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MOST CRITICAL TIPPING POINT ARTICLES TODAY | |||
US DOLLAR - Any Threat Will Be Crushed! GOLD SINKS TO NEW LOW: $1,322 04-15-13 BI
Bitcoin Is Going The Way Of Gold — Falls Below $70 04-15-13 BI |
04-16-13 | PATTERNS | PRECIOUS METALS |
GOLD - 7 Sigma Moves Are Truly Rare Presenting Gold's 7-Sigma Move 04-16-13 Zero Hedge While yesterday's cliff-dive in gold was impressive by any standards, the escalating drop over the past 5 days has been just as dramatic. Based on 20 years of rolling 5-day moves, the ~15% plunge is equivalent to around 7 standard deviations (in context Yao Ming is a mere 6 standard deviations taller than the average human making gold's move the equivalent of meeting a man taller than 7'7")
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04-16-13 | PATTERNS | PRECIOUS METALS |
GOLD CRASH - Who and Why Does Someone Sell 400 Tons in 2 Hours? Gold Crush Started With 400 Ton Friday Forced Sale On COMEX 04-15-13 Ross Norman of Sharps Pixley via Zero Hedge On The Forced Sale... Via Ross Norman of Sharps Pixley, The gold futures markets opened in New York on Friday 12th April to a monumental 3.4 million ounces (100 tonnes) of gold selling of the June futures contract in what proved to be only an opening shot. The selling took gold to the technically very important level of $1540 which was not only the low of 2012, it was also seen by many as the level which confirmed the ongoing bull run which dates back to 2000. In many traders minds it stood as a formidable support level... the line in the sand. Two hours later the initial selling, rumoured to have been routed through Merrill Lynch's floor team, by a rather more significant blast when the floor was hit by a further 10 million ounces of selling (300 tonnes) over the following 30 minutes of trading. This was clearly not a case of disappointed longs leaving the market - it had the hallmarks of a concerted 'short sale', which by driving prices sharply lower in a display of 'shock & awe' - would seek to gain further momentum by prompting others to also sell as their positions as they hit their maximum acceptable losses or so-called 'stopped-out' in market parlance - probably hidden the unimpeachable (?) $1540 level. The selling was timed for optimal impact with New York at its most liquid, while key overseas gold markets including London were open and able feel the impact. The estimated 400 tonne of gold futures selling in total equates to 15% of annual gold mine production - too much for the market to readily absorb, especially with sentiment weak following gold's non performance in the wake of Japanese QE, a nuclear threat from North Korea and weakening US economic data. The assault to the short side was essentially saying "you are long... and wrong". Futures trading is performed on a margined basis - that is to say you have to stump up about 5% of the actual cost of the gold itself making futures trades a highly geared 'opportunity' of about 20:1 - easy profit and also loss ! Futures trading is not a product for widows and orphans. The CME's 10% reduction in the required gold margins in November 2012 from $9133/contract to just $7425/contract made the market more accessible to those wishing both to go long or as it transpired, to go short. Soon after we saw the first serious assault to the downside in Dec 2012, followed by further bouts in January 2013 - modest in size compared to the recent shorting but effective - it laid the ground for what was to follow. One fund in particular, based in Stamford Connecticut, was identified as the previous shorter of gold and has a history of being caught on the wrong side of the law on a few occasions. As baddies go - they fit the bill nicely. The value of the 400 tonnes of gold sold is approximately $20 billion but because it is margined, this short bet would require them to stump up just $1b. The rationale for the trade was clear - excessively bullish forecasts by many banks in Q4 seemed unsupported by follow through buying. The modest short selling in Jan 2013 had prompted little response from the longs - raising questions about their real commitment. By forcing the market lower the Fund sought to prompt a cascade or avalanche of additional selling, proving the lie ; predictably some newswires were premature in announcing the death of the gold bull run doing, in effect, the dirty work of the shorters in driving the market lower still. This now leaves the gold market in an interesting conundrum - the shorter is now nursing a large gold position and, like the longs also exposed - that is to say the market is polarised between longs and shorts and they cannot both be right. Either the gold bulls - like in a game of tug-of-war - pull back and prompt the shorters to panic and buy back - or they do nothing, in which case the endless stories about the "end of gold" will see a steady further erosion in prices. At the end of the day it is a question of who has got the biggest guns - the shorts have made their play - let's see if there is any response from the longs to defend their position.
