Markit PMIs Show Changing Global Economic Trends; With Comments On Gold’s Possible Rebound

The first part of today’s post will be brief but will link you to a great deal of information.

Markit has been out today and yesterday with a vast amount of monthly economic updates.  The U.S. data is not out as of now.  Here is a LINK which gets you to the country and regional [...]

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Brief Economic and Market Update

I was so busy yesterday, I didn’t get a chance to report that having put funds into the long Japanese yen trade just two days earlier with FXY, I closed the trade out with the tiniest of profits when the U.S. stock market continued to look unstoppable for the nonce, and the correlation between U.S. [...]

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KeithGram: The “Crash JP Morgan” Campaign

It is now the second anniversary of a campaign to “crash” JP Morgan by encouraging people to buy silver (see Max Keiser).  The idea is that JP Morgan has a large naked short position in silver.  If people buy physical silver it will drive the price up and deprive JP Morgan of the metal it [...]

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Open Letter To Ted Butler Of Butler Research

Keith WeinerPresident, Gold Standard Institute USA Oct 2, 2012

 Dear Mr. Butler:

 I read your article about silver manipulation at 24hgold.com.

 I am responding as someone who wants free markets.  I want to make one thing clear before I proceed.  We have no free markets anywhere today.  Without constant government intrusions into the markets, the paper [...]

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The Fed May Fire Multiple Bazooka Rounds: Housing Bubble 2.0 Ahead?

Two decades ago, Dana Carvey got laughs by imitating President George H. W. Bush and saying:  “Wouldn’t be prudent”.  Those were “prudent” times- the Perot balanced budget movement, the recurrent tax rises to deal with budget deficits (not that I favor tax increases) and the like- but the point was made to the public.  If [...]

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KeithGram: Euroland, Silver, and Gold

Last Thursday, in my subscribers’ newsletter I touched on a theme of the silver-euro correlation.  Clearly, the euro is heading to zero (not necessarily immediately and not necessarily all at once) and clearly silver is not.  This means that the correlation will end, and silver will decouple from the euro to the upside, perhaps violently.

[...]

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S.W.A.G.

Silver, wine, art, and gold have been touted as the investment alternatives for wealthy investors, many of whom have been pounded in the financial markets. We have certainly seen this in the art market where the recent sale of Munch’s iconic The Scream went for $120 million at auction. That reportedly went to, of course, financial giant [...]

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KeithGram: Regulator Decides Not to Interfere in Silver Market

I define a “goldbug” as someone who does not necessarily think that gold is money, but who feels that speculators in real estate, stocks, and bonds have had “their turn” and now it is time for the gold price to skyrocket.  Goldbugs and silverbugs have been screaming about “manipulation” for many years.  I have written [...]

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The Arbitrageur: Temporary Backwardation—The Path Forward from 2008

The March silver futures contract first entered backwardation on Mar 9 and with a few zigs and zags has not only remained there but has gone deeper and deeper in.  The April gold future just entered backwardation today.  See the graph (backwardation is when (Spot (bid) – Future (offer) > 0).

We shall see [...]

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DocComment: Co-Author of “This Time Is Different” Updates Her Thinking, and the BIS Opines on Operation Twist

In Financial Repression Back to Stay, Carmen Reinhart spells out her thinking tonight on Bloomberg.com.  The entire piece is worth reading, along with several graphs.  Here are the intro and conclusion:

As they have before in the aftermath of financial crises or wars, governments and central banks are increasingly resorting to a form of “taxation” [...]

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DocComment: Re Yesterday’s Price Move In the Precious Metals

Here is a chart of the main silver ETF from yesterday:

 

Not shown on the chart is today’s volume, nearly 100 million.  This makes today’s volume in SLV close to a record save for the frenzied trading last spring.  Not shown, but similarly, GLD had much higher than average volume yesterday. [...]

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