Trader Dan:
"Gold priced in terms of the British Pound is surging higher being reinforced in its upward trajectory by news that the Bank of England was further expanding its bond purchase program (Read this as its version of QE). This is more evidence that nearly the entirety of the Western World Major Central Banks are completely engaged in the process of adulterating their currencies." 
"While hardly discussed broadly in the mainstream media, the top news of the past 24 hours without doubt is that in addition to losing its fiscal sovereignty, and numerous other things, the Greek population is about to lose its gold in a perfectly legitimate fashion, following amendments to the country's constitution by unelected banker technocrats, who will make it legal for Greek creditors - read insolvent European banks - to plunder the Greek gold which at last check amounts to 111.6 tonnes according to the WGC." 
TF Metals: "I going to step out on a limb here and offer a prediction for the next week or so:
"I'm with Uncle Ted, Jim Willie and others who think that physical silver in size is in short supply right now. Combine that with the way the "options delivery February expiration" has gone according to Harvey and I think we are set up for a month-end raid. I hope that I'm dead wrong and silver explodes higher for everyone but, please, hear me out.
"As you can see on the chart above and as documented here ad nauseam, after quickly rising from $26 to $34 in a matter of weeks, silver has been aggressively capped below $34.40 for nearly four weeks. The question you must ask yourself is: WHY? I think it's all about March expiration and limiting those standing for delivery.
"Even though the MFingGlobal disaster has seriously dwindled the amount of Comex participation, the supply squeeze that Uncle Ted mentions is causing the EE some sleepless nights. Silver continuing its January advance through February would only exacerbate the problem. Thus the cap. And how does the cap get put in place? Through a rapidly increasing, EE net short position? Is that the case, too? Yes, it is."
{click over to see the rest of the analysis and charts. worth the time} Jim Sinclair:
"Let me share with you the conclusion I took away from today’s luncheon.
"1. What is going to happen is going to take place in March somewhere between the 14th and 20th in all probability.
"2. What will determine the fate of markets is what action China does or does not take in providing funds to IMF bailout funds.
"3. I believe China can and will extract significant trade and other benefits for their presence.
"4. I believe China will want the same immunity that the IMF just took for themselves on sovereign debt in liquidation.
"5. Greek gold will be held hostage to their debt.
"7. There will be an acceleration in the trend of utilization of other currencies than the dollar for contracting internationally regarding goods, service, oil and minerals.
"8. I do not agree that we are at the doorstep now of major changes in the international monetary system. That comes in June of 2015.
"9. I am certain that we are on the immediate threshold of the monster kick of the financial can down the road that is a dead end.
"10. I believe China and the US Fed will assist in that great last can kick that backfires.
"11. I am certain that I am in the right business and that business is the identification and accumulation of gold as gold is the ultimate survivor of what is about to happen.
"12. I am certain the gold industry is mad as a Danbury hatter in selling their product the moment they produce it.
"13. I am certain the gold and silver industry is in a transition back to the dividend producers they once were.
"14. I am certain that the volatility in gold, silver and equities we have already seen is nothing compared to what is about to happen.
"15. The last man standing among asset categories as the new monetary system is introduced sometime post June of 2015 will be gold and gold alone."
{please click over are read his full post and conclusions} 
Mike Cane: "Let’s get something straight here: It is our right as American citizens to protest.
"All of you should be wondering why tens of millions of dollars — of our own money! — have been spent in police overtime and weaponry (rubber bullets, gas, tasers) to disrupt, remove, and suppress our own people who have a very real and valid grievance.
"While I have your attention: The economy is in no way getting better. The mainstream media is trying to pave the way for a second term by Obama. If you want the real score, just keep watching Greece.
"Greece is our future too." 
"The following are 8 reasons why the Greek debt deal may not stop a chaotic Greek debt default....
"#1 Greece Is Being Set Up To Fail
"The terms of this new debt deal impose some incredibly harsh austerity measures on Greece and from now on the Greek government will be subject to "permanent monitoring" by EU officials.
