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The truth is incontrovertible: malice may attack it, ignorance may deride it, but in the end, there it is.   Winston S. Churchill Retail sales plunged 1.2% for the month of May, which came as a complete surprise to the herd of cattle on Wall Street’s cattle ranch, which was looking for more gains. We also … Continue reading

Gold videos from this week….

In addition to the EUR data in today’s CFTC Commitment of Traders report, another data point that caught our eye is the record exposure in outright commercial shorts in gold: this week they hit an all time high of 450,950. It appears that….

Over the past month, gold has quietly become the only true flight to safety. Forget the dollar: the dollar is “safe” just as long as Bernanke does not decide to pull a Sunday night comparable to what the ECB did last night and strangle the greenback with one press release: frankly it is just not … Continue reading

Bryan Rich

In my December 26 Money and Markets column I focused on the outlook for 2010, and the looming threats to global risk appetite. I warned that sovereign debt problems posed a major threat to global economic recovery. And I concluded that this threat represented a catalyst for a return of global risk aversion…..

MGIC is the largest U.S. mortgage insurer – outside of the U.S. Government, of course. They released horrible results, forecast massive future losses, and will issue $700 million of new stock on top of $300 million in junk bonds. Perhaps – with much emphasis on that modifier – there might be asset coverage for the … Continue reading

In the event of a full-blown sovereign debt crisis, hard assets will become deeply desirable as one of the few “stores of value” left….

I congratulate GATA and applaud whistleblowers for taking risk to life and career to expose the market manipulation in precious metals. It exists. It is not a tinfoil hat thing, it is reality. However, it is important to not lose sight of the longer term and in the longer term, manipulation doesn’t work. Gold will … Continue reading

….Below are three charts (Dollar, Gold and Silver) showing what I think is most likely to happen in the coming week or two….

…Interestingly, the best value is now at the very bottom of the food chain. Some people call these the crap juniors or the garbage juniors. I refer to them as the lower tier juniors…

Great post from “Gordon Gekko” at Zero Hedge….

Investors have long speculated China will start buying gold and selling its hoard of U.S. dollars at some point. (China’s hoard could be literally trillions of U.S. dollars.) It would be the first step in a “Doomsday” scenario…