This year’s recovery in precious metals prices – and the sudden spike in gold/silver mining stocks – convinced a lot of people that a new bull market had begun. Last week’s brutal smack-down scared the hell out of many of the same folks. The latest commitment of traders (COT) report implies that we should all […]
Last week the Fed found out what will happen if it raises rates: The global financial markets will melt down. So this morning a new member of the central bank’s seemingly endless army of talking heads said some soothing words, which stabilized the US stock prices. Now the question is when the Fed will finally […]
The world’s central banks clearly have no idea what they’re doing. Yet they keep on making threats, promises and predictions, most either nonsensical or contradictory, while acting in ways that make their countries’ problems worse rather than better. The end of their credibility is in sight.
Precious metals investors are a conflicted bunch right now. Most are happy with the recent action, and still expect rising gold and silver to send high-quality mining stocks to the moon. But most were also caught a bit off-guard by the miners’ recent spike. For every investor who loaded up on, say, First Majestic Silver […]
For an example of how far we’ve fallen from the old days of free-range First World entitlement, consider the fact that investment analysts are now judging companies by how well they cater to the needs of the terrified: Papa John’s upgraded on belief civil unrest is encouraging more pizza delivery (MarketWatch) – Papa John’s International […]
The following tables illustrate one of the dilemmas of mainstream money management: The vast majority of financial advisers and portfolio managers are big fans of bank stocks because finance is, in their minds, a crucial if not the crucial form of wealth-creating activity in the modern world. So the big names in the field — […]
Now the real fun begins. Last night Britons voted to leave the European Union, sending shock waves around the world — though not directly or immediately threatening the concept of European integration. But what comes next emphatically does. Emboldened by the Brits, nationalist parties across the Continent are gearing up for exit votes of their […]
Gold analyst Michael Ballanger just posted an article noting how much things have changed — perhaps for the better — in the gold market. Here’s an excerpt: Commercial Traders Have Just Gone Over the Top (24hGold) – With Friday’s Commitment of Traders Report, the ridiculous has just metastasized into the sublime as the Commercial Cretins […]
One of the oddest things in this increasingly odd world is the spread of negative interest rates everywhere but here. Why, when the dollar is generally seen as the premier safe haven currency, would Japan and much of Europe have government bonds — and some corporate bonds — trading with negative yields while arguably-safer US […]
John Rubino and Financial Survival Network’s Kerry Lutz on why the gold bull market has legs and how to play it. Also why Libertarians will have at least one thing to celebrate after November’s election, when California legalizes marijuana.
The first few months of this year gave a little taste of what’s to come for the junior precious metals miners, if this is indeed the start of a new gold/silver bull market. Some sample charts: There were dozens more like this, obscure little miners that soared when investors concluded that maybe they […]
The most widely-reported result of the recent G-7 meeting was Japan’s attempt to convince the other major economies to admit that a crisis is imminent and take appropriately radical steps. The response seems to have been a bunch of blank stares. As India’s Business Standard noted: G7 pact offers minimal cover for Abenomics reset A […]
It’s unclear what China was thinking when it was borrowed all those trillions to quadruple its capacity to make steel, cement and other basic industrial products. There’s no record of it checking in with the other countries that have such industries to see if a sudden surge of cheap imports was okay with them. Turns […]
For gold bugs, this is a good news/bad news story. Say you’re one of the many people who bought junior gold and silver mining stocks a few years ago — and then watched in horror as they fell day after day, week after week, finally settling at pennies on your dollar. Then, just as they […]
Macy’s reports horrendous earnings and Italian banks finally reveal their non-performing loans. Share prices plunge accordingly. China, meanwhile, admits that it’s over-leveraged and promises to stop borrowing. In other words, wherever you look, a global slowdown is coming and a massive currency devaluation will soon be the only politically feasible solution.