15 January 2012
Harvey Organ's - The Daily Gold and Silver Report - Saturday, January 14, 2012
Saturday, January 14, 2012
Greece
Good morning Ladies and Gentlemen:
The bankers in their great wisdom, decided to delay by one day their raid on gold and silver. On Thursday, the cartel saw the precious metals rise on a "great" auction in Europe. The rise provided extra juice for the bankers on Friday and they did not disappoint. Gold fell by $17.30 down to $1630.40. Silver was hit for a loss of 36 cents to $29.75. Bourses were hit first in Europe with news of a possible S and P downgrade on France. That brought the Dow down initially quite hard to triple digit losses, but it rallied on the close down only 48 points. Gold rose with the Dow advancing but not silver. France was finally downgraded at 4:30 pm Friday night. Here are the final closing prices:
Gold: $1639.70
silver: $29.77
The bankers have complete control of the paper price of gold and silver. I would like to report that again we had no USA bank failures Friday night.
Let us go to the comex and assess trading, amounts standing for delivery, inventory movements and the COT report for positions of the various players.
The total gold comex open interest rose by 4,383 contracts which provided the fodder for our bankers to whack on Friday. Always remember that all OI figures are 24 hours back. Thus the "real" OI Friday is officially the close of trading at the comex on Thursday. The front options expiry month of January saw the OI rise by 5 contracts from 30 to 35 despite 8 deliveries on Thursday. We thus gained another 1300 oz of additional gold standing and lost nothing to cash settlements. The next big delivery month is February and we are a little over 2 weeks to first day notice. The February month saw a contraction from 182,125 to 174,222 as many are rolling to other future months namely April. The estimated volume was quite high yesterday coming in at 230,480 and this was due to:
1. the high rollovers
2. the extra shorting by the bankers.
The total silver comex OI hardly budged in total contrast to gold. Here the OI fell by only 5 contracts to 103,877. There is no question that silver is trading in a different pattern to gold. Judging from the comex movements it seems that the CME is getting ready for some serious deliveries in March. The front options expiry month of January saw its OI fall from 185 to 122 for a loss of 63 contracts. We had 125 delivery notices filed on Friday for delivery on Tuesday so we again gained 62 contracts or 310,000 additional oz of silver standing for delivery and lost nothing to cash settlements. The next front month which appears to be of considerable interest to investors is the March contract and here the OI lost only about 600 contracts to roll overs. The OI rests this weekend at 55,029. The estimated volume on Friday came in at a weak 38,682. The confirmed volume on Thursday was also weak at 38,807 The entire silver comex longs appear to be in very strong hands as these guys do not seem to be bullied by the banker's antics.
US acts to hold Israel back from striking Iran. Their intel agencies at odds
DEBKAfile Exclusive Report January 14, 2012, 10:36 AM (GMT+02:00)
The bombing attack in Tehran which killed Iranian nuclear scientist Mostafa Ahmadi-Roshan last Wednesday, Jan. 11, generated an angry phone call from US President Barack Obama to Israeli Prime Minister Benjamin Netanyahu the next day, debkafile's Washington and intelligence sources report. Washington is increasingly concerned, the Wall Street Journal reported Saturday, that Israel is preparing to strike Iran's nuclear sites over US objections and has bolstered the defenses of US facilities in the region in case of a conflict.
Obama, Defense and Secretary Leon Panetta and Secretary of State Hillary Clinton have been sending private messages to their Israel contacts warning them about the dire consequences of a strike, the paper reports. Top US armed forces chief Gen. Martin Dempsey will visit Israel next week.
The bombing attack in Tehran which killed Iranian nuclear scientist Mostafa Ahmadi-Roshan last Wednesday, Jan. 11, generated an angry phone call from US President Barack Obama to Israeli Prime Minister Benjamin Netanyahu the next day, debkafile's Washington and intelligence sources report. Washington is increasingly concerned, the Wall Street Journal reported Saturday, that Israel is preparing to strike Iran's nuclear sites over US objections and has bolstered the defenses of US facilities in the region in case of a conflict.