On Inventories... Via Mark O'Byrne of Goldcore, Gold futures with a value of over 400 tonnes were sold in hours and this is equal to 15% of annual gold mine production. The scale of the selling was massive and again underlines how one or two large banks or hedge funds can completely distort the market by aggressive, concentrated leveraged short positions. It may again be the case that bullion banks with large concentrated short positions are manipulating the price lower as has long been alleged by the Gold Anti Trust Action Committee (GATA). The motive would be both to profit and also to allow them to close out their significant short positions at more advantageous prices and possibly even go long in anticipation of higher prices in the coming weeks. Those with concentrated short positions may also have been concerned about the significant decline in COMEX gold inventories. The plunge in New York Comex’s gold inventories since February is a reflection of increased demand for the physical metal and concerns about counter party risk with some hedge funds and institutions choosing to own gold in less risky allocated accounts. Comex gold bullion inventories have slumped 17% already in 2013, falling to just 286.6 metric tons of actual metal on April 11, the lowest since September 2009. This means that futures speculators on Friday sold a significant amount of more paper gold, in an hour or two, then the entire COMEX physical gold bullion inventories. Interestingly, the drop in Comex inventories would be the biggest for a whole year since 2001, when bullion began its secular bull market. Absolutely nothing has changed regarding the fundamentals of the gold market and bullion owners are advised to again focus on the long term and the vital diversification benefits of owning gold over the long term. Although some Federal Reserve policy makers said that they probably will end their $85 billion monthly U.S. bond purchases sometime in 2013. The key word is ‘probably’ and it remains unlikely that the Federal Reserve will stop their debt monetisation programmes any time in 2013 or even in 2014. Even if the Fed did end them, ultra loose monetary policies and negative real interest rates are set to continue as are competitive currency devaluations and currency wars - two other fundamental pillars supporting the precious metal markets. Buyers are now presented with another very attractive buying opportunity. We always caution against trying to “catch a falling knife” and buyers should hold off until we get a few days of higher closes or a weekly higher close. Alternatively, they should consider dollar, pound or euro cost averaging into a position at these levels. Sellers should consider holding off as if contemplating selling they may have missed their opportunity and if they have to sell they may be best placed holding off until prices bounce or recover. Sellers are now disadvantaged both in terms of price but also in terms of premiums that have spread on some physical bars such as one kilo bars. In the course of gold’s bull market, vicious sell offs like this have often presaged material weakness in stock markets and this may occur again. Gold’s ‘plunge’ is now headline news which is bullish from a contrarian perspective. Less informed money is again selling gold or proclaiming the end of gold’s bull market. The smart money such as certain hedge fund managers, high net worth individuals, pension funds, family offices, institutions and creditor nation central banks and will see this vicious sell off as an absolute gift and will accumulate again on this dip. A long term allocation to physical gold bullion to hedge systemic and monetary risk remains vital.
