference? Why submit to being trotted out and publicly accused of his crimes for all to see? At least that's what we imagined would happen during his main panel alongside Marc Faber, and Porter Stansberry (of Stansberry & Associates). Well, it wasn't quite the public flogging we'd expected. As Rick Rule joked later on, 'the man's been through congressional hearings; I think he can handle us.' We did, though, learn a few important things about the Fed. First off, Greenspan claims he has always remained true to Austrian economics and the principle of sound money. He fell into his role as Fed Chairman purely by accident, he claimed, and what he did there, he did it because he had to. He explained that the capital needs of the Federal government were so massive that the only way to prevent disaster for the rest of the economy was to keep feeding the beast with cheap money. If the Fed hadn't created and circulated new money, the Treasury's insatiable demand for capital would certainly have 'crowded out' the rest of the economy, wrecking the entire private credit system. Political realities, he explained, in the form of entitlement spending and off-balance sheet obligations of the US government, trump the need for sound money every time. It wasn't his fault – that's just how the system works. It's set up to redistribute income from savers, who lose income because of low interest rates, to spenders. In other words, Greenspan was a man who was forced by circumstance to go against his beliefs. Coming to the show, I had expected to disagree with Greenspan, but what I found was that the Fed Chairman was saying exactly what we have believed all along. Sound, stable currency is incompatible with the welfare state. Greenspan may have slipped away from the path, but he's a great spokesperson for our message. The Fed is unlike any other business in the world. It's the only one that we know of that literally creates 'something from nothing.' The Fed wills new currency into existence, which it can then 'sell' by charging interest. Every dollar comes into existence as a debt due to the Fed; the more dollars are out there, the more money the Fed makes. The interest it receives is 'pure profit.' So it's no surprise that as the government's demand for capital has increased, the Fed has 'accommodated' that demand. Even if the Fed has to lend the government the money to pay its interest, that new money costs nothing to create, and it adds to the bottom line. We did get one striking admission out of Greenspan. The Fed is not independent of the government, he said, calling suggestions to the contrary 'naïve.' Greenspan didn't speak much to role of the Fed. He didn't talk about inflation targets, or comment on how the Fed could help grow the economy, as he would have if it had been a New York Times interview I'm sure. Hidden in his answers, however, was a big prediction for how the Fed will likely act in the future. It's not about juicing the economy or keeping the currency stable, although those are certainly justifications that are used. The truth is, the Fed is merely adjusting supply to meet demand. That's what he meant when he said that the Fed had to increase the supply of debt to avoid the private sector being 'crowded out' of the market. Its mission isn't to keep the currency stable, it's to help fund the spending of the US government, and to defend the banking system. This suggests that as long the US government resort to high levels of debt, the Fed isn't likely to decrease the supply of money. Greenspan might have an inkling of something he's not telling. Here's what the former Fed Chairman had to say about the direction of gold and interest rates: "Gold – measurably higher. Interest rates – measurably higher." The Fed isn't just dangerous because it serves the banking system; it also has another fatal flaw – hubris. In late 2013, Greenspan wrote in Foreign Affairs that he hadn't seen the financial crisis coming because the economy hadn't conformed to the Fed's models:
The problem with this kind of thinking – that a mathematical model should be capable of predicting human behaviors in the markets – is exactly what went wrong with Long-Term Capital Management (LTCM) in the 1990's. LTCM was a hedge fund management firm which deduced that there was only an infinitesimal chance of a serious crash in the stock market. It also claimed that the odds of correction were knowable, and could be hedged against. A few years later, in 1998, the market experienced an unforeseen crash, and LTCM went bankrupt. Now the Fed has a new set of number crunchers, and a new, activist, leader. The Fed's going full throttle, pushing ahead with low interest rates and easy money. It also has a brand new set of mathematical models. Are they now more humble about their ability to predict the future? Are they looking for the market to tell them what's working, or are they favoring the theory? In the years since the stimulus has been launched, spending has been muted while housing, stocks, and bonds have increased in value. Average incomes are stagnant or lower. Nearly all economic gains have been accrued to 'rich people' in the form of asset inflation. Yet in a recent interview with Time magazine, Yellen's view – that stimulus doesn't just help rich people, but that it lifts the whole economy remained unchanged: You know, a lot of people say this (asset buying) is just helping rich people. But it's not true. Our policy is aimed at holding down long-term interest rates, which supports the recovery by encouraging spending. In other words, the way the Fed models the economy has been wrong before; it will likely be wrong again. P.S.: Not yet a Sprott's Thoughts subscriber? Sign up here and get your free electronic copy of the Sprott Gold Book. |