Obama, Defense and Secretary Leon Panetta and Secretary of State Hillary Clinton have been sending private messages to their Israel contacts warning them about the dire consequences of a strike, the paper reports. Top US armed forces chief Gen. Martin Dempsey will visit Israel next week.
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Iran Could Make Silver Bugs Filthy Rich
On the officially day of the U.S. invasion of Iraq on Mar. 20, 2003, silver traded at the lowly price of approximately $4.35. On the first anniversary of the invasion, the silver price reached nearly $8.00, for an 83 percent return (see graph, below).
But an attack on Iran could make an 83 percent return seem miniscule.
With reports of American troop movements into Israel, along with Reuters reports of two U.S. aircraft carriers headed to the Persian Gulf and a lot of chatter from Washington command appearing on television as salesmen for an attack, a military strike on Iran is likely, according to Jim Rickards, adviser to government personnel on U.S. national security issues and frequent guest of King World News.
'Six reasons why still to buy gold bullion or gold'
By Mike Neon
When you see across the world, you will notice bad times giving you reasons to put your money in Gold bullion . Having gold at any point of time is a secure choice to try since it works when everything fails.
Six reasons why to buy gold bullion or gold:
--Fights with a troubled economy: We see the US and the world economy fluctuating where we see effects shaky about the dollar and euro and even other currencies of the world sinking to a great extent. At such juncture when currencies are losing value, buying gold bullion or gold somewhere in the past will help him survive the bad economy.
When you see across the world, you will notice bad times giving you reasons to put your money in Gold bullion . Having gold at any point of time is a secure choice to try since it works when everything fails.
Six reasons why to buy gold bullion or gold:
--Fights with a troubled economy: We see the US and the world economy fluctuating where we see effects shaky about the dollar and euro and even other currencies of the world sinking to a great extent. At such juncture when currencies are losing value, buying gold bullion or gold somewhere in the past will help him survive the bad economy.
Gold relinquishes relationship with dollar, may regain 'safe haven' status, says Dubai-based expert
Source: Precious Metals, Emirates NBD , Author: Gerhard Schubert
Posted: Sat January 14, 2012 6:42 pm
UAE. Emirates NBD, the United Arab Emirates biggest lender by assets, today released its weekly Precious Metals Report.
Gold: US$1,639.00 – up US$33 since the 25th December 2011.
Gold has done very well in the light of the re-balancing of the commodity indexes and the significant pressures resulting out of this. It shows again that the Market participants did build up significant short positions in front of the index sales and that the market was forced to cover when the prices rallied.
Gold received also some support from the changed sentiment in Platinum, and the whole complex was under a lot less pressure than expected. I think it is time to start concentrating on the outlook for 2012 again.
We do expect Silver to move closely orientated to Gold but Silver would be the winner if Gold is capable of moving further forward from here on. The investment community had abandoned Silver during 2011, but a resurgence of interest could be seen if Gold can carry on the uptrend and tow Silver in its wake.
Posted: Sat January 14, 2012 6:42 pm
UAE. Emirates NBD, the United Arab Emirates biggest lender by assets, today released its weekly Precious Metals Report.
Gold: US$1,639.00 – up US$33 since the 25th December 2011.
Gold has done very well in the light of the re-balancing of the commodity indexes and the significant pressures resulting out of this. It shows again that the Market participants did build up significant short positions in front of the index sales and that the market was forced to cover when the prices rallied.
Gold received also some support from the changed sentiment in Platinum, and the whole complex was under a lot less pressure than expected. I think it is time to start concentrating on the outlook for 2012 again.
We do expect Silver to move closely orientated to Gold but Silver would be the winner if Gold is capable of moving further forward from here on. The investment community had abandoned Silver during 2011, but a resurgence of interest could be seen if Gold can carry on the uptrend and tow Silver in its wake.
