Both gold and silver had their lows early in the trading day on Thursday morning. The low in gold was during Globex trading when the New York bullion banks have the run of things…when their counterparty is a gold trader on his cell phone in Western Samoa someplace. Anyway, the low for gold was shortly before Sydney opened on Thursday morning…and the low for silver occurred a few hours later.

From there, both metals rallied slightly, but the real action didn’t start until the Comex opened for business at 8:30 a.m. in New York. Once New York began to trade, both gold and silver tacked on some nice gains…but they ran into the proverbial brick wall once London closed for the day at 11:00 a.m. New York time. After that, the gold and silver markets were comatose.

The usual N.Y. commentator said that…”Today was essentially a nightmare for the Bears: strong buying

...

Gold was basically comatose all through Far East and European trading…with what activity there was, beginning [as is mostly the case] once floor trading began on the Comex in New York. Volume was decent in both metals, and both gold and silver’s attempts to go vertical shortly before the London close got firmly stopped in their tracks. The usual New York gold commentator noted that a very large 80,482 gold contracts had traded by 11:00 a.m….with a total of 110,979 for the entire day.

I find it highly suspicious that the Dow hit its high of the day and the US$ hit its low of the day at precisely the same moment that the vertical gold and silver price rallies were cut off at the knees around 10:30 New York time. You can read into that whatever you want.

...

People of good intentions and progressive predilection are scratching their heads wondering just how President Barack Obama managed to turn himself into George W. Bush Lite with sugar-on-top just twelve weeks after that fateful walk down the US Capitol’s east stairway to the waiting helicopter. I’m hardly the first observer to note that Mr. Obama’s actions in the face of an epochal finance fiasco and economic collapse are a mere extension of the pre-January-20 policies, carried out by much the same cast of characters.

The assumption up until now was something about the reassuring value of continuity — if we could just prop up an ailing set of banks for a little while, the US public could resume a revolving credit way-of-life within an economy dedicated to building more suburban houses and selling all the needed accessories from supersized “family” cars to cappuccino machines. This would keep everyone employed at the

...

Both gold and silver were comatose all night long in the Far East…and all through European trading once again. However, the moment that the London p.m. fix was in, both metals’ prices went vertical. Silver got capped before it hit $13…but gold managed to close above $900, and is now above $910 as I write this. As I said yesterday…Friday is options expiry…so be ready for anything. But even I wasn’t expecting that. Today’s New York price action should be enlightening.

Needless to say, Ted Butler and I had a discussion about yesterday’s goings-on. His guess [and it's only a guess] is that the ‘four or less’ traders in the Commercial category of the Commitment of Traders…all bullion banks…have covered all the shorts they can by rigging the price to the downside…and now they’re forced to cover their shorts in silver and gold by buying in the open market. This action

...

My son, Kenji, was only three years old when I took him to Disneyland. And his favorite two rides were Dumbo the Flying Elephant and It’s a Small World. I swear, I had to listen to my son sing It’s a Small, Small World a couple hundred times over the next week. Walt Disney was a visionary in many ways. And he really nailed the concept of a shrinking world. But while he may have been thinking about a shrinking world in social terms, the global economy has been shrinking at a pace that even Disney couldn’t have foreseen. The World has become One Interdependent Global Economy The Group of Twenty industrial countries (G-20), which met last week in London, were responsible for 85 percent of the global gross domestic product....

A plea to lawmakers…give liquidation a chance!

U.S. stockowners got a break yesterday…the Dow rose 236 points. News reports tell us that investors were listening to Ben Bernanke. He’s speaking to Congress…intending to boost investor confidence. But we can’t find anything in Bernanke’s remarks that would give us much confidence.

In fact, consumer confidence is at a record low. And investors couldn’t have taken much comfort from the Fed chief. Bernanke said the economy would start to grow again in 2010…and then, only if the banking system is stabilized. Of course, Bernanke is talking nonsense. He doesn’t know when the economy will begin to grow in earnest again, and if it does begin to grow it won’t be because the banking system is stabilized. You can stabilize a comatose person. You can stabilize a battlefield. You can stabilize a ladder. But stabilizing a crummy bank won’t help the economy grow. For that

...

GoldDrivers 2009 - Extraordinary Bullish Outlook For Gold Eric Hommelberg

Gold proves itself as only true alternative for the dollar Confidence in currencies shaken to the core Gulf countries are keen to break away from the link with the US dollar Chinese appetite for US debt in decline Former Bank of England official expects dollar collapse Investors fleeing into gold as US prints trillions HSBC, Citigroup, Merril Lynch, Goldman Sachs all turning bullish on gold Senior gold shares ready to move higher after impressive 100% bull run since October 2008 Junior gold shares waking up - bottomed out in December 2008

This piece is an update on “GoldDrivers

...

The US Dollar and Gold in relationship to the Hui and currencies
By Duncan Cameron

Huge debate rages over the question as the old pop song goes “I cant live if living is without you” for China and its surplus dollars as to whether it will be invested into the US verses the US is a dog with fleas gasping out it’s last woof’s and ready for a horrendous drop in the dollar index when no one will loan it money any more.

For us as kiwi’s our currency has been the darling of speculators for its best returns in the OECD in what is considered a stable economy. Like our flightless bird called the kiwi, the national symbol is now looking decidedly like its ugly cousins  and is the fifth-worst of the 30 OECD countries, after Iceland (they are back out fishing for food ), which is forecast to have a

…

Deflation is every central banker’s worst nightmare, says Justice Litle. That’s why the Fed is pumping huge sums of money into the financial system. But if none of that money moves around the economy, it won’t make much difference. And so more dollars will be printed. Justice says this strategy means either a return to inflation or an all-out collapse of the dollar-based monetary system. Either way, gold will skyrocket.

This from Taipan Daily:

Today I want to talk about the concept of monetary velocity. (I know, I know… monetary what? You’ll see the importance by the time we’re done.)

Let’s start with some background. In Wednesday’s Taipan Daily we noted that short-term interest rates have fallen to multi-year lows. The flip side of falling interest rates is rising bond prices. When bond prices rise, interest rates fall and vice versa.

This means investors

...

Our Director of Marketing’s Grandfather died of a massive brain tumor when she was only about a year old. His last days were a combination of comatose and automatic speaking. He recited every line that he had ever spoken on stage (he was in the entertainment industry). Although she doesn’t remember it, it was very traumatic for her family.

Recurrent Glioblastoma Multiforme is the most common type of malignant primary brain tumor in adults. Treatment success has not significantly changed over the last 20 years, with most patients living less than one year after diagnosis despite aggressive surgery, radiation and chemotherapy. Additionally, Brain stem cell cancer is the most lethal cancer in children, with a survival rate of less than one year after diagnosis.

NeoPharm’s agreement with NINDS will serve as another step in pursuing the validation of the company’s proprietary drug, Cintredekin Besudotox (IL13-PE38QQR) (“IL-13”) and its impact on possibly

...