Has a Bull Market Begun?

Gold stocks have risen so much and so fast recently that a pullback, resp. consolidation either has begun already or is likely to begin soon. We have therefore decided to post a brief update on the situation in order to discuss what might happen next. Back in late November, we made a few remarks in order to clarify why we have focused so much on the gold sector again since last summer.

 

driefontein processing plantProcessing plant of the Driefontein mine in South Africa

Photo via goldfields.co.za

 

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Less Popular Than Syphilis

RANCHO SANTANA, Nicaragua – We’re traveling home to the U.S. from our recent meeting with members of our family wealth advisory, Bonner & Partners Family Office. So, we’ll make this short.

The Dow sold off again on Monday. At midday, it was down nearly 400 points. Then it recovered to end down only 178 points – or about 1%. As we’ve been warning, this market is extremely vulnerable. Watch out.

 

hilary-630Leftist war-harpy Hillary Clinton – the candidate of the country’s assembled cronies and zombies, in short, the prototypical Deep State representative. We feel reminded of an aged Cersei Lannister every time we contemplate Ms.“best cattle futures trader in the world” (more). Whatever you do America, please refrain from making this harridan your president. Nothing could possibly be worse. Luckily, even syphilis is more popular than Hillary among young voters. This fills us with hope.

Photo credit: Brandon Marshall / REX / AP

 

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Steps to the Moon

RANCHO SANTANA, Nicaragua – Stocks sold off on Friday. The Dow fell 211 points. Leading the retreat were tech stocks with the Nasdaq, where they tend to hang their hats, down more than 3%.

“Tech sector leads sharp sell-off,” said a Wall Street Journal headline.

 

1-Nasdaq CompositeNasdaq Composite, weekly – the ride has become bumpy – click to enlarge.

 

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A Flash Crash in Silver

Last Thursday, January 28, there was a flash crash on the price chart for silver. Here is a graph of the price action.

chart-1-silver flash crashThe Price of Silver, Jan 28 (All times GMT) – click to enlarge.

 

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Why Should a Decline in Oil Prices be Bad?

The dramatic fall in the global price of oil is being cited by the financial press, government officials, and academia as the catalyst for the recent abysmal U.S. economic data which shows that the economy is, in all likelihood, sliding into a recession or worse.

 

Oil_cartoon_12.09.2014_largeOil prices in dire straits…

 

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A Curious Collapse

 

wizard bank 2

 

Ever since the ECB has begun to implement its assorted money printing programs in recent years – lately culminating in an outright QE program involving government bonds, agency bonds, ABS and covered bonds – bank reserves and the euro area money supply have soared. Bank reserves deposited with the central bank can be seen as equivalent to the cash assets of banks. The greater the proportion of such reserves (plus vault cash) relative to their outstanding deposit liabilities, the more of the outstanding deposit money is in fact represented by “covered” money substitutes as opposed to fiduciary media.

 

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Meltdown

MIAMI – On Thursday, the Dow rose 79 points – or about 0.5%. Nothing proved one way or the other. We told you about our visit with President Reagan’s former budget advisor and Wall Street veteran David Stockman.

 

Must-should-ought-large1Ought!

 

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THE GOLD CARTEL: Government Intervention on Gold, the Mega Bubble in Paper and What This Means for Your Future

 
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