Monday, January 31, 2011
Wednesday, January 26, 2011
World Gold Council Q4 Gold Digest | zero hedge
World Gold Council Q4 Gold Digest | zero hedge
Gold price volatility at 16% on an annualised basis in 2010 remained consistent with its long-term trend. By comparison, volatility on the S&P Goldman Sachs Commodity Index was 21% during the year, based on daily returns.
Tuesday, January 25, 2011
J.P. Morgan and the Great Silver Caper
J.P. Morgan and the Great Silver Caper
Read more: J.P. Morgan and the Great Silver Caper http://dailyreckoning.com/j-p-morgan-and-the-great-silver-caper/#ixzz1C5sdETiX
Based on some of the latest conjecture, Morgan’s short position totals a whopping 3.3 billion ounces. If, therefore, the buzz about J.P. Morgan and silver is even half true, the prestigious investment bank could be cruisin’ for bruisin’.
For perspective, 3.3 billion ounces is roughly equal to:
1) One third of all the world’s known silver deposits;
2) Two times the world’s approximate stockpiles of silver bullion;
3) Four times the annual mined supply of silver;
4) 30 times the inventory of silver at the COMEX.
Read more: J.P. Morgan and the Great Silver Caper http://dailyreckoning.com/j-p-morgan-and-the-great-silver-caper/#ixzz1C5sdETiX
Monday, January 24, 2011
My Blog
Agnico Eagle CEO Sean Boyd - $2,000 Gold This Year
With gold and silver near recent lows, King World News today interview Sean Boyd, Vice Chairman and CEO of Agnico Eagle which boasts a $15 billion market cap. When asked about the action in gold and silver Boyd stated,“Investors are gaining more confidence not just in the economy, but in the world’s financial condition. I think that that confidence is misplaced. I think what you’ve got is a relatively modest pullback in gold and silver, and over the last ten years anyone who has stepped up and bought has done incredibly well.
“As you and Jim Rickards covered in your interview, if you are talking about the proposed creation of $100 trillion of new credit it is not fixing the problem, it is delaying it. We see continued uncertainty, it’s easy to propose a massive bailout that doesn’t really deal with the underlying issues, this would just defer the problem.
I think investors have to take a step back and look at the big picture. We had the love affair in paper in the late 90’s and ever since that ended we have seen a move to hard assets. Right now we are just seeing investors and funds trading around positions inside this continued consolidation in gold and silver. We have seen this so many times in the last 5 or 10 years.
Some have been taking profits in both metals, but particularly in silver you may be seeing some miners doing some forward hedging. We don’t do that, but you might have been seeing some byproduct selling and some hedge fund selling in silver at the $30 level which accounted for the strong resistance in that area.
When $1,400 falls we will really begin to see the next leg higher in gold. At that point $2,000 is very much in the cards within the next twelve months and during that run silver could very well double in price, so it should outperform.
Saturday, January 22, 2011
Wednesday, January 19, 2011
Friday, January 14, 2011
Gwynne Dyer : Riots spread as global food shortage worsens - Agriculture - NZ Herald News
Gwynne Dyer : Riots spread as global food shortage worsens - Agriculture - NZ Herald News
"We are entering a danger territory," said Abdolreza Abbassian, chief economist at the Food and Agriculture Organisation.
"When food prices soar, these people quickly find that they simply lack the money to go on feeding themselves and their children properly - and food prices now are at an all-time high."
"There is still room for prices to go up much higher"
S&P Melt Up Price Momentum: A Once In Never Event | zero hedge
S&P Melt Up Price Momentum: A Once In Never Event | zero hedge
"while as part of the recent surge in the S&P, the market has gone for "92 days without closing below its 50-day average, which has been matched only 17 other times since 1928." Where it gets scary, is that as pointed out, during this time the market has not closed below the 10 DMA once during the past 30 days."
"while as part of the recent surge in the S&P, the market has gone for "92 days without closing below its 50-day average, which has been matched only 17 other times since 1928." Where it gets scary, is that as pointed out, during this time the market has not closed below the 10 DMA once during the past 30 days."
...this has never happened before, in 82 years of history
Thursday, January 13, 2011
The Golden Truth: The Dragon Is Hungry For Gold - Demand Outpaces Supply In China
The Golden Truth: The Dragon Is Hungry For Gold - Demand Outpaces Supply In China
Premiums for gold bars jumped to their highest in two years on Tuesday as worries about inflation drove investors in China, the second-largest consumer of the precious metal after India, to bullion ahead of the Lunar New Year..."There's a sudden surge in demand. Demand from China is very good and they are paying very high premiums. Refiners can't meet the demand," said a dealer in Singapore.
