Iran War
November 19, 2007
Each week, the rhetroric heats up from either one side of the Atlantic or the other. This weekend, President Mahmoud Ahmadinejad said on Saturday Iran was ready to respond if attacked, but played down the prospect of war with the United States. Ahmadinejad was speaking during a visit to Bahrain which came amid mounting concerns in the Gulf that the United States could launch military action against Iran, although Washington says it is committed to a diplomatic solution to a crisis over Tehran’s nuclear ambitions. Continue Reading »
Michael Bloomberg Attacks
November 18, 2007
New York Mayor Michael Bloomberg, a potential presidential contender, berated the Republican and Democratic presidential hopefuls on Friday for “pandering in full throttle.” The billionaire independent’s pointed assessment of honesty on vital issues came during a visit to New Orleans, a tour that was itself a much-hyped event with the feel and pace of a presidential campaign swing. Continue Reading »
Cause Of Global Warming
November 17, 2007
Global warming is an issue that’s warming up- and quick. What’s really going on here. It seems as though the advocates and the opposition of the global warming issues have taken a page from the Democrat-Republican playbook. It’s becoming a very heated topic with equal numbers of both sides. It’s the RED states versus the BLUE states (of consciousness). Continue Reading »
Big Correction Week
November 16, 2007
Gold tumbled in this first week of a substantial correction, falling collectively near $47 to end at $788 by the close of Friday. The magical $800 level just couldn’t be sustained in light of a big fall in oil prices (lowered inflation), and a midly strengthening US$. I look for a minor rebound next week. But then, who knows anything about commodities?
Drug Smuggler
November 16, 2007
Maybe once a drug smuggler, always one? Osvaldo Aldrete-Davila, the drug smuggler who testified for the prosecution during the trials for Border Patrol Agents Ignacio Ramos and Jose Compean, has been arrested on charges of bringing more than 750 pounds of marijuana into the United States. Some people just never learn do they? Continue Reading »
Up $18 On Wednesday Opening
November 14, 2007
Gold for December delivery rose $18.20, or 2%, to stand at $816.20 an ounce in early action. “The bulls were back in charge in the gold markets overnight, as an easing in the U.S. dollar, a bounce in oil and a recovery in equities prompted fresh buying,” said Jon Nadler, an analyst at Kitco Bullion Dealers, in a research note.
Give It Up!
November 14, 2007
Call it show-boating, grand-standing, political posturing, or whatever you want. I call the 0 for 40 record that the Democrats have on stopping the war in Iraq as stupid! I mean and 0-40 record is worse than Notre Dame’s 1-9 football record so far this year. But guess what! Senate Majority Leader Harry Reid said Tuesday that Democrats won’t approve more money for the Iraq war this year unless President Bush agrees to begin bringing troops home. Wanna bet? How much money you got Harry? Continue Reading »
Down Another $9
November 13, 2007
U.S. gold futures trimmed early losses on Tuesday to turn higher on short covering and strong dealer buying as the dollar lost ground, only to be hit again when some players exited at higher levels, traders said. After Monday’s rout, some players engaged in a tug-of-war as dealers saw value at the lower levels, especially when the dollar eased against the euro. But others thought the correction off the recent 28-year highs had not gone far enough, with the market still heavily long gold contracts. “This morning’s bounce was caused by some strong dealer buying after it traded down to the $790′s late Monday. It was more related to short covering, or mines buying back positions, which would also be short covering,” said one
Crisis Intervention
November 12, 2007
Psychologists say that the goal of crisis intervention is to help victims confront the reality of what they are living in DENIAL of and to bring a dose of reality to their life. Does this work for groups, institutions, or nations or just individuals? America and the world is in need of some sort of crisis intervention- BIG TIME! If there was ever proof that the world is in trouble and that something is terribly wrong with our world, one need look no further than the Notre Dame football record: 1-9! Is God mad at the world or what? Continue Reading »
Profit Taking Time
November 12, 2007
Gold fell $26.20 on Monday, as weaker oil prices and recovery in the dollar prompted investors to take profits from the metal’s recent 28-year highs. Bullion also came under pressure on technical selling and a decline in global shares as fears about credit-related losses at financial firms forced investors to reduce bets on risky trades. “The currency and equities markets are going through another bout of risk reduction as investors continue to worry about subprime related writedowns in the financial sector and the state of the U.S. economy,” Tom Kendall, metals strategist at Mitsubishi Corporation, said.
Veteran Day 2007
November 11, 2007
President Bush honored U.S. troops past and present at a tearful ceremony Sunday for four Texans who died there. “In their sorrow, these families need to know — and families all across our nation of the fallen — need to know that your loved ones served a cause that is good and just and noble,” Bush said. “And as their commander in chief, I make you this promise: Their sacrifice will not be in vain.” Continue Reading »
Buy Gold
November 8, 2007
Gold rebounded from early lows on Thursday, fuelled by bargain-hunting as investment funds remained keen on the metal in the face of a tumbling dollar and heady oil prices. Early buying emerged on Thursday after Wednesday’s sharp price swings when in late European and US trading gold retreated from a high of $845.40 an ounce, just shy of the record of $850 hit in January 1980.
Dollar Decline
November 8, 2007
What we are witnessing currently is the decline of America’s economic power and leadership in the world. The ramnifications that will come from the wholesale dumping of the US$ will pile up over the next couple of years. The US$ is being totally trashed and the only thing that can stall the free-fall is a world wide recession of major degree. Otherwise, there’s no real end to the economic reverberations. Meanwhile the Dow dropped 361 points after a 363 point drop last week.Is anyone smelling the coffee? Continue Reading »
Gold Wave!
November 7, 2007
Gold soared higher on Wednesday on a tumbling dollar and record-high oil, with gold trading near its all-time peak, platinum setting a record and silver touching its highest level in 27 years. Buying also was spurred by uncertainty in the U.S. credit market and expectations the Federal Reserve will cut interest rates further. “There is a flood of money coming into gold at the moment. You can’t really stand in the way. There are hundreds of things that are supporting the market,” Jeremy East, global head of metals trading at Standard Chartered Bank, said.
It’s a one-way street at the moment and everything is working in gold’s favor- strong oil prices, a weaker dollar, subprime issues and a rush into safe-haven.
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