Today one of the savviest and most well-connected hedge fund managers in the world spoke with King World News about the exact price level where a large sovereign buyer has a massive order for physical gold. He also updated KWN readers on the state of physical demand around the world for gold, as well as…
Published on Sep 24, 2013
In this episode of the Keiser Report, Max Keiser and Stacy Herbert, discuss the US Federal Reserve Bank as ‘the greatest hedge fund’ in history and ask whether or not their quantitative easing policy is like trying to pass pork off as a prime cut of beef. In the second half, Max interviews precious metals trader, Andrew Maguire, about JPMorgan whistleblowers and the Federal Reserve Bank taper hoax.
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In this 500th episode of the Keiser Report, Max Keiser and Stacy Herbert, discuss what the economy and financial sector look like five hundred episodes later. They find an economy where the wealth and income gap is the highest ever, median income has collapsed and the mainstream media alleges the government is ‘assaulting’ JP Morgan…
Goldman Sachs precious metals analysts Damien Courvalin and Jeffrey Currie are out with an update on gold prices following the Federal Reserve’s surprise decision to refrain from announcing a tapering of quantitative easing yesterday, which sent gold soaring.
Courvalin and Currie are bearish on the metal, but say the rally could have further to run this year:
Near-term upside on delayed taper but still bearish into 2014
The FOMC unexpectedly decided not to taper the rate of its asset purchases, preferring to wait for further confirmation of improvement in the US economic outlook. This announcement, as well as Bernanke’s press conference, was more dovish than most had expected, pushing gold prices to $US1,365/toz. The decision, combined with the upcoming debt ceiling debate, leaves risks to gold prices as skewed to the upside in the near- term, in our view.
However, with gold prices already back near their pre-June FOMC level, COMEX net speculative positioning already back at its April level as well as growing pressures on EM gold demand, we believe that this upside will ultimately prove limited (see Neutral gold prices near- term but still expecting new lows in 2014, September 17, 2013). We believe this is well illustrated by today’s more muted rally in gold prices when compared to the significant rally in 10-year TIPS yields, helping close the significant valuation gap that had occurred between both assets over the past month.
As a result, we re-iterate our neutral stance on gold prices and continue to expect that gold prices will resume their decline heading into 2014 when we expect economic data to solidly confirm a reacceleration in US growth and warrant a less accommodative monetary policy stance.
Gold is up 4.6% today in the wake of the Fed’s decision, trading at $US1367 an ounce.
Yesterday it was Goldman capitulating [5]on their near-term gold, er, capitulation reco (expectedly so after gold ripped over $75 in the span of 24 hours). Now, it is Bank of America’s turn to close their silver short. To wit: “The Wednesday Bullish Candlestick formations (Bullish Engulfing Candles) in gold and silver say that our bearish view on…
“We are going to get to see how high the bond market can rally in the wake of no tightening, but most importantly, where it fails. That’s going to be the most interesting thing to see from a big, macro standpoint. Obviously from a positioning standpoint, people that have not believed in the Fed, and…
Max Keiser and Stacy Herbert discuss economic espionage and, perhaps, sabotage by the NSA against the corporations and innovators of competitor nations. In the second half, Max interviews author, journalist and filmmaker, Greg Palast of GregPalast.com, about the Larry Summers’ secret ‘End Game’ memo and the decriminalization of what were once financial crimes.
Commotion by James Howard Kunstler http://kunstler.com/ Now that Lawrence Summers has removed himself from consideration as Federal Reserve chairman, President Obama is free to launch him into Syria as the first human rehypothecation weapon of mass destruction, where he can sow enough confusion between Assad’s Alawites and the Qaeda opposition to collateralize both factions into contingent…
According to Deutsche Bank, the total return performance of Major Global Financial Assets shows that Silver had the highest percentage gain. If we look at the chart below, we can see that both gold and silver take the number 1 & 2 spot amongst these global financial assets. Here we can see that silver has…
London metals trader Andrew Maguire, who broke the news to King World News about two courageous JP Morgan whistleblowers confessing that JPM manipulates the gold and silver markets, warned KWN that the Fed, LBMA, Comex, and the bullion banks are now on the edge of disaster. He also told KWN exactly where massive central bank…
This is what Michael Pento told King News that he believes this chart that clearly chronicles the after-hours price spike was all about. Money positioning itself for the coming skyrocketing in gold prices. My thoughts are that any entities which are naked short gold, and don’t have the ability to deliver the underlying commodity, now…
