Michael Pento - Gold to Break $10000

"It wouldn’t surprise me if gold eventually goes to $10,000 an ounce or even higher because there is no limit to the productive capacity of central bankers to produce currency. I think it would be more surprising if gold didn’t go to $10,000 an ounce. When the US dollar loses its world reserve currency status and the US bond market collapse is in full swing, a $10,000 gold price may prove to be very conservative.”

- Michael Pento via a recent King World News interview, read the full interview here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/12/28_Man_That_First_Spotted_QE4_Now_Says_Gold_To_Break_%2410%2C000.html

Merry QE To All!

Marc Faber on CNBC - Reality vs Delusion

"A Cassandra is a hopelessly honest person, while a Pollyanna is an incredibly hopeful person, the incurable optimist. Cassandras are often disparaged as "nattering nabobs of negativism/negativity," instead of being looked upon as prophetic realists, while Pollyannas are deservedly dismissed as the "pandering puppies of positivity/positivism." To wit, this wondrously self-satirical clip pitting Marc Faber's doom-and-gloom reality with Becky Quick's boom-and-boom status quo."

- Sources: ZeroHedge and CNBC:

http://www.zerohedge.com/news/2012-12-23/cassandra-marc-faber-versus-pollyanna-cnbc#comment-3092002

http://www.cnbc.com/id/15839263/Video_Gallery

Currency Debasement Is Assured

"The fundamentals for gold are unassailable, the long technical picture is excellent and gold remains very inexpensive when compared to almost every other alternative (most particularly, bonds, treasury bills and bank deposits). With currency debasement assured and some form of hyperinflation probable, gold should trade at several multiples of the current price before this bull market reaches its end."

- By John Embry

The Physical Market is Reasonably Tight

"The physical market (for gold and silver) is reasonably tight. You’ve seen things like China, which is now arguably the largest gold producer in the world, being the largest gold importer in the world. You are seeing steady physical off-take in a market where the futures markets would seem to be adequately balanced between buyers and sellers.

So you aren’t seeing advances in the long prices of gold. But what you are seeing is continued physical off-take. I think, ultimately, that will be reflected both in the spot price of gold and in the futures prices of both gold and silver. You know we’ve now bought $4.3 billion worth of gold and silver.

I would suggest that within Sprott we are developing a core competency in terms of our ability to time our offerings to the availability of gold and silver in the market. We did have a problem a year ago obtaining silver when one of our offerings raised more money than we had anticipated it would.

But we’ve learned a lot about the physical market for gold and silver bullion. So, at least in the current context, were we to do an offering on the gold and silver side, my suspicion is we would be fairly competent at deploying the capital we raised in equity markets, in (to) the physical markets.”

- Rick Rule during a recent King World News interview, read the full interview here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/12/13_Largest_Capital_In_The_World_Now_Entering_Gold_%26_Silver_Space!.html

This Will Consume 30% - 50% of Silver Production

“Silver is not just a medium of exchange. It has a longer history as a medium of exchange than even gold, but it’s much more than that. So when I talk about photovoltaics, I’m talking about just one use of this incredible metal. But this one use, by my calculations, will consume an inordinate amount of silver within the next five to seven years.

I’m talking about the need for 700 gigs of photovoltaics between now and 2020. The amount of silver that we are going to need just for photovoltaics will amount to 30% of all the world’s yearly supply. In other words we will need 30% of those tons (of world silver production) just for this one use. By 2020, the amount that we will need (is a staggering) 50% of the world’s (yearly silver) mine supply.

Now consider the fact that silver is also used for all of these other industrial uses, investment (purposes), jewelry, and so many other kinds of applications. There is no way I can see of connecting these dots (in terms of silver supply). I would stock up on silver."

- Stephen Leeb via a recent King World News interview, read the full interview here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/12/5_This_Is_Going_To_Require_30_-_50_Of_Global_Silver_Production.html

Here Comes the Fiscal Cliff

Presented without explanation. I think this picture speaks for itself.

15 Year of Resistance in Gold and Silver to be Crushed

"There will ultimately only be one resolution to these games which are being played, and that is a massive explosion in the price of gold and silver. I’m never going to be happy until I see gold up $100 and silver up several dollars in one day because then I will know that the resistance which has constantly been there for 15 years has finally been overcome. We are now getting very close to seeing that event take place.”

- John Embry via a recent King World News interview, read the full interview here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/11/26_We_Are_About_To_Crush_15_Years_Of_Resistance_In_Gold_%26_Silver.html

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Wealthy Investors Continue to Buy Gold

"We just had reports that both Paulson and Soros have been adding to their gold positions, which now total roughly $4 billion. It doesn’t surprise me that they are adding to positions. My suspicion is that in the coming months we are going to see more reports of large and influential investors doing the same thing.”