US Mint Sales: 2011 Bullion Eagles Off to the Races | Coin News
US Mint Sales: 2011 Bullion Eagles Off to the Races | Coin News
...in just the first week of January, the US Mint had sold 2,221,000 ounces of silver "a number which if run-rated would be an absolutely all time monthly record,"
A quick glance at the tally today, shows that something very scary is going on. In the subsequent three days,the number has surged by 50% and has hit 3,407,000 ounces of silver! In just the first 12 days of the month we have already surpassed the total monthly sales of 9 separate months of 2010.
2010 Silver Sales Totals
(in ounces / number of coins)
Month
( oz. / #coins )
January 3,592,500
February 2,050,000
March 3,381,000
April 2,507,500
May 3,636,500
June 3,001,000
July 2,981,000
August 2,451,000
September 1,880,000
October 3,150,000
November 4,260,000
December 1,772,000
Total 34,662,500
2010 Silver Sales Totals
(in ounces / number of coins)
Month
( oz. / #coins )
January 3,592,500
February 2,050,000
March 3,381,000
April 2,507,500
May 3,636,500
June 3,001,000
July 2,981,000
August 2,451,000
September 1,880,000
October 3,150,000
November 4,260,000
December 1,772,000
Total 34,662,500
Grain Prices Soar as U.S. Slashes Outlook - WSJ.com
Grain Prices Soar as U.S. Slashes Outlook - WSJ.com
Prices of corn and soybeans leapt 4% Wednesday and wheat gained 1%, continuing the broad rally in commodity prices that began in June. With yesterday's gains, prices of corn futures contracts are now up 94% from their June lows; soybeans are up 51% and wheat is up 80%.
Tigris Financial Goes All-In on Gold - WSJ.com
Tigris Financial Goes All-In on Gold - WSJ.com
"I've reached a point where I feel the only asset I have confidence in is gold," Mr. Kaplan said in an interview at Tigris's midtown Manhattan headquarters.
![[Kaplan]](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_tI1p7ELYuNMXhTWBndnP9GO4NTDQkAQEwVL-xFm6uRB0Btw2vdsWk8tw_uy0QtLQF5cxZEZsdrri4UFl1ZipvjWI3Cyo4yLLyexsr6yE2_sGhSa3CLarBvTNsKuKxqEjDbQoLrMyLLB6qpdHVqM-Zn2Ck=s0-d)
And, he added, he isn't in a rush to cash in on his gold investments. "If I am right about the big picture," he said, "I will be rewarded for my patience."
And, he added, he isn't in a rush to cash in on his gold investments. "If I am right about the big picture," he said, "I will be rewarded for my patience."
UN Food Price Index tops records dating to '90 - Bloomberg
UN Food Price Index tops records dating to '90 - Bloomberg
Global food prices in December were the highest on records dating to 1990
Wednesday, January 12, 2011
The Global Commodity Equity Index Hits 27 Month High | zero hedge
The Global Commodity Equity Index Hits 27 Month High | zero hedge
Where's the deflation they're printing trillions in order to save us from?
Gold: The Improbable Answer to Life, The Universe, And Everything - Seeking Alpha
Gold: The Improbable Answer to Life, The Universe, And Everything - Seeking Alpha
"Alright," said the computer and settled into silence again. The two men fidgeted. The tension was unbearable.
"You're really not going to like it," observed Deep Thought.
"Tell us!"
"Alright," said Deep Thought. "The Answer to the Great Question..."
"Yes...!"
"Of Life, the Universe and Everything..." said Deep Thought.
"Yes...!"
"Is..." said Deep Thought, and paused.
"Yes...!"
"Is..."
"Yes...!!!...?"
"Forty-two," said Deep Thought, with infinite majesty and calm.
-- "The Hitchhiker's Guide to the Galaxy," Douglas Adams
"You're really not going to like it," observed Deep Thought.
"Tell us!"
"Alright," said Deep Thought. "The Answer to the Great Question..."
"Yes...!"
"Of Life, the Universe and Everything..." said Deep Thought.
"Yes...!"
"Is..." said Deep Thought, and paused.
"Yes...!"
"Is..."
"Yes...!!!...?"
"Forty-two," said Deep Thought, with infinite majesty and calm.