"In other words, they will be under a microscope.
"Any violation of the terms of the debt deal could be used as a pretext to bring down the hammer and cut off bailout funds. Potentially, this could even happen just a few weeks from now.
"It has become obvious that there are many politicians in Europe that would very much like to kick Greece out of the euro." 
"The big story last week, “French Champagne Maker Finds $1 million in US Gold Coins”. I agree, this is big news but the big story is not the find, not the number of coins either. The big story is why the media doesn’t question how $10,000 in face value gold coins (497 coins x $20) are now worth nearly $900k in melt value gold. If you own silver or gold, or thinking of buying PM, you must take a moment to wrap your mind around this story or better yet, lack of story. The value of future gold is written between each line but only obvious to those willing to accept gold as money. This type of news only proves my decision to trade dollars for PM back in 2002 was as wise now as ever before."
{Indeed, they don't get it. Or really, don't want you to get it.} 
"Once risk has been disconnected from consequence, then it is impossible to discover the price of capital and risk. Once capital and risk have been mispriced, then the inevitable result is misallocation of capital and a positive feedback loop of self-referential, self-reinforcing risk.
"This can be illustrated by imagining yourself in a casino where a consortium will guarantee your losses up to $1 million. We call the disconnect of risk from the resulting gain/loss "moral hazard," and to understand the ramifications of moral hazard, we need only compare the actions of two gamblers in the casino: one is using his own money, the other has none of his own capital at risk, and his losses will be covered up to $1 million." 
Best quote:
"Whether or not it would achieve what the USPS hopes, it probably doesn’t matter given that asking Congress for greater operational flexibility is like asking a two year old to stop playing with their food." 
"I'm sure everyone reading this is aware that the NAR recently revised lower all existing housing sales as reported from 2007 through October 2011 by 14%. Think about that for a minute. It means that over 7 of every 100 home sales reported over a nearly 5 year time span was total bullshit. They didn't exist. Poof. Think about the implications of that. Housing market finance businesses and realtors got rich off of that fraud because the NAR systematically created a perception of relative strength in the housing market that NEVER existed. Hundreds of thousands of people likely bought homes during that period because they thought the housing market was healthy and a good investment based on this data." 
"I always say the trend is your friend, and I believe China's increasing demand for gold is one trend that is just getting started. Although gold imports from Hong Kong were cut in half in December, HSBC Global Research reports that overall gold imports from Hong Kong were 10 times the historical average from January through November 2011. HSBC expects a continued rise in Chinese incomes will keep demand at a robust pace. The WGC sees domestic demand for gold jewelry and investment driving 20 percent growth in Chinese gold demand during 2012." 
When it comes to the debate on whether the United States is experiencing inflation, it is typically not a yes or no interchange.
Matt McCall:
"The bottom line is that keeping interest rates low did not work for Japan, and I don't believe it will for the U.S. The odds are that the U.S. will see inflation and it could lead to a term we should all fear: hyperinflation." 
Pento tells King World News:
"When you have your currency burning, your purchasing power is being ignited and inflated away. The first thing you do is run towards something the government cannot increase by fiat. Governments cannot increase the supply of precious metals. People run to gold and silver. They also run to oil and agriculture.
"I cannot believe investors look at the price of gold and the way it’s trading, continuously holding around $1,750, and people wonder why that’s the case. How could you possibly trust paper currencies when every central banker around the world is following the example of Al Capone?” |
Robert Fitzwilson tells King World News:
“Sometimes investors will ask, ‘How much of my assets should I have in gold?’ That’s the wrong question. The question should be, how much of your wealth are you willing too see destroyed? What this cycle is really all about is wealth preservation and gold is a way to protect your wealth." 
Trader Dan Norcini:
"There seems to be a type of stealth bull market in the platinum group as the metal begins moving up and regaining lost ground against the price of gold. The metal has been grinding higher since the beginning of the year and is currently up nearly $400 since then but has mostly gone unnoticed by the financial press."
