Robert Cohen, manager of the Dynamic Gold and Precious Metals Fund, talks about investing in gold in an era of QE∞.
BrotherJohnF’s latest Silver Update:
Power of Markets
In the latest Keiser Report, Max discusses whether it’s time to start loving bankers as former Mayor Ken Livingstone suggests and they also wonder if the flying naked short selling witch caught by religious police in Saudi Arabia is, in fact, Blythe Masters covering an oil trade. In the second half of the show, Max Keiser talks to Aston Walker – aka the Birmingham Looter – about whether he was ever offered a deferred prosecution agreement for his crime of looting during the 2011 riots and ask whether he would have been granted immunity had he offered the loot as an infinitely rehypothecated collateralized looted H&M clothes bonds.
In today’s Midday News we discuss the implications of endless QE (QE3 or QE to Infinity) and the impending destruction of the US dollar, and we are joined by Ben Bernanke, the Chairman of the Federal Reserve to discuss the Central Bank’s monetary policy strategy.
Submitted by Stewart Thomson
There is a terrifying head & shoulders top pattern in play, and the current highs are occurring at the same time as gold fights with the $1800 level. My question to gold stocks investors is this: Is that head and shoulders formation a legitimate price pattern? Or, is it just a meaningless shape on the chart? I’m convinced that it’s just a shape.
My professional opinion is that no gold-related item should be sold at a loss. If it’s sold at a loss, then it shouldn’t have been bought in the first place. I’m not afraid of that supposed top pattern at all. Here’s why: I would argue you need to look at this long term monthly HUI chart a lot more often than you look at the short term charts. I call it the “King Daddy” of all gold stock charts. Please make note of the two previous highs to the left of the chart, at 519.68 and 516.16.
The HUI has already taken out those highs on this rally, and appearing to be “flagging” here, not correcting, for a price blast up to the 638 area highs, which is your real profit booking area!
By SD Contributor SRSrocco:
There comes a time when we just have to say “ENOUGH IS ENOUGH”.
It looks as if everyone and their brother now expects gold and silver to enjoy a bloodbath. Below we can see that CLIVE MAUND is once again showing his true colors as he has labeled precious metals investors ‘the sheep‘ in his latest update predicting a ‘blood bath‘ in silver:
Most of our readers are aware of the ongoing debate on whether a return to the gold standard would fix the massive debt problem plaguing the Western financial system. Sound money advocates led by Ron Paul have long called for a return to the gold standard rather than the paper fiat debt currency currently issued by the Federal Reserve.
The gold standard debate has even recently reached the mainstream, with the Republican party even making it a portion of their party platform to study the feasibility of such a return to sound money.
In this excellent and MUST READ piece, Martin Sibileau presents a technical perspective on why a return to the gold standard alone is NOT ENOUGH to solve our current economic crisis, stating that it must be accompanied by the extinction of the shadow banking system.
*Update: Silver has now retraced nearly the entire waterfall decline, as it has traded back to $34!
After consolidating over $34 throughout the morning COMEX session, the cartel has just initiated another waterfall decline in silver, as the metal was just sent from $34.05 to $33.44 in seconds.
In his latest update, Greg Mannarino discusses HR 6566, and what might be the motivation for the US Gov’t passing a bill preparing for mass fatalities.
Full update below:
SPOT MARKET prices for buying gold eased to just above $1770 an ounce during Tuesday morning London trading, around ten Dollars below where they started the week, while stocks and commodities were broadly flat despite major economies seeing their growth forecasts downgraded by the International Monetary Fund. Prices to buy silver dropped below $34 an ounce – down more than 2% on the week so far.
US Treasury bond prices gained this morning, in contrast with those for UK and German government debt, which fell along with the Euro.
Submitted by SD Contributor FW:
Since early September, will all the huffing and puffing the cartel has directed towards silver, they’ve accomplished virtually nothing other than scaring the bejesus out of all but the most informed strong hand silver investors. All the cartel has been able to do is push silver under $34 for a few hours per raid per week. That’s pretty much unprecedented, yet sentiment remains so despondent that few seem to even notice that the cartel is actually already showing the weakness one would expect to see at the initial stage of a commercial signal failure.
The cartel has been attacking like mad for the better part of a whole month now, ripping out not only the kitchen sink but taking much of the rest of the plumbing out of the walls and hurling it at the paper markets. Yet even through one of the fastest additions of short interest we’ve seen throughout this entire bull market, the cartel has little to show for it’s effort.
I believe we have been witnessing the initial stage of an evolving commercial signal failure.
Bloomberg & it’s BNY Mellon guest are bullish on gold and silver, stating that gold will punch up through the critical $1800 level, and that silver will clear $35 and target $37.5-$40 by the end of Q4.
Does this call by the financial MSM warrant caution for precious metals investors over the short term- particularly with commercial net short positions in gold and silver near record highs, or do they just recognize the early stages of a commercial signal failure, as pointed out by FW?
CNN Money’s HelpDesk blog today published a Q&A responding to an inquiry regarding the question How do I purchase silver in physical form?
CNN Money’s response? ETF’s such as SLV or SIVR (notice Sprott’s PSLV is not included), silver certificates- essentially own paper silver in any way or form as long as investors avoid actual physical silver bullion like the plague.