14 January 2012
The Year of the Central Bank
By: Doug Noland | Fri, Jan 13, 2012
The start of a new market year is, undoubtedly, analytically intriguing. One wouldn't think that the calendar should have such impact. Yet January arrives with a clean performance slate and an opportunity for new, perhaps not as unsullied, market dynamics. What's the new game? The previous year's underperformers can rather abruptly be transformed into darlings of the New Year (especially if those stocks have large short positions). The general market also tends to benefit from strong seasonal inflows. And if stocks can charge out of the blocks briskly, a plethora of bullish news and analysis is sure to follow.
Such a fluid backdrop is conducive to abrupt changes in analytical focus - a new prevailing "analytical regime" in a capricious marketplace. Last year's now stale worries are easily dismissed, as a confluence of more constructive market trading action and news flow supports a major boost to bullish market sentiment. A short squeeze (buying to reverse short positions) - in positions that tended to be consistent with prior market focus/worries - works wonders in bolstering the perception of a more optimistic analytical outlook and diminished risk profile throughout the marketplace.
The start of a new market year is, undoubtedly, analytically intriguing. One wouldn't think that the calendar should have such impact. Yet January arrives with a clean performance slate and an opportunity for new, perhaps not as unsullied, market dynamics. What's the new game? The previous year's underperformers can rather abruptly be transformed into darlings of the New Year (especially if those stocks have large short positions). The general market also tends to benefit from strong seasonal inflows. And if stocks can charge out of the blocks briskly, a plethora of bullish news and analysis is sure to follow.
Such a fluid backdrop is conducive to abrupt changes in analytical focus - a new prevailing "analytical regime" in a capricious marketplace. Last year's now stale worries are easily dismissed, as a confluence of more constructive market trading action and news flow supports a major boost to bullish market sentiment. A short squeeze (buying to reverse short positions) - in positions that tended to be consistent with prior market focus/worries - works wonders in bolstering the perception of a more optimistic analytical outlook and diminished risk profile throughout the marketplace.
Jim Rogers: US Govt to ‘Juice Up’ Economy in Election Year
Friday, 13 Jan 2012 09:01 AM
By Forrest Jones
The U.S. government will spend beyond its means and the Federal Reserve will print money to juice up the economy as part of an election-year popularity ploy, says international investor Jim Rogers.
"You have to remember two things — election in America in November, so you are going to see a lot of good news. Of course you have the American government spending staggering amounts of money right now, printing a lot of money and getting ready for the election," Rogers tells The Economic Times, an Indian English-language daily newspaper.
"It happens every four years in America. They do their best to get the economy juiced up so they can win the election."
By Forrest Jones
The U.S. government will spend beyond its means and the Federal Reserve will print money to juice up the economy as part of an election-year popularity ploy, says international investor Jim Rogers.
"You have to remember two things — election in America in November, so you are going to see a lot of good news. Of course you have the American government spending staggering amounts of money right now, printing a lot of money and getting ready for the election," Rogers tells The Economic Times, an Indian English-language daily newspaper.
"It happens every four years in America. They do their best to get the economy juiced up so they can win the election."
Gold and Silver Decline as Europe Receives Downgrades
By Eric McWhinnie
January 13, 2012 4:46 PM EST
Wall St. Cheat Sheet
On Friday, gold (NYSEARCA:GLD) futures for February delivery decreased $16.90 to settle at $1,630.80 per ounce, while silver (NYSEARCA:SLV) futures fell 60 cents to settle at $29.52.
Must Read
Euro-zone governments are expecting new debt-crisis commotion following reports ratings agency Standard & Poor’s (NYSE:MHP) plans to downgrade the credit ratings of two of the euro zone’s six AAA-rated nations.
January 13, 2012 4:46 PM EST
Wall St. Cheat Sheet
On Friday, gold (NYSEARCA:GLD) futures for February delivery decreased $16.90 to settle at $1,630.80 per ounce, while silver (NYSEARCA:SLV) futures fell 60 cents to settle at $29.52.
