Posts Tagged ‘gold’


Gingrich Tries To Grab Some Votes

It has turned out that Ron Paul's critique of the Federal Reserve has caught on. Polls have revealed that voters (especially Republican voters) are actually partial to the idea of going back to a gold standard. This was revealed in a Rasmussen poll in early January, which characterized the gold standard debate as a 'sleeper issue' that 'could tip the scales of the race'.


„Phone interviews with 501 likely caucus-goers were conducted in Iowa in mid-November. The potential respondent was screened to ensure a. registration to vote in Iowa b. registration as a Republican and c. self-described as “definitely” or “probably” going to participate in the caucuses to select the Republican nominee for president. The survey has an overall margin of error of 4.4 points at the 95 percent confidence interval.

“A majority (57 percent) of those surveyed are favorable to the United States returning to a gold standard and over one-quarter is ‘very’ favorable to the idea,” reports pollster Erin Norman. “Only 17 percent are unfavorable to this idea, which equates to a better than three-to-one favorability ratio among likely Iowa Republican Caucus goers. These are remarkably high numbers given that the question contained no information about the gold standard specifically.”

Translated out of pollsterese? The gold standard drives votes both in the caucuses and primaries and in the general election.“


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Gold Bonds: Averting Financial Armageddon

After the near-collapse of the financial system in 2008, a growing number of people have come to realize that our monetary disease is terminal. It is that group to whom I address this paper. I sincerely hope that this group includes leaders in business, finance, and government.

I do not believe that my proposal herein is necessarily “realistic” (i.e. pragmatic). There are many interest groups that may oppose it for various reasons, based on their short-sighted desire to try to continue the status quo yet a while longer. Nevertheless, I feel that I must write and publish this paper. To say nothing in the face of the greatest financial calamity would go against everything I believe.

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Inflation: An Expansion of Counterfeit Credit

The Keynesians and Monetarists have fooled people with a clever sleight of hand. They have convinced people to look at prices (especially consumer prices) to understand what’s happening in the monetary system.

Anyone who has ever been at a magic act performance is familiar with how sleight of hand often works. With a huge flourish of the cape, often accompanied by a loud sound, the right hand attracts all eyes in the audience.  The left hand of the illusionist then quickly and subtly takes a rabbit out of a hat, or a dove out of someone’s pocket.

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The Technical Picture

Gold's recent correction has ruffled the feathers of many gold bulls and brought quite a few bears out of the woodwork. Many articles like this one ('Gold could fall below $1,400 in a hurry') have recently appeared.

But does this sudden outbreak of bearishness actually make sense? Read the rest of this entry »


Interventionism and Market Volatility

The enormous recent market volatility, driven mainly by 'macro-news' and well established intermarket correlations that are used as triggers for systematic trading have made life difficult for all but the nimblest traders. It is highly unfortunate that it has come to this. In the stock market, it is no longer enough appraise the investment merits of various businesses, instead more and more effort has to be expended on a form of 'Kremlinology'. What politicians and central bankers are apt to do next has become an ever more important question for investors since the beginning of the ongoing crisis period in 2007/8. Note here that we are not necessarily distinguishing between the so-called 'GFC' centered on the US mortgage credit bubble's collapse and the current sovereign debt crisis in Europe. We regard them as essentially different stages of the same financial and economic crisis.

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Gold and Economic Confidence

We are taking a brief look at gold and gold mining stocks again, updating our previous reports on the sector. We last wrote about gold itself on October 5 ('Gold, positive signals emerge') and on the sector including gold stocks on August 15 and September 12.  In the latter article we took note of the fact that the HUI index had broken out to a slight new high, but also commented on the flaws we perceived with regards to this breakout at the time – notwithstanding the fact that gold stocks represented and continue to represent good value relative to gold itself. Read the rest of this entry »

Precious Metals Sell Off

On Thursday and Friday, the decline in precious metals prices accelerated, in the process breaking a number of short term and in some cases medium term support levels.

To this we want to note that the increase in margins on gold, silver and copper futures by the CME was not the reason for the decline, but its consequence. Consider for instance that at one point on Friday, the gold contract was down by $114. At that point a buyer on Thursday's close would have had a 'paper loss' of $11,400 per contract. However, before Friday, the initial margin per gold contract was only $9,450, with the maintenance margin at $7,000. Obviously, at the low point, more than the initial margin of our putative buyer would have been wiped out. In that sense, Friday's margin increase to $11,450 initial and $8,500 maintenance margin is probably insufficient.

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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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