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This disconcerting story was brought to my attention by our resident commodities expert at Wyatt Investment Research, Kevin McElroy. It's been mostly buried by the main stream media but has substantial implications for exposing the hypocrasy of central bankers tellling us that gold isn't money...
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Europe’s banks are in trouble, big trouble. And the U.S. Federal Reserve is prepared to bail them out. European banks are some of the biggest holders of debt (bonds) from Greece and other indebted Eurozone countries. And they will be big losers if Greece defaults on its debt payments. Throw in...
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I hate to embarrass my friend and colleague Andy, but he's easy to pick on. The fact is, while most people in my company regularly buy stocks, he hasn't done so for over a decade. He's an anomaly, and we give him a hard time. That is until we saw how much money he makes in the markets. Last...
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By now, you've no doubt heard that Standard & Poor's has downgraded the U.S. credit rating one notch. Let's first understand that this downgrade is more a political statement than a financial one. And it's not likely to affect U.S. Treasury yields much. I think we all agree that the...
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If President Obama and Ben Bernanke had it their way, they’d have you believe that a higher debt ceiling means prosperity. It will somehow raise employment, increase wages, end the debt crisis and restore faith in the credit of the United States. But nothing could be further from the truth. Raising...
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This morning, ratings agency Moody's officially put the U.S. credit rating under review. Despite persistent warnings that failure to raise the debt ceiling will be disastrous Moody's is threatening to cut the U.S. credit rating over continued deficit spending. The United States currently enjoys...
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The S&P 500 is doing its best to build on the half-point rally it put together last week. All in all, there's no reason to expect stocks to reverse recent weakness and launch toward previous highs. It's better to see stock consolidate after the recent declines, and, perhaps, grind higher...
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The news these days is Greece, Greece, and more Greece. Last year I prepared my readers when the first round of Greek bail-outs was happening. I told them then and telling you now, this isn't over. Not by a long shot. In fact the smart money is on Greece defaulting and destabilizing the French and...
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We are in the final stretch before Christmas. Yes, the blatant commercialization of a great holiday gets old. But it never manages to dampen my Christmas spirit. Online sales are up 12% over last year. And brick and mortar sales are coming in strong too. SpendingPulse reports that clothing sales are...
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On Friday, gold prices hit another high, the second in two days. August delivery gold futures hit $1,261.40 during the trading day. Investors, concerned about the inflationary monetary policy from the U.S. and debt-laden euro-zone nations and the United Kingdom and slowing momentum of global growth,...
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Gold prices hit new all time highs late Thursday afternoon. Gold futures for August delivery hit $1,252.50 per ounce during the trading day. The precious metal closed the day at $1248.70. That set a new intraday and a new closing high for gold futures. Investors of all stripes, concerned about the inflationary...
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Based on recent numbers, the United States Congress believes the Federal Government's debt will rise to 90% of Gross Domestic Product by 2020. That means that the Government would need to raise Federal taxes to astronomic levels in order to pay for their reckless spending. But according to a study...
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What are the ramifications of "debt explosion" in the Western world today? That's the question that Niall Ferguson, Harvard Professor of History and Business Administration sought to answer recently. His conclusion? The United States is actually worse off than the PIGS (Portugal, Italy...