Lew Rockwell: 'We stand to face hyperinflation'

More and more economists are saying we are heading back to a recession and consumer confidence has plunged to new lows. While the concern sweeps the country there are some reports that the Federal Reserve would be doing some quantitative easing in September, but who does this benefit? Lew Rockwell, chairman of the Ludwig Von Mises Institute, tells us who will gain from the quantitative easing.

Judge Napolitano on The Plain Truth of the Federal Reserve!

Ron Paul On Gold Rush!

Silver May Be Better Bet Than Gold

Both gold and silver have made big moves higher so far this year, but silver’s gains of more than 30% year to date are more impressive than gold’s 25% climb and, likely, will continue to be.

“Own gold and silver as soon as you can,” Alex Cowie, editor of Diggers and Drillers, said in a recent report for Daily Reckoning Australia. But “I would choose silver over gold.”

Why?

According to Cowie, the Commitment of Traders report “says buy silver.” The fewer open positions on silver there are, the more bullish the set up because there are “loads of potential buyers out there who haven’t entered the market,” he explained.

The gold-to-silver ratio also favors silver, he said. Gold is roughly 15 times more rare than silver in nature and right now, you need about 44 ounces of silver to buy one ounce of gold. That ratio is heading back to where it belongs and could close in on its long-term mean of 15. At the same time, there’s no more silver to spare and investment demand for the white metal is soaring, said Cowie.

“There isn’t even enough silver bullion in the world to supply one ounce per Chinese citizen,” he said. “It doesn’t take much imagination to see where this is heading.”

At last check, gold futures GC1Z were trading around $5 lower, while silver SI1U was down 25 cents.

By: Myra Saefong

Gold Rush: The Bullion Trail

CrossTalk: Bernanke 2.0

Why is Bernanke being so vague about the Fed's policies? Does it really matter? Does the US have any tools left in its toolbox? How relevant is the Fed, and when will the US economy start to recover?

Obama Changes Advisers, Can't Change the Economy

President Obama added economist Alan Krueger as the new chairman for his Council of Economic Advisers. With this new addition, President Obama plans to jumpstart the economy as well as create new jobs across the country. Richard Wolff, economist and radio host, tells us if this new chairman will cause change.

Keiser Report: Redback vs Greenback

This week Max Keiser and co-host, Stacy Herbert, discuss Anonymous joining #occupywallstreet while President Obama does dirty banker deal. In the second half of the show Max talks to fund manager, Dan Collins, about how the Chinese 'redback' may displace the ever devaluing American 'greenback' in world trade.

Greek Economy May Need Further Financial Help

To avoid a financial meltdown, the European Central Bank has spent nine billion dollars to protect Italy and Spain.

In Greece as the new financial forecasts show the economy is still shrinking, the European Union and the International Monetary Fund are discussing whether the government has done enough to warrant more emergency funds.

Debtend: 'Euro Needs Surgery, Not pills & Plasters'

The EU has called for the President of the European Central Bank, among other officials, to stand before a special financial committee, as the debt plague sweeping the bloc threatens its very unity. Talks, which are underway, focus on halting the spread of contagion, as fresh data sows panic with revelations even such economic giants as Germany are not immune. Another priority is addressing investor concerns that Finland's demands for collateral, could derail a second 160 billion euro bailout for Greece. Patrick Young, Executive Director of the investment firm DV advisors, believes the rifts between the EU nations make it impossible to offer a meaningful solution to the crisis.

RMB, RUBLE Exchange Made Easier

China and Russia have long been key trade partners. And now, transactions using the RMB and ruble are now easier than ever, travellers and businesses alike. China is now allowing Russian visitors to exchange their currency using new exchange vending machines.

For a long time, there haven’t been direct exchange services for RMB and ruble in many banks. Russian visitors had to get their RMB through black market exchange operators. The first currency exchange ATM has brought convenience to many.

Gold Price to Shoot Up if China Increases Reserves

Will gold price go up further, if China accumulates more gold reserves? Bullion analysts say gold prices will shoot up if China–the world’s largest consumer of the yellow metal now–mops up more gold reserves.

China has been on a gold accumulation spree in the last few months. China’s State Administration of Foreign Exchange In April this year that the country’s gold reserves increased to 33.89 million ounces.

China used to adjust its gold reserve from 394 tons to 500 tons in 2001, then to 600 tons in 2003. The country has added another 454 tons to the gold reserve through gold purification and domestic trade.

Only six countries have reported over 1,000 tons of gold reserves across the world so far. China is ranked fifth in the world.

Early this month, India surprised the world by buying 200 tonnes of gold from the International Monetary Fund (IMF). Bullion traders are eagerly looking forward if China will step in and buy the remaining 203 tonnes of IMF gold soon.

According to independent precious metals analyst David Levenstein, if China increases its gold holding to even 5% of total reserves, a much higher gold price could ensue.

Comex near-dated gold futures closed at 1 138.60 an ounce on Monday, a new record. A break past the 1 000 mark has been sustained since October 1 on a closing price basis.

After India snapped up 200 tons of the yellow metal from the IMF, rumours began to fly that perhaps China would be the next buyer.

“China is now the largest producer and consumer of gold in the world. Yet despite the fact that they have some 2.3 trillion in reserves, only a very small portion (1.9%) is held in gold,” said Levenstein. – Source: Commodity Online

Source

Silver! Final Warning!

Heretic Productions present : Silver Shield's Final Warning. http://dont-tread-on.me/btfd-silver-shields-final-warning/#more-6039

Gold Prices Rise Ahead of Jackson Hole Speech

Fed Chairman, Ben Bernanke, will speak today from Jackson Hole in Wyoming, a speech investors are watching closely for hints on future Fed policy

Gold prices arrested this week's slide on Friday to rise nearly 1 percent ahead of a speech from Federal Reserve chairman Ben Bernanke in Jackson Hole, Wyoming, later, which will be closely watched for hints on the outlook for Fed monetary policy.

The metal is still set for its first weekly loss in eight, however, as investors took profits after its surge to record highs at $1,911.46 on Tuesday. Volatility spiked, with prices sliding more than $200 from that level by Thursday.