Must Read
Euro-zone governments are expecting new debt-crisis commotion following reports ratings agency Standard & Poor’s (NYSE:MHP) plans to downgrade the credit ratings of two of the euro zone’s six AAA-rated nations.
Are The Middle East Wars Really About Forcing the World Into Dollars and Private Central Banking?
Submitted by George Washington on 01/13/2012 19:54 -0500
The Middle Eastern and North African wars – planned 20 years ago – don’t necessarily have much to do with fighting terrorism. See this, this and this.
They are, in reality, about oil.
And protecting Israel (and read the section entitled “Securing the Realm” here).
But as AFP reports today, there is another major motivation for the expanding wars:
The Middle Eastern and North African wars – planned 20 years ago – don’t necessarily have much to do with fighting terrorism. See this, this and this.
They are, in reality, about oil.
And protecting Israel (and read the section entitled “Securing the Realm” here).
But as AFP reports today, there is another major motivation for the expanding wars:
The US Government Is Bankrupt
By Doug Casey, Casey Research
Everyone knows that the US government is bankrupt and has been for many years. But I thought it might be instructive to see what its current cash-flow situation actually is. At least insofar as it's possible to get a clear picture.
As you know, the so-called Super Committee recently tried to come up with a plan to cut the deficit by $1.5 trillion and failed completely. To anyone who understands the nature of the political process, the failure was, of course, as predictable as it was shameful. What's even more shameful, though, is that the sought-after $1.5 trillion cut wasn't meant to apply to the annual budget but to the total budget of the next 10 years – a fact that is rarely mentioned.
Everyone knows that the US government is bankrupt and has been for many years. But I thought it might be instructive to see what its current cash-flow situation actually is. At least insofar as it's possible to get a clear picture.
As you know, the so-called Super Committee recently tried to come up with a plan to cut the deficit by $1.5 trillion and failed completely. To anyone who understands the nature of the political process, the failure was, of course, as predictable as it was shameful. What's even more shameful, though, is that the sought-after $1.5 trillion cut wasn't meant to apply to the annual budget but to the total budget of the next 10 years – a fact that is rarely mentioned.
13 January 2012
US stations two aircraft carriers opposite Iran, 15,000 troops in Kuwait
DEBKAfile Exclusive Report January 13, 2012, 12:00 PM (GMT+02:00)
US President Barack Obama is busy aligning Middle East allies with the next US steps on Iran. Contributing to the mounting sense in Washington of an approaching US-Iranian confrontation, the Pentagon is substantially building up its combat power around Iran, stationing nearly 15,000 troops in Kuwait - two Army infantry brigades and a helicopter unit – and keeping two aircraft carriers the region. The USS Carl Vinson, the USS John Stennis which was to have returned to home base and their strike groups will stay in the Arabian Sea.
Iran is caught up in the same pre-war swirl of activity. Parliament Speaker Ali Larijani spent two days in Ankara this week. But Turkish leaders failed in their bid to sell their good offices as brokers for averting the expected collision between Tehran and the West. Before flying out of Ankara Friday, Jan. 13, Larijani commented: "We have different ways of doing things."
debkafile's Iranian sources quote the Iranian official as telling his hosts that his country is prepared to take on any military aggressors. One of the responses weighed in Tehran to meet the rising military pressure might be an open declaration of Iran as a nuclear power. By accepting a visit by IAEA inspectors on Jan. 28 - to investigate charges that Iran is running a clandestine nuclear bomb program - Tehran may be moving toward that irreversible admission - or possibly its first nuclear test.
US President Barack Obama is busy aligning Middle East allies with the next US steps on Iran. Contributing to the mounting sense in Washington of an approaching US-Iranian confrontation, the Pentagon is substantially building up its combat power around Iran, stationing nearly 15,000 troops in Kuwait - two Army infantry brigades and a helicopter unit – and keeping two aircraft carriers the region. The USS Carl Vinson, the USS John Stennis which was to have returned to home base and their strike groups will stay in the Arabian Sea.
