Global Market Commentary, Analysis and Investments
Dow down slightly yesterday. Oil falling further below $100. And gold still going up.
What is most interesting is the movement in the price of gold. It seems to be heading up again — almost no matter what else is happening.
So, let’s look at what might be going on…
If investors sensed a recovery…they would expect banks to lend more freely…people to shop more freely…and prices to rise.
[Read more...]Stocks are up today. The major indexes have jumped 1%… for no obvious reason.
There’s talk of a halo effect from the pending IPO of Facebook, which could file the paperwork as early as today.
Oy… Talk about “riding on a smile and a shoeshine,” to borrow from Death of a Salesman.
[Read more...]My friend Brent Cook is buying gold right now… But not for the reasons you’d expect.
Brent is no “doom and gloom” gold bug. He doesn’t think the dollar is going to collapse any time soon.
Brent simply knows the world is running low on gold… which could drive the price of his favorite stocks much, much higher.
[Read more...]At my age, I have pretty much figured out that people don’t like me because they fear me.
I don’t know why, exactly, but perhaps they fear me because I am a cynical, paranoid, gold-bug old man who thinks that the Federal Reserve has turned into an evil institution by creating So Freaking Much Money (SFMM), now so that it can commit the sin of monetizing new government debt by the truckload, increasing the money supply and guaranteeing a roaring inflation that hurts the poor, and hurts the almost-poor, and hurts the not-quite-poor, and (now that I think about it) it hurts everybody, which hurts me personally because they come whining to me to give them some of MY money!
[Read more...]From Chartoftheday.com we get the Quote of the Day, which is from the legendary Will Rogers, who cleverly said, “The fellow that can only see a week ahead is always the popular fellow, for he is looking with the crowd. But the one that can see years ahead, he has a telescope but he can’t make anybody believe that he has it.”
[Read more...]According to Harper’s Index, the “estimated value of Chinese household income that goes unreported is $1.4 trillion.”
To put it in perspective, the follow-up item is “Portion of China’s GDP this represents: 1/3.”
Of course, I don’t know what to make of this, economics-wise or any other wise, but merely note with a soft whistle of appreciation that that is a LOT of money unaccounted for, and which does not show up in official statistics, which means that somebody is seriously underestimating something, which means that trouble is usually ahead.
[Read more...]Since I am known as something of a gold bug, a lot of people write to me about gold, but since I am a paranoid lunatic, I don't read their letters, mostly because I now call myself Marvelous Macho Grande (MMG), figuring that an established alias could potentially come in handy when the prices of gold, silver and oil shoot higher and higher as inflation in consumer prices starts going parabolic as a result of the despicable Federal Reserve creating so, so, so much money, especially so that the despicable federal government can borrow and spend that selfsame so, so, so much money.
[Read more...]I remember the good old days of the Cold War when the Russians were humorless robots who could always manage to catch James Bond, a British secret agent better known by his “License to Kill? number: 007.
But the clumsy, doltish Russians could never hold onto him, and in the process, a lot of Russian secret agents, soldiers, miscellaneous employees, assorted affiliates and innocent bystanders all died, usually in a blaze of gunfire or explosions of some kind.
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Buying Gold on the Dips
The currencies and metals added to their gains yesterday as the day went along. The euro (EUR) traded briefly at 1.32, and the Aussie dollar (AUD) traded through $1.04. There were more Fed heads speaking, and Fed Head William Dudley agreed with Fed Head Janet Yellen, who had said the previous day that keeping interest rates near zero through 2014 was needed. Dudley said, “I haven’t seen any set of information that should suggest to me we should change that view.”
[Read more...]