They have since recovered, with spot gold up 1 percent at $1,786.86 an ounce at 10:21 a.m. British time.

"Volatility... is some 65 percent higher than the 2010 average," said Ole Hansen, senior manager at Saxo Bank. "That tells us that despite the uptrend being firmly intact, we have to expect violent corrections as we move along."

"Weak speculative longs has now been washed out, and the market is settling down for Bernanke. QE3 or no QE3, it does not alter the near-term dire prospects for economic activity and worries about the health of the banking sector and government debt."

Bernanke's speech will be widely watched by financial markets hoping for some indication the U.S. central bank is prepared to step in to support an economic recovery.

He is seen as unlikely to announce a third round of Fed bond buying, or quantitative easing. The Fed has already bought $2.3 trillion in longer-term securities.

Saxo Bank's Hansen said while the market could correct further if no more quantitative easing is announced, he does not expect gold to fall below $1,700 an ounce.

"That the recent sell-off reflected some scaling back of QE3 expectations suggests that gold's reaction to potential disappointment today may be less severe," said UBS in a note.

"While we think that the bulk of the selling is done, the fragility of investor sentiment towards gold at the moment and the bounce of the past 12 hours could mean that gold will suffer further losses, albeit more minor than in recent days."

U.S. gold futures for August delivery were up $26.40 an ounce at $1,789.60.

STOCKS MARKETS RETREAT

On the wider markets, European shares slipped on Friday, while the euro firmed a touch versus the dollar and industrial commodities like oil and copper eased. German government bonds held steady ahead of Bernanke's speech. .EU

Outflows from the world's largest gold-backed exchange-traded funds also dried up on Thursday, with its holdings remaining at 1,232.3 tonnes. It is still on track to post an outflow of nearly 60 tonnes this week, however.

"Now that short-term traders (have) booked profits in gold futures and ETFs, there are also physical buyers who moved in on the latest rally and who will choose to hold onto their longs," said VTB Capital in a note.

Among other precious metals, silver prices retreated 0.5 percent to $40.80 an ounce.

The metal failed to post its usual stellar gains on the back of gold's latest rally, as investors burnt by its sharp price correction earlier this year -- when it plunged more than 30 percent in less than a week -- remain cautious.

The gold: silver ratio, representing the number of silver ounces needed to buy an ounce of gold, stood at around 43 on Friday, well above the level around 30 it traded near in April when both metals hit record highs.

Meanwhile, spot platinum was up 0.4 percent at $1,818.45 an ounce, and spot palladium was down 0.5 percent at $742.88 an ounce.

Jan Harvey (Reuters)

August 26, 2011

LONDON (REUTERS

Peter Schiff: "Bernanke Is Gonna Keep Printing Money! That's All He Knows!"

August 24, 2011

Keiser Report: Myotonic Markets

This time Max Keiser and co-host, Stacy Herbert, discuss the Fainting Bankers of Wall Street and the myotonic markets they inspire. In the second half of the show Max talks to Chris Martenson about the insolvency of the banking system and about Dr. Bernanke's misdiagnosis of the cause of the financial crisis.

Keiser Report: Bankers & Aliens

This week Max Keiser and co-host, Stacy Herbert, notice that looking back is not an option when all the evidence is destroyed by the SEC and Max tries to explain the gold / Treasury conundrum. In the second half of the show Max talks to Catherine Austin Fitts about exponential fraud and the financial coup d'etat.

Bob Chapman:$8,000 Gold & $500 Silver, MINUMUM

Hugo Chavez Wants His Gold

Gold has hit new records when it comes to price and the president of Venezuela, Hugo Chavez, has decided to cash out. Chavez is asking the US, Britain and Switzerland to give him his $11 billion in gold reserves. What does this mean and why should we care? Adrian Salbuchi, author and researcher, gives us some insight on the decision made by Chavez.

Gerald Celente: Gold Is the Wisest Asset

Globally there has been economic unrest. Stocks have been on a roller coaster ride for the past few weeks and this leave many wondering where to put their money. We ask Gerald Celente, publisher of The Trends Journal, where his investments are in these uncertain times?

Ben Davies Talks With James Turk

Ben Davies (http://hindecapital.com) and James Turk, Director of the GoldMoney Foundation, talk about the current fiat currency world monetary system established under "Bretton Woods II". They explain the imbalances created by the hegemony of the fiat dollar, and how it allows mercantilist vendor financing and the accumulation of huge FX reserves in sovereign wealth funds and other vehicles. Ben Davies thinks that this system is close to the breaking point.

They talk about potential problems in China, and how the Chinese need to import huge amounts of raw materials in order to keep their economy growing. Davies and Turk also explain how China has more gold than they are admitting.

They see gold breaking the $2,000 barrier this year and moving exponentially higher. Ben Davies explains that he uses a power-function model to analyse the price of gold, based on Benford's law.

This interview was recorded on August 4 2011 in London.

James G. Rickards Talks to James Turk

James G. Rickards (http://www.tangentcapital.com) and James Turk, Director of the GoldMoney Foundation, talk about the European sovereign debt crisis and the European Central Bank buying Italian bonds. They talk about the ECB's role in the crisis and how it is becoming increasingly politicised, in contrast with its predecessor of sorts -- the Bundesbank. They talk about the possible differences between Jean-Claude Trichet and his successor Mario Draghi. James Rickards explains how Europe is developing a common fiscal policy with a common Treasury, in the form of the European Financial Stability Facility (EFSF), which will dictate fiscal policy to many member countries -- such as Greece -- in exchange for rescue funds. Rickards is bullish on the euro, among other reasons because the eurosystem owns 10,000 tonnes of gold.

This interview was recorded on August 4 2011 in London.

Chavez Calls Back Venezuelan Gold

Peter Schiff on Record Gold Prices: I Told You So!

With the decline of the world economy, many investors are flocking to the precision metal: gold. Many say buying gold is a safe haven from worldwide inflation and gold will keep its value over any paper money. Will gold continue to increase in value? Peter Schiff, president of Euro Pacific Capital, tells us more about the precious metal.

