Happy New Year
As is obligatory for commentaries written on January 1, I offer my wish for readers to be healthy, safe, happy, and prosperous throughout the new year.
Bear's Lair
Bear Markets always follow Bull markets and a severe stock market correction is long overdue. Bears Lair will spot, monitor and analyze the stock market correction as it develops.
Here is our monthly update on major indexes for our international investors.
A friend was kind enough to send me the following link to an article dated October 10th 2008, written by Martin Armstrong.
Many people are very confused these days. They should be. Slowly the nation is coming to grips with a harsh reality that a garden variety recession has not dug its roots inside the body economic of the United States.
"One swallow does not a summer make". (Aristotle)
That may be true, but it's possible that I saw two swallows today, and "summer" is not the season occupying my mind at present.
The way things look it will soon be impossible - or very difficult and expensive - to obtain physical gold and silver.
“Time is more important than price; when time is up price will reverse.”
W.D.Gann
In an earlier article Backward Thinking on Backwardation I explained that backwardation in gold is the flipside of the phenomenon of a drastic contraction of world trade and employment.
Right now, the Treasury, the Federal Reserve, and the banking system seem to be gearing up for an event the likes of which has never been seen.
I can't complain. My wife and I have plenty to eat and we own our home outright.
On Monday, December 15, backwardation on gold was still in force at an annualized discount rate that narrowed to 1.55% in the December contract, but widened to 0.36% in the February contract.
The principal missing piece in the grand American mosaic of banking destruction, corrupt collusion, fraudulent bonds, Wall Street control, suppressed regulators, compromised ratings agencies is JUSTICE and REMEDY.
Over the past several days the dollar has gone into a severe decline, and this drop does not look like a reaction within an ongoing uptrend, as was the case in September, for as we can see on the 6-month chart it follows the develo
On Friday, December 12, backwardation on gold was still in force at an annualized discount rate hovering around 2% in the December contract, and 0.3% in February contract.
As most traders close out their books for the year it's looking like gold may be the best performing asset this year, but we still have a couple weeks to go.
Change is in the wind. The ratio of the gold shares to the gold price has now given an unequivocal buys signal - as can be seen from the following 3% X 3 box Point and Figure Chart (courtesy stockcharts.com)
The resource industry and market review I have prepared are the result of several queries from investors and associates in the past few months about my feelings and beliefs regarding the current debacle and what the future holds.
One of the more unusual manifestations of the financial meltdown this year has been the dollar spike, that caught a lot of traders by surprise, and was generated in part by a stampede into the percieved safety of short-expiry US Tr
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Minting of gold in the U.S. stopped in 1933, during the Great Depression.