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04-16-13 | PATTERNS | PRECIOUS METALS |
GOLD CRASH - About Preserving Negative US Real Rates and US$ A "Fed-orchestrated smash" of gold. 04-12-13 Dr. Paul Craig Roberts interview at King World
This is an orchestration (the smash in gold). It’s been going on now from the beginning of April. Brokerage houses told their individual clients the word was out that hedge funds and institutional investors were going to be dumping gold and that they should get out in advance. Then, a couple of days ago, Goldman Sachs announced there would be further departures from gold. So what they are trying to do is scare the individual investor out of bullion. Clearly there is something desperate going on.... “I have assumed from the beginning that it is the Fed’s concern with the dollar because the dollar is being printed in huge quantities at the same time that other countries are abandoning the use of the dollar as international payment. The exchange value of the dollar is (being) threatened, and if that collapses the Fed loses control over interest rates. Then the bond market blows up, the stock market blows up, and the banks that are too big to fail, fail. So it’s an act of desperation because they’ve got to establish in people’s minds that the dollar is the only safe place, it is the only safe haven, not gold, not silver, and not other currencies. And to help protect this policy they have convinced or pressured the Japanese to inflate their own currency. The Japanese are now going to print money like the Fed. They are lobbying the ECB to print more. So I see this as a dollar protection policy. ...I know where the gold is coming from in the market, it’s just paper. It’s naked shorts, there is no gold there. If somebody wanted to take delivery on those contracts nobody would be able to provide it. I don’t know what the source of the (physical) gold is. Some people are saying that the actual stocks available for possession are rapidly declining.” Eric King: “Going forward, Dr. Roberts, what do you expect out of all of this? If the gold is coming out of Western central bank vaults and flowing to the East, the old saying is, ‘So goes the gold, so goes the power.’” Dr. Roberts: “Well, I think the power of the West has already been lost. When you have off-shored your manufacturing and professional service jobs, you’ve hollowed out your economy. So gold or no gold, the United States economy has been severely damaged and I don’t think it can recover. This gold business (smash in price) is something to do with the dollar. They are trying to save this Federal Reserve policy of negative real interest rates. You can’t do that if the dollar loses value relative to gold because it implies it should be losing value relative to other currencies. If the dollar’s exchange value drops, then the price of imports that come in here (to the US) rise. So you get domestic inflation, and if you have domestic inflation you can’t have zero interest rates, or negative real interest rates. So the Fed would lose control and that’s the basis of this policy. They are trying to destroy gold as a (safe) haven from the dollar in order to carry on the Fed’s policy of negative real interest rates. That is what is driving the illegal policy of selling naked shorts in order to manipulate a market. If you and I were to do something like this without the government’s instruction or protection, we would be arrested (laughter ensues). So the fact that it’s illegal, being done by the authorities, tells me that they are seriously worried about the dollar.” SOCGEN TECHNICAL ANALYST: Gold Is Going To Crash To $1265 In The Next 3 Months 04-15-13 BI Société Générale analyst Stephanie Aymes says next stop is $1265, and we should expect it in 1-3 months. |
04-16-13 | PATTERNS | PRECIOUS METALS |
GOLD IN JPY - Something Broke When Japan Went Full Retard All Abe-Inspired "Gold-In-JPY" Buyers Now Underwater 04-15-13 Zero Hedge Japan is opening ugly - the commodity rout continues with rubber, gold ($1325), and copper all down hard and stocks also being hit as liquidations continue. JGBs are modestly bid 1-2bps (though fading). JPY's bounce off the after-hours spike is fading... JPY was its strongest at the start of October - and then the new Abenomics plan began. Very quickly the "long of gold in JPY terms" trade became extremely popular. After an impressive 16.4% rise into mid-February, gold-in-JPY corrected modestly; but the BoJ-inspired action smashed gold-in-JPY back up to its recent highs (helped by the seeming capitulation is JPY longs on the bigger-than-expected QQE). This appears to be the last straw on this trade. With JPY shorts so extremely positioned, the small rally on Thursday/Friday in JPY sent many scrambling to cover and, along with the need to unwind any and every asset to cover cash needs for JGB volatility, the avalanche began in gold-in-JPY. In 2 days, the entire Abe-inspired 'rally' in gold-in-JPY has been undone and all post-Abe buyers are now underwater. Whether this marks a short-term capitulation of these positions is unclear but CTFC CoT this week will be intriguing - and further JGB vol will not help. The rally in JPY of the last two days is the largest in 35 months - so someone clearly broke something... Gold in JPY has retraced all its post-Abe gains... It would appear that it is no longer moving from the lower left to the upper right... and JPY is rallying faster than it has in 35 months... and Gold is plunging on the Japanese open (as margin calls flush a few more out)... Japanese interest rate volatility is surging higher and gold is being sold to match it still (as we discussed here).. Something broke when the BoJ went full retard... Charts: Bloomberg |