Silver Stutters Upwards Nervously in Pursuit of Gold

With Sprott planning to buy another $32 million worth of silver, is the price going to take off again, or continue its pattern of a nervous advance alongside any gold price increase?

It is interesting to look at the price movement patterns for gold and silver of late. Normally if gold is on a tear, silver jumps up, as one commentator described it, like gold on steroids. Likewise when gold falls back silver is prone to plunge. But we have seen none of this in the past two or three weeks when gold has moved up and down quite drastically. Initially silver remained virtually unmoved while gold fluctuated wildly - unusual behavior for ‘poor man's gold'. And only now, with gold reaching for, and achieving new records, has silver been seemingly reluctantly dragged up along with it and at long last appears to be shaking off its stuttering performance. Does this change in behavior mean a rerating is taking place?

Perhaps not yet. Silver investors are naturally nervous, particularly following the sharp fall in their favored precious metal at the beginning of May - a fall so severe that it may have seen some new investors in the metal withdraw from silver forever. It is taking time to get over this setback but in recent days seems to be recovering its luster - and there is one move apparently under way which could drive silver very rapidly to big new highs.

Pre-eminent silver bull, Eric Sprott, has told King World News that he will be selling a further 2 million shares in the Sprott Physical Silver Trust which will make available another $32 million which will be used to buy physical silver to that value. Sourcing the 800,000 ounces or so of physical metal may put a squeeze on the market if some silver analysts are correct, and this could cause the silver price to accelerate- and along with gold's spectacular surge could drive silver back to the $50 level and higher very quickly. Sprott himself affirms strongly that he believes the silver price should be over $100, although this would suggest a 16:1 gold:silver ratio which, if it comes, may still be a way away yet timewise.

The current gold:silver ratio on this morning's prices with gold at $1860 and silver at $41.30 was 45 - if silver does indeed start to accelerate this may come back down to below the 40 level short term (which would put silver at above $46.50 at an $1860 gold price) and then, if Eric Sprott is correct in his basic assessment , the ratio would gradually move downwards, and the silver price move upwards faster than that of gold in percentage terms.

But, some gold analysts are predicting a sharp correction in the yellow metal which they feel would be a natural result of what some see as an over-rapid rise in the metal price. If this happens will silver stay put - as it did during the last short-lived correction in the gold price of a couple of weeks ago - or revert to its old pattern of turning down much faster than gold in a declining gold price situation?

Even if this is the case, the true silver bulls would just see this as a great buying opportunity in what they view as a long term upwards bull market in precious metals within which category they see silver as the potential star performer. But it could well be a bumpy ride.

Lawrence Williams

August 19, 2011

www.mineweb.com

LONDON

Gold Rises as Asian Markets Slide

For investors in this economic climate, it seems that all that glitters is gold.

The cost of the precious metal hit an all-time high on Friday after its seventh consecutive weekly gain. The metal has already risen by 14 per cent in August.

It is being called a modern day gold rush, and is fueled by the dismal performance of the stock markets across Asia pacific.

Al Jazeera's Divya Gopalan reports.

As Good as Gold

Historian and investment banker Lewis Lehrman joins the Judge to explain why returning the dollar to the gold standard would help America return to prosperity.

A Malaysian State Introduces Shariah Currency,Gold & Silver Coins

Taipei, 14 August, (Asiantribune.com):A Malaysian state has introduced the gold and silver coins as official currency, reviving a practice from early Islamic era. The Kelantan state of Malaysia has become the first to introduce the gold dinar and silver dirham for use.

The people can use the gold dinar and silver dirham coins at stores and restaurants, a Kelantan state official said on Friday. The coins came into circulation Thursday and can be purchased at various locations in Kelantan. Their worth is currently about $180 per dinar and $4 per dirham.

The gold dinar and silver dirham coins would provide an alternative to Malaysia's currency, the Ringgit, the state official said. The northeastern Kelantan state is governed by the Pan-Malaysian Islamic Party, a conservative opposition group that promotes religious policies in its rule.

Kelantan authorities also say the use of such coins is encouraged in the Quran. The gold dinar was the official currency of Muslim societies for centuries.

The value of the coins used in Kelantan can fluctuate according to market prices, but officials say it remains a better alternative to currency affected by the U.S. dollar and other foreign currency.

State officials have minted coins worth about $630,000 for use, and is made available at more than 1,000 outlets in Kelantan's capital, said Nik Mahani Mohamad, executive director of Kelantan Golden Trade, which mints the coins.

"It's a great, great moment for Muslims," Nik Mahani said. "We are providing an alternative means for the people to trade with."

Mentri Besar Datuk Nik Abdul Aziz Nik Mat said the state would strive to expand the use of gold dinar and silver dirham in its transactions, including the payment of civil servants’ remuneration. He also said about 1,000 traders so far had agreed to use the currency in their transactions besides Tabung Haji and Bank Islam Malaysia.

The state government also plans to give employees the option of receiving part of their salary in this currency, as well as introduce gold bars for large investments. Muslim alms can also be paid with the coins.

The Pan-Malaysian Islamic Party has governed Kelantan since 1990. Some of its policies over the years include banning gambling, nightclubs and rock concerts, and requiring Muslim female state employees to wear headscarves at work.

Asian Tribune

Keiser Report: Crimogenic UK

This week Max Keiser and co-host, Stacy Herbert, look at how quantitative easing is good for the rich, bad for the poor and how sterling is offering no refuge. In the second half of the show Max talks to Richard Heinberg, author of The End of Growth, about the role of energy in the current debt crisis.

Debt Collapse - The Case For $20,000 Gold - Mike Maloney

Mike Maloney is the author of the world's best selling book on precious metals investing. Since 2003 he has been advocating gold and silver as the ultimate means of protecting wealth from the games played by our governments and banking sector. In this 90 minute presentation he lays down his 'most likely' scenario for the global economy over the next deacde...short term deflation, followed by big or even hyperinflation.

Here you will learn the true definitions of inflation/deflation, the difference between currency and money, price vs value, 'Wealth Cycles', gold and silver accounting for the expansion of fiat currency, gold and silver supply and demand, the differences between the today's bull market and that of the 1970s, The Debt Collapse, and more.

