Saturday, September 8, 2012

Jim Sinclair: GLOBALLY Coordinated ‘Sterilized QE is IMMINENT, Gold Heading to $3,500 NOW!

Jim Sinclair notified his subscribers today that the Fed is about to follow in China and the ECB’s Quantitative Easing footsteps with UNLIMITED QE, and that GOLD IS HEADED TO $3,500 HERE AND NOW!!!

If gold reaches $3,500 on this move, expect silver to EASILY CLEAR $100/OZ!!! Better hope you are on this PHYSICAL TRAIN BEFORE IT LEAVES THE STATION!!

As our friends at Silver Doctors correctly note, if you have eyes to see, coordinated central bank monetary and fiscal stimulation action is taking place. Yesterday was “Draughi Day.” Today the Chinese officially released massive fiscal stimulus on top of the already monetary stimulus. Watch for the US Fed to chime in.

Jim writes: QE to infinity MOPEd as sterilized is falling into place. Please review my post from last weekend to you on the illusion of monetary sterilization.

Gold is going to and through $3500. The approach some long term gold bulls took toward gold, initiating a temporary short directly after Labor Day, is now in the process of backfiring badly. (more)

Top 14 Reasons to Buy Silver

Foreclosure Crisis in America a Wall St Engineered Collapse ?

Triple Lutz Report #207 – $1700 Gold, and Stocking Up On Food

from FinancialSurvivalNet

Gold broke the key $1700 resistance point yesterday. We can’t emphasize enough how important this event is. For the past year, gold has been range bound, staying below its 200 moving average for many months. Well no longer, the metals have a number of seasonal factors pushing them higher as well as the well known fundamental economic reasons. So like we’ve said many times before, start stacking. And while we’re on the topic of stocking up, we have a new sponsor. Preparewise is a twenty year producer of emergency food supplies. We’re not encouraging you to become an ultra-prepper, but just remember the scenes from Katrina and keep in mind that there are 10′s of thousands of people on the Gulf Coast who still don’t have power, victims of Hurricane Isaac. It always pays to be prepared, regardless of what the media says.

Click Here to Listen to the Audio

A Year of Deflation Coming Up?

Being deeply in debt is like being grossly overweight. You’re carrying around this extra baggage that slows you down, and without continuous, conscious effort you tend to stop moving.

That’s the situation in which the world finds itself. The debts accumulated in the past couple of decades are weighing down the major economies, threatening to pull them back into recession if not countered by massive deficit spending and monetary ease. This, according to the following Bloomberg article, is causing prices to fall in most sectors: (more)

What Hedge Funds Are Now Doing In the Gold & Silver Markets

from KingWorldNews:

With gold breaking $1,700 and silver nearing the $33 level, today King World News spoke with acclaimed trader Dan Norcini to get his take on where we are in the gold and silver markets after this latest move. Norcini was quick to lay out the position of the hedge funds in both of these markets as they are seen as a key driver.

Here is what the acclaimed trader had to say about the gold market: “The record net short commercial position in gold, including options, has been 237,000 contracts. Currently the commercials are at 161,000 contracts net short. But the key here is that the hedge fund position is still relatively low by historic standards.

So there is still significant room for the hedge funds to push this gold market higher….”

Norcini continues @

Peter Schiff on Squawk Box Sept. 7, 2012

The Great California Exodus

'California is God's best moment," says Joel Kotkin. "It's the best place in the world to live." Or at least it used to be.

Mr. Kotkin, one of the nation's premier demographers, left his native New York City in 1971 to enroll at the University of California, Berkeley. The state was a far-out paradise for hipsters who had grown up listening to the Mamas & the Papas' iconic "California Dreamin'" and the Beach Boys' "California Girls." But it also attracted young, ambitious people "who had a lot of dreams, wanted to build big companies." Think Intel, Apple and Hewlett-Packard.

Now, however, the Golden State's fastest-growing entity is government and its biggest product is red tape. The first thing that comes to many American minds when you mention California isn't Hollywood or tanned girls on a beach, but Greece. Many progressives in California take that as a compliment since Greeks are ostensibly happier. But as Mr. Kotkin notes, Californians are increasingly pursuing happiness elsewhere.

Nearly four million more people have left the Golden State in the last two decades than have come from other states. This is a sharp reversal from the 1980s, when 100,000 more Americans were settling in California each year than were leaving. According to Mr. Kotkin, most of those leaving are between the ages of 5 and 14 or 34 to 45. In other words, young families. (more)

Martin Armstrong: Update for Gold 9/7/2012

Gold has moved up into the 1700 level. We have closing resistance at 1720.7 – 1720.9. Gold rallied above this level, but this is the area to watch for the close of NYC. If we close above this area, then it is possible to rally a bit more but leaving this week as the highest weekly closing. The Monthly Bullish stand as the major resistance. We still have resistance at 17700 and 18000. October remains as a Directional Change and the monthly targets remain November, January, May and July.

Whenever you reach a high or low you reach the peak in emotions. This is typically indicative of important events. At highs, people are convinced it will only go higher. At lows, they are throwing in the towel and give up. The majority ALWAYS have to be wrong for that is the mechanism that makes events change. In 1999 when Britain was selling gold reserves, the expectation was Italy and Spain would follow. They did not. So expect emotions to run high. That is necessary for all important turning points.

Today remains the ideal for a high at this time. The computer projected a high for this time frame at the last Conference. The Daily Bearish now will be under the 16500 level. The critical support on the weekly level has now moved up to 16680. Weekly turning points will be 9/17, 10/01, and 10/29-11/05. Weekly Bullish are still overhead at 18000 Of course the majors stand above 19000. The forecasting Arrays are being sent to all those attending the conferences & subscribers to the Metals Report. (more)

The Reason Why The Unemployment Rate Dropped? The LABOR PARTICIPATION Rate Is At Fresh 31 Year Lows

from Zero Hedge:

Curious why the unemployment rate dropped from 8.3% to 8.1%, even as just 96,000 jobs were added? The labor participation rate declined from 63.7% to 63.5%, the lowest since 1981. It means that somehow in August the labor force declined by 368,000 people, which is a paradox since according to the household survey 119,000 jobs were lost in August, yet at the same time the unemployment rate dropped. Remember: it is an election year.

Read More @ Zero Hedge