04-16-13 | PATTERNS | PRECIOUS METALS |
WHISTLEBLOWER MACQUIRE - About LBMA Default Maguire - LBMA Default Triggered Gold & Silver Takedown 04-15-13 King World With massive selling once again in the gold and silver markets, today whistleblower Andrew Maguire told King World News the reason for the recent takedown in gold and silver was because of an imminent LBMA default. Maguire: “Gold and silver only have this type of selling when there are extreme shortages of the physical metal. I am totally aware that before this takedown occurred there was an imminent LBMA default. We had already seen COMEX inventories plunging. In 90 days COMEX inventories saw an incredible decline. So immediately available physical gold was disappearing. People around the world don’t understand what has been happening since Cyprus. “Entities went to the LBMA and said, ‘We don’t trust anybody anymore. We want our physical metal.’ They were told they would be cash settled instead by a bullion bank. The Western governments have been trying to plug holes, and the reason for it has to do with the default that was taking place at the LBMA. This is why this smash has been orchestrated because of the run that has been taking place on physical metal. So Western governments had to do this because of an imminent run on the unallocated LBMA system. The LBMA bullion banks had become so mismatched at one point on their trading positions vs real world demand that they had to orchestrate this smash. This orchestrated smash in gold and silver was nothing short of a bailout for the bullion banks. So there is a run on physical gold that is taking place and the Ponzi scheme the West is running is being threatened because of it.” Maguire also added: “We are nearing the end of this decline. Physical demand is already beginning to catch up with leveraged paper. If gold were to trade into the low $1,300s it would be unsustainable for very long.” |
04-16-13 | PATTERNS | PRECIOUS METALS |
GOLD ANALYSTS - Why is Gold Crashing Why Is Gold Crashing? 04-15-13 Washingtonsblog Gold Crashes Most in 30 Years … What Does It Really Mean?Gold has fallen off a cliff. It has fallen faster than at any time in the last 30 years. Zero Hedge notes:
(Margin calls tend to trigger further selling.) Some Say It Is a Good Time to BuyWhile most financial advisers are screaming “sell!”, there are some well-known contrarians. For example, Bill Gross still recommends buying gold. Marc Faber says:
John Hathaway of Tocqueville Funds (with $10 billion under management) says that the selloff in gold is “a contrarian’s dream scenario”:
And Zero Hedge notes that – from the perspective of technical analysis – gold is the most oversold it has been in 14 years. The Bearish ExplanationBut why has gold crashed? Bloomberg blames:
Citigroup opines:
Business Insider argues:
Barry Ritholtz writes:
The Gold Bugs ViewGold bugs, on the other hand, see things quite differently. Andrew Maguire says that the crash is solely in the paper gold market … and that there is actually a shortage of physical gold. Many other sources make the same claim. Egon von Greyerz – founder and managing partner at Matterhorn Asset Management – argues:
London bullion dealer Sharps Pixley thinks that the crash was largely initiated by a single entity:
Gold Core’s Mark O’Byrne agrees. James Rickards thinks the Fed is manipulating the gold market (and every other market). Former assistant Treasury Secretary Paul Craig Roberts says:
Roberts also says:
Indeed, this may tie into the Federal Reserve leak of insider information. Specifically, Roberts writes:
As Congressman Grayson pointed out in a recent letter, right after the Federal Reserve’s Open Market Committee leaked valuable inside information to big banks, Goldman told its clients:
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04-16-13 | PATTERNS | PRECIOUS METALS |
MOST CRITICAL TIPPING POINT ARTICLES THIS WEEK -Apr 14th - Apr 20th 2013 |
RISK REVERSAL | 1 | ||
JAPAN - DEBT DEFLATION | 2 | ||
BOND BUBBLE | 3 | ||
EU BANKING CRISIS |
4 |
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SOVEREIGN DEBT CRISIS [Euope Crisis Tracker] | 5 | ||
CHINA BUBBLE | 6 | ||
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MACRO News Items of Importance - This Week | |||
GLOBAL MACRO REPORTS & ANALYSIS |
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GLOBAL RISK - Situational Analysis The Complete Chartpack Of The Top Global Themes For The Next Five Years 04-12-13 Jawad Miam, TGSF Advisors The investment environment is changing at a rate that's representative of global economic imbalances, fund flows, and geopolitical risks. We believe this decade will continue to witness greatly increased volatility and instability in the economies of the world and the global financial system. Very few past models are still valid (and most have been proved 'empirically' in real-time to be entirely fallacious). Such a situation has contributed to the extreme uncertainty that currently prevails. Our guiding principle is to help investors understand and navigate through all the complexities of an unstable, inflation-prone world. The following ten themes will be key drivers of financial market performance over the next 1 to 5 years.