Wall Street Laughs At Main St

http://dont-tread-on.me/wall-street-laughs-at-main-street/

Will Canadian Oil Go to China Instead of US?

The US imports approximately half of its oil from Canada, Saudi Arabia, Mexico and Venezuela. The US is Canada's biggest purchaser of crude oil, but now Canada has a potential client, China. Is Canada looking to the future on behalf of its economy? In the past Canada has claimed it would not do business with countries who don't respect human rights. Why the change of heart? Stefan Molyneux, host of Freedomain Radio, tells us why.

David Tice Talks to James Turk

They talk about how Keynesian and monetarist economics have led us down this path, while Austrian School teachings of Mises, Rothbard and Hayek were ignored.

They also talk about gold mining, the risks involved and how diversification helps to mitigate these. They emphasise the importance of physical gold bullion as opposed to "paper gold" -- pointing out that the latter is not a tangible asset.

James and David talk about stocks, volatility and the dangers of another Lehman-style market meltdown, and discuss potential "black swan" events on the horizon.

This interview was recorded in August 2011 at the GATA conference in London. David Tice is a shareholder of GoldMoney.com.

Steve Forbes' Gold Prediction

Forbes Editor-in-Chief Steve Forbes joins the Judge to explain why he says that the U.S. dollar will return to a gold standard within the next five years.

Keiser Report: Banking Looters

This week Max Keiser and co-host, Stacy Herbert, observe the British shock that there is no society. In the second half of the show Max talks to former bank regulator, William K. Black about the absence of justice for banking crimes and whether or not the population plays a role in demanding this justice.

'Govts Rob Citizens, Money Printing Race Disastrous

The largest holder of U.S. debt is getting frustrated over Washington's financial situation. So Vice President Joe Biden is heading to China on a mission of reassurance on Wednesday. But Puru Saxena, who's an investment adviser in Hong Kong, says Washington's troubles are too big for its Asian partner to stop worrying about.

Lew Rockwell: Death of the Dollar

40 years ago today former President Nixon was fighting inflation and overwhelming war costs and with that he ended the last remnants of the gold standard. At that time Nixon claimed he was defending the dollar but his critics said it was one of the most damaging decisions in modern economic history. Are we feeling the effects of this decision four decades later? Lew Rockwell, chairman of Ludwig von Mises Institute, tells us who's to blame for the death of the dollar.

John Embry Interview With James Turk at GATA's Gold Rush 2011

John Embry (http://www.sprott.com) and James Turk, Director of the GoldMoney Foundation, talk about the price of gold and the US debt downgrade.

They discuss Sinclair's $1,764 level and how the majority of observers still disparage gold, even if perception is slowly changing. They explain how the physical gold market is taking charge of gold price discovery and how strong physical demand will drive the price much higher.

They talk about how the price of gold will react in another market meltdown, similar to 2008, and whether there will be a sell-off. They conclude that this time the flight to safety will be more important than the rush for liquidity and that gold is uniquely placed to act as a safe haven, especially with T-bills and other traditional safe assets discredited by US debt issues.

This interview was recorded on August 5 2011 in London.

Greece Debt Crisis - On the Edge with Max Keiser

In this edition of On the Edge, Max Keiser interviews Yanis Varoufakis from YanisVaroufakis.eu.

He talks about the new Greek bailout package planned for September and on the Eurozone crisis.

George Carlin on Bankers

Here's another one ..RIP G.Carlin

geroge carlin talks about big banks who own everthing and talks about how you are a slave.

Louis CK on Bank Fees

To wrap up a crazy week ..enjoy :)

Gold Makes the World Go Round

The price of gold continues to grow at a fantastic rate, reaching new heights. Not that long ago its price surpassed all expectations, and today gold is more expensive than platinum. On August 9, COMEX recorded a new high of $1,776.8, and the growth since July 1 amounted to $290, which is the largest monthly increase in the recent years. Experts believe gold is the most reliable asset of the second half of 2011.

Today investors on the stock exchanges recorded a growth of gold prices in the range of 3.5%. This figure amounted to $1,778 per ounce, according to The Financial Times. On August 8, traders bought 950 million ounces of gold through trading on the exchange funds, the greatest volume of trading since February 2009.

Experts point out that under the conditions of instability in the U.S. gold grows as investors try to invest in safe assets whose range is constantly shrinking, emphasizes FT. According to forecasts of "Goldman Sachs", one can expect an increase in the price of gold to $1,860 per troy ounce in the next 12 months, while "JP Morgan" predicts the maximum price for gold at the end of the year at $2,500. For its part, HSBC suggests that by the end of the year gold could trade up to a level of $1,850. The forecast for 2012 in light of volatile prospects in financial markets has been increased by 8.3% - to $1,625 per ounce, says "Fox Business".

Forecasts of this kind raise questions about the reasons for this trend. Alexander Belyakov, an analyst of "Investcafe," said that the change in quotation is due to growing problems in Europe and the USA. Reduction of credit ratings and in particular the latest developments in the U.S. economy have caused a sharp demand for gold as a safe haven from riskier assets.

According to him, the entire situation with gold can be called a "bubble", however, high prices for this metal have no impact on the global economic situation. No one will sell gold without a good reason, so the growth may last a very long time. The only thing that can somehow reduce the price of gold in the future is the change of monetary policy of the Fed's that held a meeting on August 9.

Belyakov told Bigness.ru that central banks have recently been actively buying gold, increasing their reserves. In recent years the greatest demand was demonstrated in Russia, Mexico and Thailand that over the past year replenished their reserves by 42.99 tons and 9 tones, respectively. The physical assets of the largest mutual fund SPDR Gold Trust rose by 23.5 tons, exceeding 1.3 tons for the first time since 2010. If the fund purchases continue at this rate, a new record may be set soon - over 1.32 tons of supplies.

"As you can see, the dynamics of buying gold only grows. In the future we should expect certain decline, given the current sky-high prices, but I do not think that they can be very intimidating to companies and central banks. According to many opinions and forecasts, gold will continue to go up, and hardly anyone knows when it peaks.