- Rick Rule, via a recent Kind World News interview, read the full interview here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/11/23_More_Filings_From_Large_%26_Influential_Investors_Buying_Gold.html

AD: INVEST BEFORE A CRISIS HIT'S, BECAUSE AFTER IS TOO LATE:

SURVIVAL SUPPLIES | GOLD | JUNK SILVER | KNOWLEDGE | DEFENSE

Niall Ferguson - The Rise of China

"Harvard Professor Niall Ferguson talks to GoldMoney's Alasdair Macleod about global politics, with special emphasis on China's prospects and challenges in the years ahead.

They discuss the political and economic situation in China, and the need for the Chinese government to start privatising state enterprises, reshape the country's rule of law and globalise the renminbi. For Ferguson, the key question is whether or not Beijing will introduce reliable private property rights so that the rising middle class can feel secure.

China fears that its large dollar claims will be worth much less in the future. Besides complaining about this, they are looking for ways to diversify their wealth and revenue stream. Ferguson points out though that there are limits to their ability to secure hard assets. They also discuss China's relationship with Russia and its role in the Shanghai Cooperation Organisation.

Ferguson states that the gold flow from "the West to the Rest" is reflective of declining Western power. The world's centre of gravity is shifting east -- a shift that is going to continue, and that is taking place at an extremely fast pace when looked at in a historical context. Though China's economic expansion could slow, Ferguson expects another 20 years of solid growth before demographic problems force the country's economy to stall.

Finally they talk about Japan's debt problems and the faulty design of the European currency union. Though Ferguson expects the eurozone to stay together, he expects a Japanese-style "lost decade" -- and one sadly lacking in Japanese-style social harmony."

- Source, GoldMoney Research:

http://www.goldmoney.com/gold-research.html

Kyle Bass - Very Few Get the Crisis Correct

"Hayman Capital Management's Kyle Bass talks the European debt crisis. He speaks with Bloomberg's Stephanie Ruhle on Bloomberg Television's Market Makers."

- Source Bloomberg TV:

http://www.bloomberg.com/video/kyle-bass-very-few-get-the-crisis-correct-GZ5Fsll9RF~yT8xyt6hsuA.html

Bill Gross - It's a Grand Canyon

"US fiscal cliff deeper than advertised. Its a Grand Canyon. Washington will defer entitlement cuts & raise revenues only marginally."

- Bill Gross via a recent twitter comment:

https://twitter.com/PIMCO?tw_i=267603157725638658&tw_e=screenname&tw_p=tweetembed

The Gold Shorts are Panicking

“It would not surprise me to see a melt-up as the day progresses after-hours or overnight if gold clears $1,720 and does not fall back. Gold could head quite rapidly to $1,740. The strange thing about this is the dollar has barely budged in all of this, so we have to keep an eye on the integrity of this move.

The trading is all about momentum and panicked short covering right now...."

- Trade Dan Norcini via a recent King World News interview, read the full interview here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/11/6_Massive_Short_Covering_%26_Buy_Stops_Triggered_In_Gold_%26_Silver.html

Silver Stocks are Cheaper than Dirt

"Silver is still selling on the bargain table, and the silver stocks were selling below bargain table prices. But look at the silver stocks now. Something BIG could be brewing. Maybe it's time to buy GDX and GDXJ or even SLV. Silver, the “forgotten” commodity, is coming into its own. How do we know that? The silver stocks are telling us so."

- Richard Russell via a recent King World News interview, read the full interview here:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/10/30_Richard_Russell_-_Big_News_For_Silver_%26_Frankenstorm_In_Stocks.html

Bundesbank Secretly Withdraws Two Thirds Of Its London Gold

"Two days ago we reported that the German Court of Auditors demanded that the German Central Bank, the Bundesbank, verify and audit its official gold holdings consisting of 3,396 tons, held mostly offshore, namely New York, London and Paris, at least according to official documents. It also called for repatriation of 150 tons in the next three years to perform a quality inspection of the tungsten gold. Today, in a surprising development, via the Telegraph we learn that none other than the same Bundesbank which is causing endless nightmares for all the other broke European nations due to its insistence for sound money, decided to voluntarily pull two thirds of its gold holdings held by the Bank of England. According to a confidential report referenced by the Telegraph, Buba reclaimed 940 tons, reducing its BOE holdings from 1,440 in 2000 to 500 in 2001 allegedly "because storage costs were too high." This is about as idiotic an excuse as the Fed cancelling its reporting of M3 in 2006 because "the costs of collecting the underlying data outweigh the benefits." So why did Buba repatriate its gold? Ambrose Evans-Pritchard has an idea..."

- Source, Zero Hedge, read the full post here:

http://www.zerohedge.com/news/2012-10-24/why-did-bundesbank-secretly-withdraw-two-thirds-its-london-gold

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