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“Whenever destroyers appear among men, they start by destroying money, for money is men’s protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values.” – Atlas … Continue reading
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China Warns About The Dollar (I know a lot of you saw this article already, but I am compelled to add my 2 cents, especially since the reader who has incessantly busted my stones over my bearish dollar call has disappeared) When China speaks, the U.S. should listen: Any appreciation of the dollar is “really … Continue reading
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AngloGold Ashanit (AU) announced this morning that it will raise $1.2 billion, which will be used in conjunction with cash on…..
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I decided to check in with the chart of the US Dollar index this morning. When the dollar bounced from a rediculously oversold “technical” condition in early August…..
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Does anyone really believe that? Does Banana (Republic) Ben Bernanke really believe that? If Bernanke truly believes that there is no inflation in the system, then he is a complete idiot. If he understands the truth but continues to pontificate about no inflation, then he is a psychopathic serial liar. In either instance he should … Continue reading
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From today’s JB report found in the Midas’ commentary at http://www.lemetropolecafe.com/: Reuters has a colorful story datelined Singapore today: “The market is very hot. There’s plenty of physical demand and I can’t meet the orders. It’s from India, Indonesia and Thailand,” said a physical dealer in Singapore. “Basically we are seeing buying from jewellers and … Continue reading
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Dennis Gartman was on CNBC yesterday explaining with his unique brand of arrogant stupidity that the trend in gold has changed (to down). Contrary to DG’s ignorance, I’ve been telling colleagues that the current period of time is strikingly similar to the period from July/Aug 2005 to May 2006, when gold staged a 35% move … Continue reading
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The July silver open interest increased by 31 contracts on Friday. Those people wouldn’t be buying unless they intended to take delivery AND they couldn’t buy unless their account was funded for the amount needed to take delivery. I don’t scrutinize the o/i like this every month, but I have never noticed open interest increasing in … Continue reading
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From UBS on Friday: “Physical demand picked up Friday in the wake of gold’s test below $1200, with our sales to India the largest recorded since early January.” Tulving and Company – one of the largest coin dealers in the country – announced on its website that it had its busiest day ever last Thursday. … Continue reading
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…or a massive cut-back in essential public services and widespread hunger: Illinois Stops Paying Its Bills, but Can’t Stop Digging Hole “For the last few years, California stood more or less unchallenged as a symbol of the fiscal collapse of states during the recession. Now Illinois has shouldered to the fore, as its dysfunctional political … Continue reading
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By one historically accurate contrary sentiment metric, the gold market is poised to stage a surprising move higher soon. From the Hulbert Gold Sentiment Newsletter Index: over the three decades I’ve been tracking investment newsletters, the gold market has — on average — adhered to the contrarian pattern. That is, bullion has turned in far … Continue reading
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Gold is in a long term bull market. As such, all sell-offs, price pullbacks, secular price corrections and overt, illegal manipulative price attacks, like Thursday’s, are to be bought – aggressively. Feel free to take profits on part of your positions on big price rallies only if you have mining shares or paper surrogates (GLD, … Continue reading