Let's try to figure out what may affect the depreciation of gold in the medium term. Recently, the main driver of growth for the quotations has been the U.S. The last event the markets listened to with great attention was a speech by Fed Chairman Ben Bernanke, which is especially important in light of recent events with the collapse of the stock exchanges of the country. According to him, it is likely that the weakness of the economy noted recently may last longer than expected, and that there may be another risk of deflation, implying the need for additional support for the economy. The Fed points to the continued existence of low interest rates over a long period of time. It is also considering lowering the rate in case of launching a new program QE3.

If, however, the new program is launched and the "artificial" capital is brought to the markets, it will support the stock markets and cause the fall of the dollar, which in turn will affect the rate of gold. In this situation a prolonged correction is possible, but overall "bullish" trend for metal will continue, and sales will provide excellent opportunities for future purchases," said the expert.

Thus, we can assume that from the technical side gold is overbought, and there is a need for correction. This rapid growth cannot last too long. Prerequisites for this correction already exist: a decline from the current maximum of $1,775 by over $50. At the moment, the basic level of support is the uptrend from July 6, the next support level is a mark of $1,680, and resistance is located at $1,750 and $1,775 marks, according to the analysis of Investcafe.

Belyakov said that it would make sense to "partially close the open shop and wait for the reduction in the area of $1,680. With these levels, consider buying short-stop orders with the immediate goal of $1,775. In terms of the futures on FORTS the recommendations are similar, based on the current levels of contract."

"Thus, both the fundamental and technical analysis point to the continued growth of gold, but we should monitor closely the situation in the global economy as well as possible changes for the better that may put pressure on gold over the medium term," sums up the expert.

Irina Loseva

August 11, 2011

Pravda.Ru

Max Keiser: WW3 is on as Wall St. Banks Plunder Economy

The loss of America's AAA credit score has sparked panicked sell-offs on global markets. After several days of concern over whether France would retain its highest status, ratings giants reaffirmed its top billing on Wednesday. But investors remain unconvinced the country's finances are solid enough. Problems in the Eurozone will be up for discussion by the French and German leaders next week.

Gerald Celente: From the Trenches

Gerald Celente, Publisher of the Trends Journal gives Adam an update on the first great war of this century.

Keiser Report: Reverse Nixon Golden Dream

This week Max Keiser and co-host, Stacy Herbert, imagine a world in which U.S. President Barack Obama were to pull a reverse Richard Nixon and put the U.S. back onto a gold standard against which it could devalue its debts.

In the second half of the show Max talks to money manager, author and radio show host, Peter Schiff, about debt ceilings, downgrades and gold standards.

Jim Rickards on Gold, S&P Downgrade

Jim Rickards discusses gold and the importance of the barbaric relic in geopolitical terms. As Rickards is trying establish his thesis on gold and the dictatorial powers of the USA, the hosts and guest promptly do their best to downplay the importance of gold and Rickards' analysis. 

Gold hit $1700 this morning and Rickards calls the United States a gold superpower and the Saudi Arabia of gold. He also mentions how the US could simply confiscate gold not only of its citizens, but that of other nations' gold that is stored in the USA. Jim Rickards has some interesting points of view and always provides great insight and analysis, even if he is ridiculed by those who proudly claim they don't understand gold, like those on this interview.

Jim Rogers:US Needs to Face Reality, Not QE3

INTERNATIONAL. Legendary global investor and chairman of Singapore-based Rogers Holdings, Jim Rogers, spoke Monday about the Standard & Poor's credit rating downgrade of US sovereign debt, saying the 'no news' event has nothing to do with the markets plunging and will not affect his investment strategy.

He also discussed the Federal Reserve monetary policy, arguing that further money printing, better known as QE3, will bring more inflation, social unrest and will lead to lost decades for the United States. He urged investors to be prepared as 'more problems are coming'.

The only thing that will work, he said, is to face reality by letting people that are bankrupt go bankrupt.

Speaking in an interview from Singapore with Rishaad Salamat on Bloomberg Television's "On the Move Asia" Monday, Rogers said: "Everyone has known that America is the biggest debtor nation in the world".

Standard & Poor's decision to cut the US's long-term debt rating is "not news, it's not even old news, it's just not news," Rogers said.

The US downgrade will not affect financial markets and has not caused the plunge in markets, he argued.

"Markets are coming down because America has problems, Europe has problems, China is trying to slow down...There's plenty of reasons for markets to come down, but it has nothing to do with S&P," Rogers told Rishaad Salamat.

Anyone who is investing on the downgrade, should not be investing at all, he said, adding that the world had known - about the US's problems - for a long-long time.

"The markets look ahead. No none who invests on the news makes any money. The markets are looking 6-12 months ahead and when you look 6-12 months ahead there are some bad things coming."

Where are markets heading now?

"Normally when you see panic like this it may be getting to building up towards a selling climax. If it gets to a selling climax, I will cover my shorts...because this kind of action usually leads to a reversal at some point," Rogers said.

What is he buying?

Talking about his investment strategy, Rogers, who predicted the start of the global commodities rally in 1999, reiterated he owned commodities, real assets, especially agriculture, gold and silver.

"If equities continue to fall, I will cover my shorts, perhaps all my shorts, and I will look for things to buy. And it looks as commodities are continuing to be beaten down, that's where I will put my money," the legendary investor said.

Gold and silver are going up too high too fast, he said, adding he hoped a correction will take place, "so that I can buy some more".

"Gold and silver, over the next few years, are going to go much higher, as will agricultural commodities," Rogers predicted.

"I hope this will protect me if things go bad," he told Bloomberg.

Gold for December delivery in New York advanced as much as 3.6% to a record US$1,774.80 an ounce today on concern the economic slowdown will worsen. The precious metal has surged 23% this year, heading for an 11th year of gains, as the global sovereign-debt crisis and a faltering economy boost demand for wealth protection.

Gold holdings had their biggest daily advance since May 2010 as of August 8.

Gold also advanced today to a premium over platinum for the first time since December 2008, as demand for a haven outweighed the appeal of platinum used mostly in catalytic converters.