Iran is caught up in the same pre-war swirl of activity. Parliament Speaker Ali Larijani spent two days in Ankara this week. But Turkish leaders failed in their bid to sell their good offices as brokers for averting the expected collision between Tehran and the West. Before flying out of Ankara Friday, Jan. 13, Larijani commented: "We have different ways of doing things."
debkafile's Iranian sources quote the Iranian official as telling his hosts that his country is prepared to take on any military aggressors. One of the responses weighed in Tehran to meet the rising military pressure might be an open declaration of Iran as a nuclear power. By accepting a visit by IAEA inspectors on Jan. 28 - to investigate charges that Iran is running a clandestine nuclear bomb program - Tehran may be moving toward that irreversible admission - or possibly its first nuclear test.
It's Offical: S&P Announces Mass Downgrade Of Eurozone Countries
Eric Platt | Jan. 13, 2012, 4:38 PM
Standard & Poor's has officially cut the long-term credit rating of France and eight other Eurozone nations.
Italy, Portugal, Cyprus, and Spain saw two notch downgrades, while Austria, France, Malta, Slovakia, and Slovenia were dropped one level.
The ratings agency reiterated its ratings on Belgium, Estonia, Finland, Germany, Ireland, Luxembourg, and the Netherlands.
Standard & Poor's has officially cut the long-term credit rating of France and eight other Eurozone nations.
Italy, Portugal, Cyprus, and Spain saw two notch downgrades, while Austria, France, Malta, Slovakia, and Slovenia were dropped one level.
The ratings agency reiterated its ratings on Belgium, Estonia, Finland, Germany, Ireland, Luxembourg, and the Netherlands.
Fed Plays PR Games
By:
John Browne
Friday, January 13, 2012
The world was taken by surprise recently by the Federal Reserve Board’s announcement that it would publish some of its economic forecasting that forms the basis for its short-term interest rate strategy. The Fed claims that the move will vastly increase so-called transparency, which has become a buzz word for honesty and virtue. However, the new policies do nothing to remove the cloak of secrecy that conceals still many of its most significant activities. This myth of new transparency will do little to lure investors back into the markets but as an unintended consequence will reveal just how profoundly the markets are currently guided from the top.
John Browne
Friday, January 13, 2012
The world was taken by surprise recently by the Federal Reserve Board’s announcement that it would publish some of its economic forecasting that forms the basis for its short-term interest rate strategy. The Fed claims that the move will vastly increase so-called transparency, which has become a buzz word for honesty and virtue. However, the new policies do nothing to remove the cloak of secrecy that conceals still many of its most significant activities. This myth of new transparency will do little to lure investors back into the markets but as an unintended consequence will reveal just how profoundly the markets are currently guided from the top.
Markets Tumble as French Downgrade Causes Chaos
By Tom Nicolson: Subscribe to Tom's RSS feed
January 13, 2012 11:10 AM EST
Financial rating agency Standard & Poor's is poised to downgrade the French credit rating in an expectation that has sent shockwaves through the eurozone and global markets.
France, along with the other eurozone countries, was put on to "negative credit watch" towards the end of 2011 but the official announcement of the downgrade from AAA to AA is likely to put huge pressure on President Nicolas Sarkozy just months ahead of the general election.
The downgrade will mean France's sovereign bond yield will increase, making it essentially more expensive for Paris to borrow money. That will ultimately weaken the French economy.
January 13, 2012 11:10 AM EST
Financial rating agency Standard & Poor's is poised to downgrade the French credit rating in an expectation that has sent shockwaves through the eurozone and global markets.
France, along with the other eurozone countries, was put on to "negative credit watch" towards the end of 2011 but the official announcement of the downgrade from AAA to AA is likely to put huge pressure on President Nicolas Sarkozy just months ahead of the general election.
The downgrade will mean France's sovereign bond yield will increase, making it essentially more expensive for Paris to borrow money. That will ultimately weaken the French economy.
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