Gold Soars As Trading Reopens, Hits $88 Away from $2000
We may have been pessimistic with our assumption that gold would reach $2000 in under a week. At the rate it is going, it may get there tonight: upon reopening, gold immediately soared from just south of $1900, to a new all time higher of $1912 as pent up buying interest took out every offer in the market. This time around silver is not far behind and after many were staunchly pushing shorts around the $44 price, the metal also snapped above the $44 barrier. The only question we have is whether the CME will hike margins before or after gold touches $2000. Since the stop loss orders there are likely quite aggressive, we hope our Comex friends would push gold a little lower before it takes off for its next target 5-digit target. Incidentally, those who are long spam and short gold may want to consider unwinding that trade at this point.
The Neverending Story of a “Gold Bubble”
By: Frank Holmes
Goldman Sachs could be in huge trouble... Stock plummets after reports CEO has hired high-profile defense attorney
"Something big is about to hit the tape..."
Harvey Organ, Monday, August 22, 2011
Gold surpasses $1900 in access trading/silver closing in on $$44/ Banking shares collapse
Gallup: Frontrunner Paul in Dead Heat with Obama
Ron Paul is arguably the most conservative
Republican to ever run for president. Paul’s limited government
principles cannot be swayed and his long and consistent record is a
testament to his unique integrity. Many people believe that such a
thorough constitutionalist is far too pure to ever become president.
Gallup says they’re wrong: “President Barack [...]
READ MOREThe euro crisis is officially worse than 2008
"Someone is going to get left holding the grenade again..."
Guest Post: Another Shocking, Blatant Coverup Attempt
It’s ironic that the government often relies on an insipidly weak logic when it erodes the privacy of its citizens. If you don’t like how USA PATRIOT Act provisions allow then to tap your telephone or check out your rental history, they say, “Hey, if you have nothing to hide, you have nothing to fear! Obviously the same reasoning doesn’t apply to them… and it’s another example of the tragic farce that is modern government.Wall Street buoyed by QE3 speculation
Eric De Groot at Eric De Groot - 5 hours ago
Fed policy choices could be heavily influenced by pitchfork sales in the coming weeks/months. Headline: Wall Street buoyed by QE3 speculation US stocks rose in early trading on Monday as traders looked to the Federal Reserve to signal another round of quantitative easing after four weeks of sustained losses in stock markets. Fed chairman Ben Bernanke will speak Friday at an annual... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
August 22, 2011, at 1:04 pm
by Jim Sinclair in the category Jim's Mailbox |
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by Jim Sinclair in the category Jim's Mailbox |
Print This Post | Email This PostGermany’s Merkel renews rejection of eurobonds
CIGA Eric
One currency, one debt, or the weaker members will forced to leave to maintain the Euro.
Headline: Germany’s Merkel renews rejection of eurobonds
German Chancellor Angela Merkel insisted Sunday that eurozone-wide government bonds wouldn’t solve the current debt crisis, and said she sees no sign of a new recession in her own country — Europe’s biggest economy.
Financially solid Germany’s government has led opposition to "eurobonds," viewed by some as a logical solution to the debt crisis that has pushed up troubled countries’ borrowing costs.
Their rejection last week by Merkel and French President Nicolas Sarkozy hasn’t stopped advocates — in Germany’s opposition and elsewhere in Europe — pushing for them. Critics say they would raise costs unfairly for solid countries and could even deepen debt troubles.
Source: finance.yahoo.com
More…
Jim,
1 billion people plus another billion next door. Here’s back at those who sent those nasty emails.
CIGA BJS
Gold imports may hit 1,000 tonnes Press Trust Of India
Mumbai, August 21, 2011
Notwithstanding skyrocketing gold prices, its imports are likely to cross the 1,000-tonne mark this year on robust investment demand, say analysts. Since the US sovereign debt downgrade and the new threats emanating from euro zone economies, gold has rallied a whopping 14% this month alone, as investors shunned stocks and flocked to the yellow metal as a safe haven.
In the domestic market, gold scaled a new high of over Rs 28,150 per 10 gm in futures market, while in global markets it hit a record $1,877 an ounce last Friday.
India, the largest consumer of the yellow metal, had imported a hefty 958 tonne in 2010, according to the World Gold Council (WGC) data. During the first six months of this year, the import has already crossed 553 tonne, WGC said.