Read the full article

Ron Paul : I Worry Most About Consequences Of Currency Destruction!

Ratigan Blasts US Political-Banking Ties Corrupt Congress

MSNBC—Aug. 9, 2011--Dylan Ratigan unleashes his anger against a system that he says stacks the deck against the American middle class.

Keiser Report: False Flag Finance

This week Max Keiser and co-host, Stacy Herbert, report from New York City on privatization drives, gold coins and debt deals. In the second half of the show Max talks to financial journalist, Teri Buhl, about the latest in the lawsuits against Bear Stearns.

Economic House of Horrors

Austrian economist Steve Horwitz discusses Alan Greenspan's suggestion that we print our way out of debt.

Eric Sprott Interview with James Turk

Eric Sprott (www.sprott.com) and James Turk, Director of the GoldMoney Foundation, talk about how there isn't enough silver in the silver market to back existing "paper silver" commitments. Sprott thinks that "silver will be the investment of this decade".

They talk about the dynamics of the gold market and how it has entered the second phase of its bull market. They look at ETF, central bank and coin demand. They also look at the huge paper-to-physical mismatch. Eric calculates that only 0.75% of financial assets are currently in gold.

This interview was recorded on August 4 2011 in London.

Gerald Celente: 'S&P Downgrade is an Archduke Ferdinand Moment'

The stock market dropped dramatically today - the Dow plunged more than 600 points. Apparently the US lost it's triple a credit rating Friday - it was downgraded by S&P. The ratings agency downgraded Fannie Mae and Freddie Mac, which inspired the mainstream media headlines across the country. Gerard Celente of Trends Research Group answering the question, where is the country and the global economy heading to.

Eric Sprott: Gold Massively Underinvested - Silver Data Overwhelming

Speaking at GATA's sold-out Gold Rush conference in London, Eric Sprott affirmed his strong views on gold and his even more positive thoughts on silver.

Why is the Gold Anti Trust Association (GATA) scorned by much of the mainstream financial and gold analytical community? As has been the pattern in many sectors the existing establishment tries to dismiss GATA's ideas and data as crackpot economics and conspiracy theories and its followers as a bunch of right wing nutters. Indeed some of them may be such, but if one looks at the attendees at GATA's Gold Rush event held in London this week, the audience, as GATA secretary Chris Powell pointed out several times, came from 31 countries and included some (not a huge number) from the mainstream European financial community, but seemingly few from the establishment UK financial sector.

Which is a shame as whatever one thinks of GATA and its followers many of the pro-gold and pro-silver arguments espoused by the speakers at the event - and many of these have extremely impressive cvs - do have a value and could do with being heard by those who control other people's money because, let's face it, much of what GATA has stood for has proved to be correct over the period over which it has been in existence.

While GATA itself does not necessarily directly promote gold and silver, nor predict prices, it has amongst its key followers many who do. GATA primarily was set up to fight what it saw as manipulation of the gold markets by central banks, governments and the financial establishment to the detriment of the yellow metal and its holders, and has indeed unearthed much evidence from official documents and statements which does appear to support this view - although to some it is a matter of semantics as to where government currency market controls (manipulation if you will) are part of a government's weaponry to control its own domestic economy, or whether there is some much deeper malign influence at work.

If one considers gold as money, which GATA followers very definitely do - and there is evidence that the mainstream financial community is again beginning to think this way too - then it could be that such gold price control might be considered an integral weapon in government policy.

Perhaps GATA is its own worst enemy in that it has tended to itself disparage the mainstream and some of its institutions by pouring scorn on the gold and banking establishment. Not always the best way of winning friends and influencing people! The World Gold Council and GFMS (bought yesterday by Thomson Reuters) seem to come in for particular vilification. But maybe if from its outset GATA had tried to work and reason with the gold establishment (maybe it did but found it beating its head against a brick wall) rather than antagonistically against it, its findings and reams of supporting official data might have attracted greater support.

Be this as it may there are indeed some charismatic figures of adulation within GATA and its supporters. Jim Sinclair and Eric Sprott (a newly outed Canadian billionaire who has got to this level by putting his money where his mouth is) come in for particular, almost messianic, adulation from GATA followers, many of whom will have profited from following their advice.

This preamble over - which probably won't have earned the writer many new friends from within the mainstream gold sector (but one needs to keep an open mind when trying to come up with a balanced viewpoint) - it is perhaps worth commenting in particular on Eric Sprott's keynote presentation at the conference dinner on Friday night. Not that he necessarily said anything in particular which he hasn't before, but his track record in the sector has been good, indeed exceptional. The writer may argue with his expectations for the silver price for example, and its return to a 16:1 Gold:Silver ratio (a level last seen when the Hunt Brothers tried to corner the market) but his belief in gold and silver has served him, and his investor followers, well as his billionaire status would attest.

In Sprott's view gold has been very much the metal of the past decade, and he looks to silver as that for the next decade. Indeed he is probably nowadays the world's pre-eminent silver bull. He still sees gold as massively underinvested and reckons that his analysts' research into silver now show that the data on silver overwhelmingly points to a huge run-up in the silver price ahead of us. He describes the April/May collapse in silver as a remarkably orchestrated manipulation of the market (the price famously fell $6 in a matter of minutes on a Sunday evening when all major markets were closed) by short sellers caught in a huge squeeze and faced with losing billions!

While this may have made silver investors more cautious for the moment, Sprott reckons the data suggests that there is a huge imbalance between demand and supply and the metal is set for a major rerating which indeed will bring the Gold:Silver ratio down to much lower levels. He points out that the major physical supply sources to the investment sector almost all report that in dollar terms investors are buying at least as much physical silver as gold - and also that it is increasingly difficult to take physical delivery of large quantities of the metal. For example in securing 15 million ounces for his company's Physical Silver Trust Sprott avers that it took a full three months before delivery of the metal was received and some of the delivery had not even been mined when the order was put in!

Sprott believes that gold will continue to rise and silver will rise far faster - he certainly does not believe the silver price can stay where it is with the banking system "an absolute disaster" and the economy "awful", with consumer confidence "sick and getting sicker".

