When the tech bubble burst in 2001, and the RE market bubble burst in 2007 no one pronounced them "dead asset" classes. Yet when gold has a correction after a long profitable run, suddenly its a dead asset class. Puleeze. Keynesians need to destroy gold as an asset class because they know its fiat money's biggest threat. Gold going to $5000 someday makes them lose sleep like nothing else.
Let interest rates start to climb and watch all hell break loose when that large mass on the Fed's books shift from static energy to kinetic when it gets rolling downhill.
37% of China's imports the last 12 months were gold. They don't want our paper after taking a beating with it especially the last few years, so who will buy it? Oh yes, the Fed. The one you said "did an outstanding job". The dollar's days are numbered.
Gold, Currency Dilution - And Should The Market Go Higher? [View article]
Not sure why the "smackdown", but the world is loaded with Keynesians (especially at the Central Banks, IMF) who see no value in the metals. Why naked shorts are legal in commodities trading mystifies me but its done and things like this can happen without holding the metal. You could speculate that they are leasing it, selling it but who knows. Many use it with no emotional attachment as a hedge for trades and no intent to hold the metal for investment.
What I have been seeing is strength in AU and Hong Kong metals market and selling in Zurich and London.
Gold, Currency Dilution - And Should The Market Go Higher? [View article]
If we believe the same financial and economic causes will have the same effects as in the past, namely excessive money printing and borrowing, then there is a course of action that is dictated: buy hard assets. That is the lesson of history, and for a very long time. PM's should be there at LEAST as a hedge for the unthinkable. Don't go wobbly and fall for the short sighted view of the all-is-well-with-the- dollar crowd. Project where it all will lead if policies do not change and its not pretty. Its a Potemkin Village that they are portraying.
Gold, Currency Dilution - And Should The Market Go Higher? [View article]
Just because inflation has not happened yet doesn't mean people like Schiff are wrong. The Fed's bloated balance sheet has been described as "static energy" that is growing in mass. When it gets rolling that static energy becomes kinetic, then watch out. To people like Schiff its not a matter of IF but WHEN it happens, and the fact that it has not happened yet does not negate the point. Perhaps it would be useful to spend time reading about the effect of excessive money printing in post WW1 Germany, or Zimbabwe.
First Majestic Silver: Strong Growth, Strategic Genius [View article]
Any ideas on whats going on at GORO not putting out their 2012 Annual Report yet, and an NI 43-101 report that doesn't include reserve estimates. Strange goings on over there.
Worried About A Silver Selloff? Buy Silver Wheaton Instead [View article]
I was going to suggest sticking with the streamers like SLW. No mining headaches to deal with. Be real careful with leveraged ETFs. They can clean your clock fast.
Worried About A Silver Selloff? Buy Silver Wheaton Instead [View article]
I'll put in my two cents. There are many scenarios that determine what a mining co will do depending on their situation so its impossible to list them. There are stages of shutting down for mines. Usually its put on maintenance first. They may try to sell it off by soliciting bids for it if its attractive to other miners, especially in the area, or wait for the conditions that led to idling it to turn around. But funds, or the lack of them may ultimately decide what they do.
Much depends on situations that they may not be able to control, like the spot price, the strength of the USD, political, financing, or labor issues.
#1 only consider miners with current PRODUCTION. #2 only consider low production cost miners. They will do better if the spot prices fall. #3 avoid high risk areas like Argentina and S. Africa. #4 try to get an idea of the competence of the management.
I was in NG a few years ago but got out when Barrick vacillated. Its a huge resource, but far from production and any miner in the development stages will miss the coming move in PM's, IMO. I have not followed NG for a while so I can't give you any advice on them.
Gold Going To $500? [View article]
http://bit.ly/19RmWUf
Gold Going To $500? [View article]
Gold Going To $500? [View article]
Gold Going To $500? [View article]
37% of China's imports the last 12 months were gold. They don't want our paper after taking a beating with it especially the last few years, so who will buy it? Oh yes, the Fed. The one you said "did an outstanding job". The dollar's days are numbered.
MannKind's Afrezza Likely To Easily Gain Approval [View article]
Gold, Currency Dilution - And Should The Market Go Higher? [View article]
What I have been seeing is strength in AU and Hong Kong metals market and selling in Zurich and London.
Gold, Currency Dilution - And Should The Market Go Higher? [View article]
Gold, Currency Dilution - And Should The Market Go Higher? [View article]
Palladium Supply Deficit Likely To Continue Until 2017 [View article]
Palladium Supply Deficit Likely To Continue Until 2017 [View article]
http://bit.ly/17qc8j9
Palladium Supply Deficit Likely To Continue Until 2017 [View article]
First Majestic Silver: Strong Growth, Strategic Genius [View article]
First Majestic Silver: Strong Growth, Strategic Genius [View article]
Worried About A Silver Selloff? Buy Silver Wheaton Instead [View article]
Be real careful with leveraged ETFs. They can clean your clock fast.
Worried About A Silver Selloff? Buy Silver Wheaton Instead [View article]
There are many scenarios that determine what a mining co will do depending on their situation so its impossible to list them.
There are stages of shutting down for mines. Usually its put on maintenance first. They may try to sell it off by soliciting bids for it if its attractive to other miners, especially in the area, or wait for the conditions that led to idling it to turn around. But funds, or the lack of them may ultimately decide what they do.
Much depends on situations that they may not be able to control, like the spot price, the strength of the USD, political, financing, or labor issues.
#1 only consider miners with current PRODUCTION.
#2 only consider low production cost miners. They will do better if the spot prices fall.
#3 avoid high risk areas like Argentina and S. Africa.
#4 try to get an idea of the competence of the management.
I was in NG a few years ago but got out when Barrick vacillated. Its a huge resource, but far from production and any miner in the development stages will miss the coming move in PM's, IMO. I have not followed NG for a while so I can't give you any advice on them.