By Russ Winter: Considering the rush of gold orders in mid to late April, it is understandable that there would be some temporary delays in delivery. However, we're now into mid May and sources indicate those same orders are still unfulfilled. Show More Summary
By Russ Winter: Often there is sound justification for an investment bubble in the beginning that can be identified in hindsight. This doesn't really do us much good. In the case of gold, I believe it is more useful to construct the reasons early, often, and ahead of the herd. Show More Summary
By Russ Winter: This month's Bank Participation Report (BPR) in gold was highly revealing. It gives considerable clues about what happened during the big POG swoon, and what the players did. In a nutshell, the bullion banks squared their positions and left the hedge funds holding the bag. Show More Summary
By Russ Winter: The lead time from discovery to a producing mine is typically 10 to 15 years unless it's already very near a producing district or mine, as you can see on the following chart from the European Gold Forum. The chart shows there were three large exploration cycles in the last 30 years. Show More Summary
By Russ Winter: Torex (TORXF) stands out because it has two high value targets at its Morales project in the Guerro gold belt, right next door to Goldcorp's low cost Los Filos mine. Torex's Todos Santos is shaping up to be of the same genre. Show More Summary
By Russ Winter: Contrary to conventional wisdom, mining costs for gold producers are not spiraling out of control. Yes, the last 10 years has indeed been inflationary for miners. In the decade leading up to 2011, costs rose 256%. Apparently, that's a trend that investors and analysts are carrying forward in their extrapolations. Show More Summary
By Russ Winter: Silver is a special story. Without a doubt it's a supply-and-demand tightrope act. There's a limited supply, and it's tied up in markets where demand could suddenly soar. As such, it's a wild ride that tends to scare investors who don't understand the whole story. Show More Summary
By Russ Winter: In December I wrote "Setting Up the Japan Panic Trade", and this article updates the situation. The Japanese have conjured a true end game that should implode the country in a manner of a few months. In the prior article, I reviewed the fundamentals of Japan's Hari Kari-style fiscal and economic policy. Show More Summary
By Russ Winter: The current situation in the Union of South Africa is ominious. Exposure of its currency (ZAR) to large amounts of foreign "hot money" further adds to the impact. Since 2009, gross S. Africa public debt grew by about $80 billion, with half picked up by foreign-creditor "yield chasers." Currently, S. Show More Summary
By Russ Winter: The love affair by default with the US Dollar has reached an all time high in terms of sentiment and speculative positions (chart 1). Of course any thinking person would come to the correct conclusion that the USD is merely in first place in the Ms. Show More Summary
The year was 2010, and the loss of Senator Russ Feingold signaled the ringing in of a dark winter in Wisconsin.
By Russ Winter: Germany is dealing with a fundamental deficiency in the European financial crises. The deficiency explains why their foray into punitive wealth seizures of bank depositors shouldn't come as any surprise. The potential liability charts below show Germany's exposure. Show More Summary
By Russ Winter: Other than the bottom in gold back in late 2008, the managed-money funds rarely make big bets against gold -- until now. During the last three weeks, it appears that these funds played a major role in the rote 8 a.m. "selling" in gold futures. Show More Summary
By Russ Winter: When you finally get a headline and story like the following out of a mainstream financial outlet like Bloomberg, it means the Fed has trouble: "Fed Joining in Alarm over Distortion it Ena bled." During the last several...Show More Summary
By Russ Winter: The "great rotation" is th e newest propaganda meme for the masses. On Google search stats, the last major spike was the 2007 market high. This one has been around for awhile and now shows a recent search surge. However,...Show More Summary
By Russ Winter: An article in the "Arizona Republic 'Phoenix Becomes Virtual Investor's Housing Market', reveals how a handful of large financial institutions are dominating housing purchases and ownership in regions such as metro Phoenix. Show More Summary
By Russ Winter: Market action in the consumer sector as demonstrated by the XLY (XLY) and XRT (XRT) has been in a choppy, range-bound pattern since April. Note that like much else in this paper, central-planned, manipulated market, that real trading has evaporated and volume has shrunk considerably. Show More Summary
As the MLB winter meetings finished up, the New York Yankees walked away in a new, familiar way—without any major players signed. Aside from re-signing a few older pitchers and picking up Kevin Youkilis and Russ Canzler, New York has done very little throughout this offseason. Show More Summary
By Russ Winter: The $4 trillion wealth management products (WMP) story in China is getting both very nasty and is being kept under wraps. The government there is going so far as to censure news coverage. However, there is also a decent...Show More Summary
By Russ Winter: Do a Google search for Basel III, gold and Tier 1 and you will see a lot of bullish chatter about banking regulations and moving gold from Tier 3 to Tier 1 or quasi Tier 1 status. Gold is being brought back, at least in part, into the global financial system as money, ending the argument that it has no utility. Show More Summary