Government will have to continue to print more and more money. Money will be needed to bail out major banks and economies as the world cannot afford to see another domino fall. As the knock-on effects of the Lehman Brothers collapse showed only too well the global financial system is so interlinked that another major failure could have cataclysmic consequences worldwide.

And printing more and more money effectively means the world's major currencies will continue being devalued against gold and silver - which represent the only constant readily available.

Sprott's message is clear, as is that indirectly of GATA and its supporters - You have to own gold and silver to maintain any form of financial stability in this time of economic turmoil.

Lawrence Williams

August 6, 2011

www.mineweb.com

LONDON

Jim Rogers on S&P's Downgrade of the US

The United States' prized top AAA credit rating has been cut for the first time ever. Standard & Poor's has dropped America's ranking to AA+. Asian investors are getting cagey on the back of what's been a tough week for America's economy. Jim Rogers says they're ditching bonds.

US Stock Markets Slump After Rating Downgrade

President Barack Obama has defended the American economy, claiming the U.S. is still a triple A country. The markets there don't seem to be in full agreement they've followed the rest of the global economy following Friday's downgrade of American credit. The Dow Jones has lost more than 4 per cent . RT's Marina Portnaya live from New York with the latest.

Euro on Edge, Will Collapse by November If No New Crisis Plan

European Central Bank officials have agreed to buy Eurozone government bonds to fight the continental debt crisis. Although it's not clear yet which bonds the bank is going to buy - experts expect them to be from debt-laden countries like Italy and Spain. That's after the German government reportedly admitted that the EU rescue fund won't be able to save Italy, the Eurozone's third biggest economy, if it needs help. The G7 group of the most-industrialised nations are also vowing to support financial stability and welcomed what it called 'decisive actions taken in the U.S. and Europe'. But financier and author Patrick Young says the EU needs to change tack immediately.

Doug Casey: Gold, US Dollar & The Greater Depression

August 6th, 2011

US, EU Finance Flawed and Corrupt

Despite all their efforts to revitalize their declining financial system, there is still a lack of trust by investors in the economy of the Eurozone and the United States.

Interview with Rodney Shakespeare, Professor of Binary Economics

China Slams US 'Addiction' to Debt

European finance ministers have expressed confidence in the US economy, in spite of the country's credit rating being downgraded for the first time in history.

However, China - which holds the vast majority of US debt - is far from happy.

Leaders there have criticised what they called Washington's "addiction" to debt.

Marc Faber: Gold Is Not Expensive at This Level

Marc Faber - CNBC - 05 Aug 2011

US, EU Economic Crisis News Analysis

They called it Black Friday as almost all major markets around the world experienced massive losses. Why has the US debt deal failed to calm investors? Can the Euro Zone survive the crisis and is this the beginning of another US-triggered recession?

Jim Rogers: US Never Scraped Out of 2008 Depression

The United States' prized top AAA credit rating has been cut for the first time ever. Standard & Poor's has dropped America's ranking to AA+. Asian investors are getting cagey on the back of what's been a tough week for America's economy. Jim Rogers says they're ditching bonds.

Paul Criag Roberts & Bob Chapman : U.S. Is Facing A Day Of Reckoning

A week left to find a solution to the debt problem, downgrading warnings for the US, arguing over cuts, Americans no longer capable of paying off their debt, a game of chicken is being run in Washington over the deficit, European banking system also under great pressure, jobless recovery from the recession, a fiscal doomstay machine.

Jim Rogers: Don't Sell Your Gold, If it Goes Down Buy More!

Jim Rogers - News on ABC Australia - 05 Aug 201

Silver Price Update from James Turk & Eric Sprott

In this video, recorded August 4 2011, Eric Sprott, Chairman of Sprott Asset Management, and James Turk, Director of the GoldMoney Foundation, talk about how there isn't enough silver in the silver market to back existing "paper silver" commitments. Sprott thinks that "silver will be the investment of this decade".

The Austrians Were Right

Judge Napolitano explains the battle between Austrian Free Market economists and Progressive American Socialist economists over the control of the commanding heights of the global economy.

GATA Chairman Bill Murphy's Interview With CNBC Europe

Ron Paul: "Super Congress" Is Part of a Dangerous Trend

EU Economies Racing to the Bottom

Italian Prime Minister Silvio Berlusconi has not asked for a bailout – yet. But Italian bond yields have surged above 6 percent, which is just a bit lower than the levels that sent Greece to a bailout.

­Raoul Ruparel, an economist with the independent think tank Open Europe, says it is highly unlikely that Italy will ask for or receive a bailout package, since the EU’s current anti-crisis mechanisms are not constructed to deal with such a large economy.

The Fed's Big Secret: Money is Worthless

Debt Ceiling Doesn't Fix the Economy

Lawmakers have built up the suspense for the last several weeks about the debt ceiling issue and let the clock run down almost to the last second. Yesterday the bill passed in the House and today the Senate passed the bill as well. Obama has already signed off on the bill that will cut $2.1 trillion in the next 10 years. So did the US government solve the problem or create new ones? Who will this bill affect the most? Doctor Paul Craig Roberts, columnist and former Reagan Administration official, gives us some insight.

Asia Today: South Korea Buys Gold

South Korea bought gold for the first time in 13 years, the latest central bank seeking to reduce dependence on the U.S. dollar, while Japan's Kirin makes a push into Brazil by buying a stake in a brewer. WSJ's Jake Lee and Isabella Steger discuss.

Bank of Korea Buys 25 Tonnes of Gold

In what is its first gold purchase in more than a decade the Bank of Korea says it spent more than $1bn over the past two months in order to diversify its holdings away from reserve currencies like the dollar and the euro

Yoo Choonsik and Kim Yeonhee (Reuters)

August 2, 2011

SEOUL (REUTERS)

South Korea spent more than a billion dollars in its first gold purchase in more than a decade, as uncertainty about global growth and sovereign debt push central banks around the world to diversify foreign reserves.

A brittle global economic recovery and precarious debt conditions in the United States and Europe have boosted the safe-haven appeal of gold, lifting bullion to a record high on Friday.