-- "The Hitchhiker's Guide to the Galaxy," Douglas Adams
Fed Officials Signal Intent to Back Bond Buys - WSJ.com
Fed Officials Signal Intent to Back Bond Buys - WSJ.com
"I wish we hadn't done it, but that doesn't mean I want to stop it right now," - Plosser
Tuesday, January 11, 2011
'Not Owning Gold is a Form of Insanity': Chartist - CNBC
'Not Owning Gold is a Form of Insanity': Chartist - CNBC
Continuing to own a currency that is going to be printed virtually into oblivion … is crazy!
Monday, January 10, 2011
A quote from the latest issue of The Privateer
A quote from the latest issue of The Privateer
Sovereign Debt Can NEVER Be Repaid
Wherever you live in the world, you are pushing a huge rock uphill. You and I live in a world whose money, markets and financial system is TOTALLY dependent on the debt issued by government. In any form of rational economic definition, a debt is a deferred and therefore an UNFINISHED transaction. It cannot be completed until the principal plus interest incurred in its issuance have been repaid in full - and in money which retains the purchasing power of that which was borrowed to incur the debt.
No government debt has ever been or can ever be repaid in full. This is especially the case when a government imposes a monopoly on what can be used as money by passing and enforcing “legal tender” laws. The US did this with the introduction of the Fed in 1913. Eventual default becomes an absolute certainty when government makes its own debt paper the ONLY “reserve” behind the “money” it alone can create. The US did this under President Nixon in 1971. The whole world went along with it because the US Dollar was the reserve currency and no government or people anywhere dared jettison it.
The result is the global financial quagmire we see everywhere we look.
If there is going to be any progress towards a REAL solution to this mess, a necessary step is the recognition that governments MUST live within their means. Any social entity which must monopolise the use of force as a pre-requisite for its existence CANNOT be allowed to use that force to augment its power. That is what government debt always does, until the day comes when it collapses in ruins.
Dollar to Become World's `Weakest Currency,' Drop to 75 Yen JPMorgan Says - Bloomberg
Dollar to Become World's `Weakest Currency,' Drop to 75 Yen JPMorgan Says - Bloomberg
If Bloomberg is right, the dollar has to drop almost 10%
YouTube - Stock market plunge sparks violent protests in Bangladesh
YouTube - Stock market plunge sparks violent protests in Bangladesh
Bangladesh suspended trading at its main stock exchange in the capital Dhaka on Monday, and security officials used batons to disperse thousands of angry investors upset over a market plunge. After the protesters began gathering on Monday morning, authorities used batons to try to break up the crowds, according to police officials. But protesters continued to demonstrate at several busy intersections in Dhaka's Motijheel commercial district, where the stock exchange is located, smashing vehicles, burning tyres and chanting anti-government slogans.
» Hedge Funds Exceed $1.65 trillion in 2010 » Hedge Fund News From HedgeCo.Net Hedge Fund News
» Hedge Funds Exceed $1.65 trillion in 2010 » Hedge Fund News From HedgeCo.Net Hedge Fund News
* December was the 6th consecutive month of back-to-back positive returns for hedge funds.
NOT TO MENTION.........Six months of back-to-back POMO and dollar losses.
Gold vs everything else
RELATIVE PERFORMANCE
Over the past ten years, gold has outperformed the next best asset class by a factor of just over two. Its outperformance against equities has been consistent over past one, three, five and ten years and for that matter gold has also been the least volatile asset class.
Its correlation with equities has remained zero or modestly negative, giving strong portfolio diversification. On an average monthly return basis gold tends to outperform when equities perform poorly.
---relative performance of different sterling based asset classes in each year from 2002 onwards and also showed that over the past ten years gold’s annual return has been 14.3% in sterling terms, compared with 5.9% pa from bonds, 1.6% in cash and just 1.2% in real estate. Equity returns were negative.
Wednesday, January 5, 2011
Kansas City Federal Reserve President Thomas Hoenig
http://abcnews.go.com/Business/wireStory?id=12547488
Fed Prez talking up gold? Is he allowed to say that?
Fed Prez talking up gold? Is he allowed to say that?
New Toy
Welcome to blogging!
There is so much information about what's going on in the precious metals markets that I started this thing just to be able to post all the articles and info I come across.
Enjoy!
There is so much information about what's going on in the precious metals markets that I started this thing just to be able to post all the articles and info I come across.
Enjoy!
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