Gold Soars On $ Liquidity
September 29, 2008
Stocks plummeted on Wall Street even before the 228-205 vote to reject the bill was announced on the House floor. When the critical vote was tallied, too few members of the House were willing to support the unpopular measure with elections just five weeks away. Ample no votes came from both the Democratic and Republican sides of the aisle. Continue Reading »
The Gold Revival
September 18, 2008
For thsoe who had written off gold, or those that were shorting the yellow metal, last two days have given everyone pause to reconsider. Gold was up $90 on Wednesday for a record one day advance. Many were saying that it was overdone and would drop on Thursday; however, gold was another $30 on Thursday for an eye-popping $120 over two days. Continue Reading »
Gold Starts To Rebound
September 17, 2008
The Russian stock market have been forced to close for two days in a row now as a meltdown in financial markets circles around the globe. Once upon a time America was a capitalistic economy but with the government buying out Fannie Me, Freddie Mack, and AIG in the last few days, so much for that concept. We’re in very dangerous waters and the savvy people know it. Continue Reading »
Black & Red Monday
September 15, 2008
You’ve heard of Black Monday, well welcome to black and RED Monday. The Dow tanked big time, falling mroe than 500 points. And though spot gold had the second day of rebound off the bottom, HUI tanked along with the stocks. Today was a good example of why it’s best to hold the real thing (gold coins or bullion) than to be holding gold stocks. Continue Reading »
Has Gold Found The Bottom?
September 10, 2008
A little over a month ago, I said that gold was headed for $750 (when it was at $930). But then long term, I still see gold as a four-digit number. Gold has been dropping like a rock in the past five weeks and it closed at $757 today, which is about as close to $750 as one can get. Now what? Continue Reading »
Fannie Mae & Freddie Mack
September 8, 2008
In case you wouldn’t believe it before, believe NOW! America is no longer a capitalistic system. We’re more tha n headed to a social, if not a communistic system. Ah come now, surely things aren’t that bad! The question needs to be asked though. Has America created its own variety of communism with the U.S. Treasury Department’s bailout of two beleaguered government-sponsored enterprises (GSEs), Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE)? Continue Reading »
$750 or $1,500 Gold?
August 8, 2008
After a run from $250 to $1,000 and a few months in the trading range of $850-$950, gold sits at a very precarious position, as well as many commodities- can you say OIL? Anyone who is holding on to gold, silver, or precious stones at this point has considerable short term risk. Continue Reading »
Golden Recovery
July 14, 2008
For those that have written off the commodities market and especailly gold (like Mahendra) and been long on the US$, things ar not going well. As I’ve written for nearly a decade now, GOLD is on a bull run and it’s not over by any stretch of the imagination, though there can be serious seasonal hits from time to time. In the last few weeks gold has charged fro $850 to $975. Continue Reading »
Gold Resumes Climb
June 30, 2008
After hitting $1,000 an ounce, gold backed off as is usually the case when a major psychological level is hit. Gold dropped back to the $875-$900 tradning range until last week. With the price of oil going up and the European Union considering raising interest rates, pressure on the US$ is great indeed. Thus gold is trading in the $925 range now. Continue Reading »
Gold Correction
April 1, 2008
As is typically the case when a new psychological level is reached and breached, there’s a backing off, taking of profits, and a consolidation. So too with gold. Gold shot through the $1,000 level and has been backing down in wild gyrations for the past 2-3 weeks, barely staying above $900 after today’s $20+ drop. Continue Reading »
Trillion Dollar Meltdown
March 31, 2008
This is one big hole that the Fed has dig and then the Fed wants to come in and correct the mess that they’ve made. How cool of a paradigm shift, blame shift, is that anyway? Right after 9-11 the mantra was not let us forgive our enemies, not let us immediately go bomb someone (though we ultimately did), it was the GO SHOPPING cry and the charge was led by the president of the United States. And now we have what looks to be a one trillion dollar meltdown. Continue Reading »
Wall Street Woes
March 30, 2008
The Federal Reserve announced Friday it will auction another $100 billion in April to cash-strapped banks as it continues to combat the effects of a credit crisis. The central bank said it would make $50 billion available at each of two auctions, on April 7 and April 21. Wall Street woes continue and gold will keep going higher as a result. Continue Reading »
Stock Market Game
March 19, 2008
Fewer and fewer people are in the stock market game, just like more and more people are having their homes foreclosed. Brokers want YOUR MONEY. Stock brokers make money when you buy and sell stocks. The story line, the stock market game is that you can make money when the market is going up and you can make money when the market is going down. Yes, and miracles happen- every now and then! Continue Reading »
Inflation Rates
March 18, 2008
Wholesale prices rose again in February as another hefty increase in energy costs. You know the cost of living is going up fast every time you go to fill up your car. Putting $5 or $10 in at a time barely lasts a day now. And then when you go to buy groceries, you’re tapped out. Is there any wonder people are having their homes foreclosed? People have to get to work and eat. Those are priorities that are higher than living in a 3-4,000 sq. ft. home! Continue Reading »
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