| Marshall Swing on Coming Collapse: TPTB Want it (Gold & Silver) All! Posted: 31 Oct 2014 01:30 PM PDT We are in a bottom for sure. How long will it last is anybody's guess- but silver stackers need not worry. This is only a question of how much fiat can you raise in order to purchase hard core, hold in your hands bullion to hold for a couple of years through the greatest worldwide total […] The post Marshall Swing on Coming Collapse: TPTB Want it (Gold & Silver) All! appeared first on Silver Doctors. |
| Harvey Organ: HUGE Raid On Gold & Silver! Posted: 31 Oct 2014 01:29 PM PDT As promised to you, the crooked bankers continue with their criminal ways with a MASSIVE RAID on gold and silver on the week of options expiry. Let's head immediately to see the major data points for today: Submitted by Harvey Organ: Gold: $1198.10 down $26.20Silver: $16.39 down 83 cents In the access market 5:15 pm: Gold $1199.00silver […] The post Harvey Organ: HUGE Raid On Gold & Silver! appeared first on Silver Doctors. |
| US Now Importing the World’s Deflation Posted: 31 Oct 2014 01:16 PM PDT With US QE about to end, the rest of the world faced the prospect of another “taper tantrum” financial crisis, one that this time around could suck the US into expanding Japanese and European deflationary vortices. In which case it’s game over for the current market manipulation freak show. So it should come as no surprise that the end of QE was countered with a series of offsetting treats for the global financial markets: • The US Fed promised to keep interest rates low for a really long time. • The European Central Bank announced that in November it would start buying asset backed bonds, in effect beginning an open-ended, potentially huge debt monetization program of its own. • Japan’s version of Social Security is massively increasing its equity purchases:
And last but definitely not least:
The equity markets loved all this, of course. Japan’s Nikkei index rose an amazing 4.83% on Friday. The S&P 500 is up about 3% on the week and most emerging markets are soaring. From the point of view of bureaucrats attempting manipulating formerly-free markets, this is a ringing success. Unfortunately, like most attempts to mess with the laws of nature, it contains the seeds of its own demise. First and foremost, the end of QE in the US coupled with a ramp-up of bond buying in Europe and Japan has had the logical effect on the dollar: A surging currency is functionally the same thing as rising interest rates in that it tends to cut corporate profits while making debt harder to manage for pretty much everyone. So it’s good for savers (who see the value of their savings rise) and bad for borrowers, both individual and governmental. And that — more onerous debts and plunging corporate profits — is what the US is looking at in 2015. This is coming at a really bad time for some crucial parts of the economy. Housing, for instance, is looking like the end rather than the beginning of a recovery, with mortgage purchase applications at 19-year lows (chart courtesy of Zero Hedge): The upshot: As good as things feel right now in the stock and bond markets, they’ll feel that bad or worse when it dawns on the leveraged speculating community that the rest of the world is exporting their deflation to America. |
| Cartel Hits SDBullion With DDoS Attack During Epic Price Smash Posted: 31 Oct 2014 12:23 PM PDT It appears that TPTB do not wish to allow retail investors to take advantage of today’s historic gold and silver take-down as gold has been smashed to new lows of $1160 breaking through the triple bottom at $1180, with silver plunging to $15.61, as the cartel hit SDBullion with a DDoS attack precisely as gold […] The post Cartel Hits SDBullion With DDoS Attack During Epic Price Smash appeared first on Silver Doctors. |
| Here's the "secret" to a free college education Posted: 31 Oct 2014 11:20 AM PDT From Mike “Mish” Shedlock at Global Economic Trend Analysis: On June 7, 2014 I wrote Looking to Drastically Reduce College Costs? Study Abroad! Yesterday, a writer for the Washington Post expressed the same opinion. Please consider 7 countries where Americans can study at universities, in English, for free (or almost free). Since 1985, U.S. college costs have surged by about 500 percent, and tuition fees keep rising. In Germany, they’ve done the opposite. The country’s universities have been tuition-free since the beginning of October, when Lower Saxony became the last state to scrap the fees. Tuition rates were always low in Germany, but now the German government fully funds the education of its citizens — and even of foreigners. What might interest potential university students in the United States is that Germany offers some programs in English — and it’s not the only country. Let’s take a look at the surprising — and very cheap — alternatives to pricey American college degrees. Germany Americans can earn a German undergraduate or graduate degree without speaking a word of German and without having to pay a single dollar of tuition fees: About 900 undergraduate or graduate degrees are offered exclusively in English, with courses ranging from engineering to social sciences. Finland This northern European country