World at a glance In the investment world, anyone who foresees and understands the trends, who is openminded, and who keeps emotions at bay, The structural backdrop for a global macro strategy
"The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future." - Lord Keynes Full presentation below: |
04-15-13 | GLOBAL RISK |
GLOBAL MACRO |
US ECONOMIC REPORTS & ANALYSIS |
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CENTRAL BANKING MONETARY POLICIES, ACTIONS & ACTIVITIES | |||
Market Analytics | |||
TECHNICALS & MARKET ANALYTICS |
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COMMODITY CORNER - HARD ASSETS | |||
GOLD - The Attack of the Fiat Currrency Cartel First Bitcoin, Now Gold: All Alternative Currencies Must Be Crushed 04-12-13 Zero Hedge Gold prices just entered a bear market. Down 21% from their mid-2011 highs. Today's drop is the largest since 2/29/12 - LTRO2 and takes the price of the barbarous relic back to July 2011 lows. Silver is also seeing its biggest down-day since LTRO2 as it tests 2012 lows. Must. Destroy. All alternative currencies. A bad day for commodities...
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04-15-13 | GOLD | PRECIOUS METALS |
GOLD - Japanese Interest Rate Volatility Correlation Japanese Bonds vs Gold: Is This Why Commodities Are Selling Off? 04-12-13 Zero Hedge Japanese bond volatility appears to have crossed the Rubicon. As we noted here, the Japanese Ministry of Finance warned that a rise in JGB volatility could cause a significant sell-off in JGBs (since banks will be hampered by their VaR models-driven risk limits, which have literally gone off the charts in recent days, and be forced to reduce holdings to meet those risk limits). It seems however, that since the BoJ is set to buy more JGBs than will be issued in the next several years as noted yesterday, that financial institutions are chosing to live with the record vol noted previously, opting to raise cash buffers and liquidity reserves instead of selling bonds in order to meet surging margin demands on their JGB holdings. The synchronicity between the price of gold (and other commodities) and the volatility of Japanese bonds makes this risk-driven perspective very clear. This leaves the question, what happens when the Japanese (or in fact global - since front-running the BoJ has been a big winner until a week ago) banks run out of 'other' assets to sell and their VaR models continue to demand more capital in reserve? Since QE2, gold (and other commodities) have moved in inverted-lockstep with Japanese interest rate implied (and realized) volatility as the JGB margin demands oscillate. Charts: Bloomberg |
04-15-13 | GOLD | PRECIOUS METALS |
GOLD - 2 Year Consolidation Pattern Ending Gold's Bull Market is Not Over 04-14-13 Robert McHugh Gold is Headed Much Higher. This is Why.Gold's Bull market from 1999 is not over, and a huge rally leg remains in its future. That future is not far off. This article presents why the market is telling us Gold could reach 3,000 before the Bull Market ends. Above we show the big picture for Gold. Gold bottomed July 20th, 1999, wave II's bottom. Since then, wave III up has been one of the all-time greatest Bull Markets in Gold. The question this weekend is, is Gold's big Bull market from the July 20th, 1999 low of 252.80 over? Our Elliott Wave analysis shown above says no, the Bull Market rally in Gold is not over. Wave III so far has taken Gold up 1,670 points to the September 6th, 2011 all-time high of 1,923, which was a 761 percent gain in 12 years. There are many reasons we do not believe Gold has topped, and believe that Gold has much higher to go. Wave threes that are not part of a triangle pattern (sometimes they can be) are impulsive, meaning they move the price vertically. These impulsive wave threes (in this case wave III) are made up of five subwaves. Above we can clearly see that wave III so far has only produced four subwaves. This means there has to be a fifth wave coming, a rally leg. In stocks, typically wave threes are the most dramatic. In precious metals, typically, wave fives are the most dramatic. Above we see that wave 4 is mature, and wave 5 up is next. We believe the consolidation over the past two years has been a wave 4 pattern, which includes a descending triangle pattern. It has been forming for 19 months. Wave 2 shown above was a zigzag decline. The principle of alternation suggests that the patterns for corrective waves 2 and 4 should form different patterns. Clearly that has occurred, which legitimizes the above count, and supports the need for