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Archive for June, 2013

GOING DARK! ECONOMIC CYCLES POINT DOWNWARD

June 28th, 2013 No comments

Dark

Unsustainable trends can survive much longer than most people anticipate, but they do end when their “time is up” – at the culmination of their time cycles. Examples of these trends include deficit spending, exponential debt increases, overpriced bond markets, and unbacked paper currencies, to name a few. At this point, we have enough confirmation to accept that the precious metals crash – starting in April of 2013 – was the first warning of what is coming globally.

Going Dark! Economic Cycles Point Downward

 

 

 

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Gold Drops to Nearly 3-Year Low in Strong Sell-Off Late; Sell Stops Hit

June 28th, 2013 No comments

June 27 2013

Comex gold futures prices dropped sharply in late U.S. trading Thursday and hit another fresh nearly three-year low below $1,200.00. Pre-placed sell stop orders were triggered on the down-move, to exacerbate selling pressure. The steep price decline coincided with reported remarks from Atlanta Federal Reserve President Dennis Lockhart. Comex August gold was last down $28.70 at $1,201.10 an ounce. Spot gold was last quoted down $23.40 at $1,202.50. July Comex silver last traded down $0.142 at $18.445 an ounce.

There is no doubt at all the gold bulls are taking a big whipping at present. However, if market price history repeats itself (which it most certainly will), the gold market will overdo itself on the downside (as all commodity markets do during major bear market sell-offs) and then prices will rebound and embark upon a new price uptrend. Such has been the cycle of raw commodity markets dating way back in time.

Gold Drops to nearly 3 Year Lows in Strong Sell Off Late

 

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Stunning Images From China: Ten Thousand People Waiting In Line To Buy Gold

June 19th, 2013 No comments

Gold Line 1_0

June 11, ten thousand people line up in front of a gold shop to buy gold. The buyers lined up during the three day Dragon Boat Festival.

While the paper price of gold and silver took a sharp drop in April, it’s clear that demand in the real world is soaring. This picture was taken in Jinan which depicts some 10,000 Chinese citizens lining up to buy physical gold, providing all the evidence you need for the argument that gold is, in fact, money.

Source : Zerohedge Ten Thousand people waiting to buy gold

 

 

 

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World Gold Council: Beyond the 2013 Milken Institute Global Conference

June 15th, 2013 No comments

Published on Jun 13, 2013

Leaders from the World Gold Council reveal how, in the weeks since the Milken Institute Global Conference, discussion has focused on gold’s ability to curb risk and inspire development in a volatile economy.

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Get ready to be “Cyprused” coming to a bank near you.

June 4th, 2013 1 comment

cyprused

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Reuters) – Central bank forum the Bank for International Settlements laid out a blueprint on Sunday for how to recapitalize a major lender in the event of a failure, seeking to avoid the sort of chaotic ad hoc rescues seen since 2008′s financial crash.

Under the template laid out by BIS, which is termed a creditor-funded recapitalization mechanism, the bank would undergo a forced recapitalization by its creditors when it reaches the point of failure.

The ownership of a bank would be transferred to a newly created temporary holding company over a weekend. The bank is then immediately recapitalized by writing off the claims of creditors.

Europe is pushing ahead with plans to implement a “bail-in” regime that would see bondholders and big depositors take hits.

Source : Reuters-BIS Blueprint

 

 

 

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A major buying opportunity in gold may be at hand

June 4th, 2013 No comments

Gold Buying

 

 

 

 

 

 

 

 

 

 

 

 

 

Recent declines in the price of gold have been met by huge surges in demand for physical gold which has proven much more difficult to get a hold of than paper gold which has been figuratively tossed out the window. Thus the paradox of declining paper gold prices versus surging physical demand where steep drops in gold have not led to the wholesale dumping of physical metal. Rather the opposite has occurred. This has resulted in relatively high premiums for physical precious metals, in particular for the “poor man’s gold,” silver.

Excerpt : A major buying opportunity in gold may be at hand

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Peter Schiff : Fed’s Advisory Council Admits We’re Screwed

June 2nd, 2013 No comments

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