The Bank of Korea said in a statement on Tuesday it bought 25 tonnes of gold over the past two months, raising its gold holding to 39.4 tonnes, news that helped lift spot gold by around $6 from late Monday.

Reserve currencies, like the dollar and euro, "have been losing their clout since the recent global financial crisis partly due to abnormal monetary policy adopted in many countries and fiscal deficit problems," said an official at the central bank who declined to be named because he was not authorized to speak to the media.

Data on 27 major economies from the Bank for International Settlements shows the dollar's inflation-adjusted real effective value has dropped by 10 percent in the past two years and the euro has lost 6 percent, reflecting the sharp increase in the amount of each currency in circulation.

South Korea's gold holdings remain far smaller than that of other Asian central banks, with China, which ranks sixth globally, the biggest with 1,054.1 tonnes by the end of May, according to World Gold Council data.

Japan, No. 9 globally, has 765.2 tonnes of gold, or 3.3 percent of its total reserves, and 11th-ranked India has 557.7 tonnes, or 8.7 percent.

"South Korea's central bank seems a little late to the party, but gold investors should continue to expect price support as central bankers around the world are underinvested in the yellow stuff," said Sean McGillivray, head of asset allocation at Great Pacific Wealth Management.

"Investors and central bankers are looking to protect purchasing power, diversifying into the currency of last resort, gold."

With prices hovering near historic highs, the central bank of Asia's fourth-largest economy said gold looked less lucrative as an investment, but it was the right time to buy the precious metal because its foreign reserves had risen above $300 billion.

The news helped boost gold prices, with spot up 0.4 percent at $1,623.94 an ounce by 0528 GMT. Gold hit a record high of $1,632.30 on Friday.

"Any news about central banks buying gold reassures consumers and other major players who are already looking at gold as an investment," said Jeffrey Pritchard, analyst at California-based commodities futures and options brokerage Altavest Worldwide Trading.

CONDITIONS RIPE FOR GOLD PURCHASE

The Bank of Korea said its latest gold purchase was valued at $1.24 billion. It did not say whether it had bought gold bullion or funds, or whether it plans to buy more gold.

The purchase comes weeks before the central bank is due to face an annual parliamentary audit, expected in September, and after several South Korean lawmakers from both the ruling and opposition parties have repeatedly called for it to boost holdings of gold to diversify reserves.

At 25 tonnes of gold, equivalent to 803,769 ounces, the average price paid comes to around $1,543 an ounce, based on Reuters calculations.

A Bank of Korea official said it was the bank's first gold purchase since at least the 1997-1998 Asian financial crisis when patriotic Koreans collected the precious metal as part of a campaign to boost the country's foreign reserves, when it was on the verge of a sovereign default.

"The country had too small an amount of foreign reserves to diversify into gold before 2004 and was not able to buy gold between 2005 and 2007 due to concerns about the central bank's annual losses," the Bank of Korea said.

"Now that our total reserves topped $300 billion and foreign exchange markets stabilized, we judged that conditions were ripe for us to increase gold holding."

The increased gold holding would put South Korea in 45th position in the World Gold Council's list of central banks holding gold, up from 56th previously, the Bank of Korea said.

The United States has the biggest gold holding in its reserves, at 8,133.5 tonnes, or 74.7 percent of total reserves, according to the WGC's July report. Germany is a distant second with 3,401 tonnes, or 71.7 percent of its total reserves.

The Bank of Korea declined to disclose the purchase price but said it had entrusted all of its gold holding to the Bank of England for possible use in gold lending and other related transactions.

Including the gold, South Korea's foreign reserves rose by $6.55 billion in July to $311.03 billion, equivalent to about 30 percent of the country's annual gross domestic product of just more than $1 trillion in 2010.

South Korea's foreign reserves ranked seventh in the world as of the end of June, the central bank said.

Copyright Thomson Reuters 2011 All rights reserved

Gerald Celente:Greatest Depression Up Ahead

RT spoke to Gerald Celente from the Trends Research Institute and publisher of the Trends Journal. He believes, despite the last-minute debt deal, the U.S. is heading towards the next Great Depression.

Spain PM Postpones Holiday as Debt Fears Hit Record

Spain's Prime Minister Jose Luis Zapatero has been forced to postpone his holiday as investors continue to flee his country's debt.

Mr Zapatero had been due to leave for south-west Spain.

But on Tuesday, the yield on Spanish bonds reached 4.04 percentage points more than German debt - a record since the euro was introduced in 1999.

The so-called premium to hold Italy's debt also hit a record. "The prime minister has postponed the start of his holidays," Mr Zapatero's spokesperson said. "He is keeping an eye on the international economic situation." The latest spike in yields comes at a bad time for the Spanish government, which plans to raise as much as 3.5bn euros ($5bn, £3.1bn) in a bond auction on Thursday.

On Tuesday, the euro reached a record low against the Swiss franc. The currency is usually considered a so-called safe haven in times of turmoil.

Higher costs

Despite another bailout for Greece last month, the eurozone is struggling to contain fears that more countries will not be able to repay their enormous debts. The Irish Republic and Portugal have both been bailed out, and Greece has been rescued twice. And as the bond yields rise, Italy and Spain have seen their borrowing costs rise sharply in recent weeks.

Italy's 10-year bonds rose above 6% on Tuesday - a rate considered unsustainable. The premium over the equivalent German debt also reached a record spread of 3.74 percentage points. Italy has the largest sovereign debt of any European country. As a percentage of output, Italy's debt is second only to Greece in the eurozone - whose huge debts have led to two bailouts.

Representatives from the Italian central bank and stock regulator Consob were set to hold discussions on "the sovereign debt market situation and implications for the banks and the economy". As their countries' bond yields rise, it becomes more expensive for governments to sell more debt, which leads to a vicious circle as the old debt comes due for repayment.

On Tuesday, Germany - the biggest economy in Europe - saw its bond yield drop below the inflation rate for first time since reunification. This suggests that investors are now so scared, they are willing to sacrifice a return on their investment to hold the least risky bonds in Europe.

Source