a coming wave 5 within wave III. If the coming wave 5 is to be the most dramatic move, then it will have to take Gold higher by more than the 750 points that wave 1 produced, and likely more than the 1,200 points wave 3 up produced. It suggests Gold should head for a price target of 2,700 to 3,000 when the coming wave 5 up finishes. Above we get a closer look of corrective waves 2 and 4. They should be proportional in either time or price regression, or both, for this mapping to be correct. Wave 2 down took about 7 months and saw Gold fall a bit over 300 points. So far, wave 4 down has taken 19 months and taken 450 points off Gold. In terms of time, since this is a 14 year Bull market from 1999, those two waves pass the proportionality test, lending validity to the wave count. In terms of price decline, 300 points and 450 points are close relative to the 1600 points Gold rallied from 1999 to 2011. In percentage terms, wave 2 took Gold down 30 percent, and so far wave 4 has taken Gold down about 24 percent. Again, close. So we conclude that all waves from 1999 to 2013 are proportional as labeled, which supports the scenario that the decline from September 2011 is a wave 4 corrective decline inside a mega-rally bull market, that by definition of an impulsive wave's required subwaves, will be followed by a huge wave 5 up rally. Next, we want to study the pattern from 2011, labeled wave 4. We want to understand it, label it accurately, and project when it will end, and at what price it will end. Initially it looked as if wave 4 down was simply forming a five wave descending bullish triangle. However, Friday, April 12ths' nearly 100 point plunge broke decisively below the support shelf for such a triangle pattern, meaning something else is going on. There are a ton of overlapping waves in this pattern from September 2011, so we know it is corrective, and not the start of an impulsive Bear market in Gold. Gold has not topped, and is not in a Bear market. Let me be clear about that. What is happening is wave 4 decided to become more complex. Wave fours and wave b's are notorious for acting unpredictably, having a mind of their own, and metamorphosing from one pattern to another. However, by breaking the bottom boundary of the descending bullish triangle, a horizontal shelf that has served to stop declines several times over the past 19 months, clarity has arrived. Wave 4 has formed an a-down, b-up, c-down move, with a-down a smaller version of the descending bullish triangle, wave b-up rallied out of the triangle upon its conclusion in a three-wave {a}-up, {b}-down, {c}-up simple flat, followed by an impulsive wave c-down move which will bring about the conclusion of wave 4. Where and when will wave c-down of 4 bottom? One possibility is the intersection of the declining trend-channel for wave c-down we show in the second chart with the bottom boundary of the rising trend-channel from 1999 to 2013. That projects a bottom for Gold around 1,375ish to 1,400ish, around June, 2013, possibly sooner. The above labeling suggests wave {iii} down is underway, and waves {iv} up and {v} down are needed before Gold's wave 4 bottoms. While this is disappointing for Gold bugs, the good news is that once wave 4 completes, going long Gold should produce excellent returns. There is another reason we believe Gold is bottoming, and that is the position of the Weekly Full Stochastics, shown on the next page. The current levels are supportive for a bottom in Gold soon, and the start of a powerful rally. According to the above chart, Gold is about to start a strong rally. Since 2007, every time Gold's weekly Full Stochastic fell to the 20ish level, and the Fast crossed above the Slow, Gold began a rally that lasted at least two months, some times lasting longer, and rallied at least 150 points, at least 10 percent. Gold could rise 250 points during this next rally, the first leg of a five wave rally for wave 5-up. Gold is a safe haven during times of crisis. Political, military, financial, disease, or natural disaster events serve to boost Gold's value. The perception that these threats are likely serves to create demand for Gold. Fiat currency hyper-creation from central banks, as we see going on now, serves to boost the value of Gold. Economic crises that jeopardize the value of currencies serve to boost the value and demand for Gold. Should one nation decide to move its currency to a Gold standard, demand for Gold could exceed ready supply quickly. The world is a dangerous place, and Fiat monetization of sovereign debt borders on the irresponsible. These fundamental issues bode well for Gold's long-term value. |
