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Robin Koerner: On Last Friday, Warren Buffett’s right-hand man and Berkshire vice chairman, Charles Munger, told CNBC, “Gold is a great thing to sew into your garments if you’re a Jewish family Read more…
Dr. John Chapman: Introduction: The Prologue to Today and the Current Situation Summarized: On August 15, 1971, President Richard Nixon unilaterally terminated U.S. obligations under the 27-year old Bretton Woods monetary framework, and with it the U.S. Dollar link to gold. The world became at once a Read more…
Daily Capitalist: On June 28 last year, I wrote a post titled Important Battle at Four Dollar Copper. Shortly thereafter, copper surged half a buck but then dropped by one-third to $3. With global money-printing picking up and hopes that only a minor European recession and mild Chinese growth slowdown Read more…
Daily Capitalist: If there’s any doubt about the strength of economic expansions, on trend, in the United States, in the past half-century, the linked 52-year chart from the Philly Fed may help settle the issue: LINK. On trend, every economic recovery since the official end of a recession appears weaker than its Read more…
Daily Capitalist: Here is a chart of the main silver ETF from yesterday. Not shown on the chart is today’s volume, nearly 100 million. This makes today’s volume in the iShares Silver Trust (NYSEArca:SLV) close to a record save for the frenzied trading last spring. Not shown, but similarly, the SPDR Gold Read more…
Keith Weiner: On Friday, I published an article “The Arbitrageur: Silver Backwardation“. I was the only one to cover the news of the end of silver backwardation. And I gave my prediction that the price of silver could correct sharply. Read more…
The Daily Capitalist: Most of the time, an investment strategy that fights the Fed (or the central authorities writ large) is like spitting into the wind-that is, it’s a bad idea. They are, after all, TPTB. This brings me to the Fed’s purpose, namely banking. The stated rationale for the Federal Reserve Act of 1913 Read more…
The Daily Capitalist: What will the gold-dollar exchange ratio be in the future? Both trade hyperactively on currency desks. Thus gold is a physical commodity that acts as a currency. Read more…
The Daily Capitalist: Oops! They’ve done it again. Maybe. Here’s the evidence that the Fed aborted a mini-recession with Operation Twist, which in association with enlarging its balance sheet by reinvesting dividends from its mortgage-backed securities portfolio was essentially the QE 3 that Jeff Read more…
The Daily Capitalist: Last August, I mentioned in a post (I forget which one) that when gold (NYSEArca:GLD) hit $1900, I was a seller. In late September, I suggested that municipal bonds were better buys than gold, and indeed muni yields have collapsed. Meanwhile, gold has churned for Read more…
The Daily Capitalist: On Sept. 25 of last year, I posted Gold on Hold; The New Play May Be in Munis. How have those twin calls worked out? Mrs. DoctoRx’s nail salon, hair stylist and the other beneficiaries of her ongoing largesse would be glad to learn: very well, thank you. On that date, the SPDR Read more…
The Daily Capitalist: On the morning of this past Friday the 13th, I was greeted on my home page, Bloomberg.com, by the lead story– which was of investors cheering and captioned by the statement that good news is at hand, CEOs are now in a hiring mood. I had an uh-oh moment in my usual Read more…
The Daily Capitalist: What is going on in the hard money blogosphere? How on earth is paper getting confused with bullion? Recently, not one but two prominent hard money-oriented blogs intimated that the stock known as Sprott Physical Silver Trust (NYSEARCA:PSLV) is more like the real thing than Read more…
Keith Weiner: March silver has been flirting with backwardation since the end of 2011, and today it has moved more firmly into backwardated territory. This is extremely bullish for silver, and let me explain why. Read more…
The Daily Capitalist: I have frequently referred to a chart produced by a British analyst, Andrew Smithers (then click on “q and FAQs”,) who brilliantly (fortuitously) published a book in March 2000 proclaiming stocks to be in the greatest bubble in history- the very month that the NASDAQ peaked over Read more…
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