{It's not been unnoticed by me. I've been tracking it for some time on my desktop with the widget from Lear Capital: http://ow.ly/78CMe It has continued to intrigue me and I think it is large part a relation to the economic woes. Dan goes on to make some valid points about the current rise} 
Caesar Bryan told King World News: 02/20/2012 Nick Dunbar, author of 'The Devil's Derivatives', reveals how the country turned to investment bank Goldman Sachs for help getting around the defi... 
And to think we have a President that got elected on the platform of getting us out of conflicts. 
"I was on a panel at the recent California Investment Conference in Palm Springs and the question was asked, "What percentage of your portfolio should be in gold bullion?"
"The first panelist answered 20%. The second panelist said, up to 30%. Then it came to me.
"I have no problem with someone having 100% of their portfolio in gold," I stated bluntly. Many in the crowd laughed. Their laughter confused me. What's so funny about that, I thought?
"I went on, "I think it's weird that people find my answer weird."
"GOLD IS REAL MONEY"
{the rest is a good read.} 
"Have you noticed that very few people in the mainstream media ever directly criticize the Federal Reserve? But why should that be the case? Criticizing top politicians from both major political parties has become a national pastime. Most Americans love to throw mud at either the Republicans or the Democrats. But we are told that the Federal Reserve is "above politics" and that it is absolutely vital that the Fed remain "independent". The reality is that the Federal Reserve has more control over the performance of the U.S. economy than the president even does, and yet most Americans never spend much time thinking about the Fed at all. It is almost as if someone has instructed us to "ignore the man behind the curtain" and most of us just blindly obey. With the economy in such a mess and with the national debt exploding so dramatically, isn't it about time that we had a national conversation about the performance of the Federal Reserve? Isn't it about time that we evaluated whether the Federal Reserve is doing a good job or not?" 
It seems that the mainstream investment community only takes a break from ignoring gold to berate it: one of gold's most outspoken critics, uber-investor Warren Buffett, did so recently in his latest shareholder letter.
"So when you hear commentators ridiculing gold as a barbarous relic, lamenting that they cannot eat it or smugly asserting that it produces nothing, rest contently in knowing that they're operating with a severe handicap in their own portfolio. Meanwhile, we'll prosper, armed with the understanding that gold fulfills a very important and specific purpose in a portfolio, namely as real money that protects net worth during periods marked by excessive government debt and currency debasement such as we are currently experiencing." 
While the Dow was busy getting back to a nominal break-even point from May 2008 to February 2012, gold prices surged from $900 to $1,750 per ounce.
"On Tuesday, the Dow Jones Industrial Average briefly climbed above 13,000, its highest level since May 2008. Many rejoiced at the psychological milestone as the index has nearly doubled from March 2009 lows. Central banks around the world have flooded the financial system with liquidity in an effort to stave off a deepening financial crisis. As a result, asset prices on stocks and commodities have surged in recent years. However, investors should pay closer attention to relative performance and the increasing demand for gold by central banks." 
Day after day, the long overdue correction of gold to fair value which as we have discussed previously, is now at about $2000 based on the recent multi-trillion Central Bank balance sheet expansion, keeps getting delayed, providing cheap entry...
"Why the move? A big buyer obviously. But besides that, why the hell not - when one considers that the last time gold was over $1900, total central bank assets were $2 trillion less, it is a miracle gold is not far, far higher. The catalyst this time according to some is the "sudden realization" that in one week the ECB's balance sheet is about to increase by at least 20% courtesy of the latest and greatest LTRO. According to others, it is "more buyers than sellers." Both are right." Earlier today, we learned the first stunner of the Greek "bailout package", which courtesy of some convoluted transmission mechanisms would result in some, potentially quite many, Greek workers actually paying to retain their jobs: i.e., negative... |
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