04-15-13 | GOLD | PRECIOUS METALS |
THESIS Themes | |||
2013 - STATISM |
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2012 - FINANCIAL REPRESSION |
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2011 - BEGGAR-THY-NEIGHBOR -- CURRENCY WARS |
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2010 - EXTEN D & PRETEND |
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THEMES | |||
CORPORATOCRACY - CRONY CAPITALSIM | |||
GLOBAL FINANCIAL IMBALANCE | |||
SOCIAL UNREST |
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CENTRAL PLANNING |
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STANDARD OF LIVING |
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NATURE OF WORK | |||
CATALYSTS - FEAR & GREED | |||
WAR - In the Cards for 2014? Top Economic Advisers Forecast War and Unrest 04-10-13 Washingtonsblog Kyle Bass, Martin Armstrong, Larry Edelson, Charles Nenner, James Dines, Nouriel Roubini, Jim Rogers, Marc Faber and Jim Rickards Warn of War We’re already at war in numerous countries all over the world. But top economic advisers warn that economic factors could lead to a new world war. Kyle Bass writes:
Martin Armstrong writes this week:
Similarly, Larry Edelson wrote an email to subscribers entitled “What the “Cycles of War” are saying for 2013″, which states:
Former Goldman Sachs technical analyst Charles Nenner – who has made some big accurate calls, and counts major hedge funds, banks, brokerage houses, and high net worth individuals as clients – says there will be “a major war starting at the end of 2012 to 2013”, which will drive the Dow to 5,000. Veteran investor adviser James Dines forecast a war is epochal as World Wars I and II, starting in the Middle East. Nouriel Roubini has warned of war with Iran. And when Roubini was asked:
He responded:
Billionaire investor Jim Rogers notes:
Marc Faber says that the American government will start new wars in response to the economic crisis: We’re in the middle of a global currency war – i.e. a situation where nations all compete to devalue their currencies the most in order to boost exports. And Brazilian president-elect Rousseff said in 2010:
Jim Rickards agrees:
As does Jim Rogers:
And given that many influential economists wrongly believe that war is good for the economy … many are overtly or quietly pushing for war. Moreover, former Federal Reserve chairman Alan Greenspan said that the Iraq war was really about oil , and former Treasury Secretary Paul O’Neill says that Bush planned the Iraq war before 9/11. And see this and this. If that war was for petroleum, other oil-rich countries might be invaded as well. And the American policy of using the military to contain China’s growing economic influence – and of considering economic rivalry to be a basis for war – are creating a tinderbox. Finally, multi-billionaire investor Hugo Salinas Price says:
Indeed, senior CNBC editor John Carney noted:
Indeed, some say that recent wars have really been about bringing all countries into the fold of Western central banking. Many Warn of UnrestNumerous economic organizations and economists also warn of crash-induced unrest, including:
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04-15-13 | THEMES | CATALYSTS FEAR & GREED |
GENERAL INTEREST |
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If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner. DISCLOSURE Gordon T Long is not a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. Of course, he recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and barring that, we encourage you confirm the facts on your own before making important investment commitments. COPYRIGHT © Copyright 2010-2011 Gordon T Long. The information herein was obtained from sources which Mr. Long believes reliable, but he does not guarantee its accuracy. None of the information, advertisements, website links, or any opinions expressed constitutes a solicitation of the purchase or sale of any securities or commodities. Please note that Mr. Long may already have invested or may from time to time invest in securities that are recommended or otherwise covered on this website. Mr. Long does not intend to disclose the extent of any current holdings or future transactions with respect to any particular security. You should consider this possibility before investing in any security based upon statements and information contained in any report, post, comment or recommendation you receive from him
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