More…
August 22, 2011, at 1:00 pm
by Greg Hunter in the category USAWatchdog.com | Print This Post | Email This Post
by Greg Hunter in the category USAWatchdog.com |
Print This Post | Email This Post
By Greg Hunter’s USAWatchdog.com
Dear CIGAs,
It looks like the end of power for tyrant Muammar Gaddafi. He’s been in power 40 years, but what will take his place? Remember when stories broke out a few months ago about Libyan rebel al-Qaeda links? It is a fact that was reported in one of many publications such as The Telegraph back in March. The story headline read “Libyan rebel commander admits his fighters have al-Qaeda links.” The story went on to say, “Abdel-Hakim al-Hasidi, the Libyan rebel leader, has said jihadists who fought against allied troops in Iraq are on the front lines of the battle against Muammar Gaddafi’s regime. . . . Earlier this month, al-Qaeda issued a call for supporters to back the Libyan rebellion, which it said would lead to the imposition of “the stage of Islam” in the country.” (Click here to read the complete Telegraph story.) Did NATO’s 20,000 bombing missions help al-Qaeda win? It sure looks like it. The questions are why, and who got more than $6 billion in Libyan gold reserves? I frankly do not have the answers, but what is coming to power next in Libya could make Gaddafi look like a boy scout.
Meanwhile, the rest of the world is breathing a sigh of relief and the markets are reflecting that, at least for a while. Sure, Libya will be pumping oil at full speed again, and that should hold oil prices down. I do not expect oil prices to stay suppressed with all the money printing going on to try to keep the world economy from falling off a cliff. Friday, Bill Gross of PIMCO told Reuters, “Economic growth is slowing down.” Gross went on to say that his company is predicting “0% growth,” or close to it by fourth quarter. Sorry Mr. Gross, according to shadowstats.com, the economy is already hitting negative growth. At the beginning of this month I reported, “The recent year over year 1.6% growth reported by the Bureau of Labor Statistics in the Gross Domestic Product (GDP) is a statistical crock, according to economist John Williams of Shadowstats.com. In his most recent report, Williams said, ‘The SGS Alternate-GDP estimate for second-quarter 2011 is an approximate annual contraction of 2.8% versus the official estimate of a 1.6% gain. Such is more negative than the alternate 2.6% annual contraction (2.2% official gain) in the first-quarter.’ Double-dip here we come.” (Click here to read the original post.)
More…
Dear CIGAs,
It looks like the end of power for tyrant Muammar Gaddafi. He’s been in power 40 years, but what will take his place? Remember when stories broke out a few months ago about Libyan rebel al-Qaeda links? It is a fact that was reported in one of many publications such as The Telegraph back in March. The story headline read “Libyan rebel commander admits his fighters have al-Qaeda links.” The story went on to say, “Abdel-Hakim al-Hasidi, the Libyan rebel leader, has said jihadists who fought against allied troops in Iraq are on the front lines of the battle against Muammar Gaddafi’s regime. . . . Earlier this month, al-Qaeda issued a call for supporters to back the Libyan rebellion, which it said would lead to the imposition of “the stage of Islam” in the country.” (Click here to read the complete Telegraph story.) Did NATO’s 20,000 bombing missions help al-Qaeda win? It sure looks like it. The questions are why, and who got more than $6 billion in Libyan gold reserves? I frankly do not have the answers, but what is coming to power next in Libya could make Gaddafi look like a boy scout.
Meanwhile, the rest of the world is breathing a sigh of relief and the markets are reflecting that, at least for a while. Sure, Libya will be pumping oil at full speed again, and that should hold oil prices down. I do not expect oil prices to stay suppressed with all the money printing going on to try to keep the world economy from falling off a cliff. Friday, Bill Gross of PIMCO told Reuters, “Economic growth is slowing down.” Gross went on to say that his company is predicting “0% growth,” or close to it by fourth quarter. Sorry Mr. Gross, according to shadowstats.com, the economy is already hitting negative growth. At the beginning of this month I reported, “The recent year over year 1.6% growth reported by the Bureau of Labor Statistics in the Gross Domestic Product (GDP) is a statistical crock, according to economist John Williams of Shadowstats.com. In his most recent report, Williams said, ‘The SGS Alternate-GDP estimate for second-quarter 2011 is an approximate annual contraction of 2.8% versus the official estimate of a 1.6% gain. Such is more negative than the alternate 2.6% annual contraction (2.2% official gain) in the first-quarter.’ Double-dip here we come.” (Click here to read the original post.)
More…
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
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