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May 22, 2010 – Silver is inching closer to its long-awaited upside breakout.  The huge accumulation pattern that silver has been building over the past three years is almost complete, as can be seen on the following chart. I noted in my last commentary that silver looks ready to soar and more to the point,Read more

The IMF does not own gold; it owns claims to gold

Greece’s debt troubles are well known. Less recognized is the worrying truth that Greece is just the tip of the iceberg.

The dollar is approaching hyperinflation

April 12, 2010 – On August 16, 1999, I recounted how legendary traders Jim Fisk and Jay Gould had profited handsomely from a massive short squeeze in gold 130 years earlier.  The opportunity they took advantage of arose because of the ongoing monetary turmoil of their day arising from the so-called “greenback”, the irredeemable fiatRead more

April 10, 2010 – Gold climbed $36.00 this past week, a substantial 3.2% weekly gain.  Importantly, gold has finally hurdled above resistance around $1140.  In fact, it literally blew right through it. It has been nearly a month since I wrote that we should “note how strong gold has been throughout this correction.”  Even thoughRead more

The shorts in gold – and particularly the shorts in silver – felt some pain today. Gold climbed $11.80 to close on the Comex at $1125.10, a 1.1% gain for the day. Silver did nearly twice as well, up 2.1% for the day and ending at $17.876, the highest in ten weeks. The gold/silver ratio fell to 62.9 from 63.6 the day before.

April 1, 2010 – Everything is lining up for silver, which looks ready to soar.  The catalyst to launch silver like a rocket may very well turn out to be last week’s CFTC hearing, which revealed the huge naked short position in the precious metal markets.  In my annual forecast for 2010, I said: “WeRead more

Everyone should be taking note that the yield on the 10-year Treasury note this week climbed to a 9-month high. The T-note is sending a loud and clear message: interest rates are headed higher.

March 22, 2010 – Only a few decades ago, the United States was the world’s largest creditor nation.  American capital spanned the globe financing all types of investments in virtually every country.  But that dominance began to erode in the 1960s because growth in consumption in the United States was starting to outpace new production. Read more