charges no tuition fees, and it offers a large number of university programs in English. However, the Finnish government amiably reminds interested foreigners that they “are expected to independently cover all everyday living expenses.” In other words: Finland will finance your education, but not your afternoon coffee break. France There are at least 76 English-language undergraduate programs in France, but many are offered by private universities and are expensive. Many more graduate-level courses, however, are designed for English-speaking students, and one out of every three French doctoral degrees is awarded to a foreign student. “It is no longer needed to be fluent in French to study in France,” according to the government agency Campus France. Sweden This Scandinavian country is among the world’s wealthiest, and its beautiful landscape beckons. It also offers some of the world’s most cost-efficient college degrees. More than 300 listed programs in 35 universities are taught in English. However, only Ph.D programs are tuition-free. Norway Norwegian universities do not charge tuition fees for international students. The Norwegian higher education system is similar to the one in the United States: Class sizes are small and professors are easily approachable. Many Norwegian universities offer programs taught in English. Slovenia About 150 English programs are available, and foreign nationals only pay an insignificant registration fee when they enroll. Brazil Some Brazilian courses are taught in English, and state universities charge only minor registration fees. Times Higher Education ranks two Brazilian universities among the world’s top 400: the University of Sao Paulo and the State University of Campinas. However, Brazil might be better suited for exchange students seeking a cultural experience rather than a degree. That excellent information (more in the above link) is from Washington Post foreign affairs writer Rick Noack. I believe it’s near-crazy to pay $30,000 (or far more) in the U.S. for what can be had in Europe for free. Eventually costs will crash in the U.S. for the simple reason, they must. Online education ensures that outcome. For details, please see Future of Education is At Hand: Online, Accredited, Affordable, Useful Here’s my more recent followup post: Teaching Revolution: Online, Accredited, Free; Start Learning Now!       |
| These incredible results could change the way you think about investing forever Posted: 31 Oct 2014 07:35 AM PDT From Dr. Steve Sjuggerud, editor, True Wealth Systems: Our company just performed an internal “audit” of our track records… I didn’t know what the results would be. After hundreds of hours invested, the audit team at Stansberry Research announced the results… Two things stand out:
I am proud of our performance so far… The overall result is excellent. What is more interesting to me is how we got there. These two little facts tell the story:
That is how you make money. What this shows is this: You don’t need to be right 100% of the time, or even 80% of the time… What you need to do is simple: You need to make your winners bigger than your losers. “Winning percentage” is not an important number to me… The important number is the dollar value on your portfolio statement. Is your portfolio value going up? A lot? Then good! If your portfolio value is up – by a lot – then should it matter to you how you got there? What if you only “got it right” one out of three times? It shouldn’t matter. I am happy being WRONG two out of three times – if my typical winner is 43.7% and my typical loser is negative 6.8%. I will take those “loser” odds any day. So how do you end up with 43.7%-gain winners and 6.8%-loss losers? The most important thing you do is you cut your losses early. You use trailing stops. Also, you let your winners run. Most individual investors that I know do exactly the opposite of this… They let their small losses turn into bigger ones, by waiting for them to recover. Also, most investors take a small profit, never letting their winners fully bloom. Right now, in True Wealth Systems, we are sitting on a 270% profit in a position we recommended in 2012. Are you willing to continue holding a position that you have a 270% profit in? If not, you need to change your mindset… Here’s the correct mindset: I am willing to concede many small battles… to win the war. This isn’t war… this is investing. You NEED to be willing to have some casualties, in order to grow your portfolio. You need to be willing to admit you might be wrong – probably more than half the time – in order to make the most money. This is not rocket science. It’s basic math. If your losers are small, and your winners are big, you will do well. And you can do well even if you have twice as many losers as winners. So please, change your mindset. Don’t think you have to be right every time. Think about keeping your losers small, and allowing your winners to soar. Then, maybe, you can end up with a compound annual gain of 27%-plus, like we achieved (through 2013, according to our audit) in True Wealth Systems. P.S. The success we’ve had in True Wealth Systems isn’t just about cutting losses and letting winners run. It’s also about the complex computer systems we spent nearly $1 million building with the help of my friend and colleague Dr. Richard Smith. On top of that, we’ve found a new and exciting way to invest in the markets. Find out for yourself right here.    |
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