Leonard Melman Finds the Fiscal Cliff a Boon for Precious Metals

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The Gold Report: Leonard, what are the most pressing issues facing investors today?

Leonard Melman: Let's start with the fiscal cliff. If America falls into this abyss, the combination of tax increases and spending reductions will slow down economic growth. Interestingly, political leaders in Europe are calling for increasing taxes and decreasing spending in order to solve their problems. I find it amusing that the solution to economic problems being proposed by leaders on the European side of the Atlantic is thought to be the problem on the American side of the Atlantic.

TGR: How do you account for the disconnect?

LM: It is due to a philosophical inconsistency and a lack of economic understanding on the part of the world's political leaders, most of whom are not well qualified as economic thinkers, nor as philosophers for that matter.

TGR: How important is a philosophical stance to making a cogent economic analysis? Continue reading "Leonard Melman Finds the Fiscal Cliff a Boon for Precious Metals" →

Doug Casey on the Morality of Money

Posted on by The INO.com Team

Editor's note: Doug Casey is known around the world for many very good reasons. Among investors, he's well known for being a very successful speculator and author. More broadly, his unwavering support of human liberty and his criticism of institutions based on coercion as well as those who support them have made Doug a hero to many... and perhaps public enemy number one to some of those whom he criticizes.

Whether one agrees with him or not, Doug almost always has a singular take on issues and ideas, making his essays and talks highly stimulating. As we approach the end of the year – a time when people often reflect on their progress or lack thereof over the past year across all areas of life – this February 2011 interview of Doug Casey by Louis James on the morality of money seems especially trenchant. We hope it helps you reflect on your relationship with money and investing, and brings a renewed sense of clarity and purpose to your financial activities in 2013. Continue reading "Doug Casey on the Morality of Money" →

Happy Holidays from MarketClub

Posted on by The INO.com Team

Happy Holidays from MarketClub.We had to bribe these five staff members with eggnog and something a little stronger to get them to throw caution and snowballs to the wind. Our other staff members are working hard on the production of several new upgrades and features for the 2013 version of MarketClub. Don’t worry, we are keeping all the features you love and adding some new tools that are going to rock your world.

From the entire staff of MarketClub, including the ones who are not in this video, thank you for all your support in 2012. Here’s to a super profitable 2013.

Happy Holidays,
Dave and Adam Co-founders of MarketClub

Gold Chart of the Week

Posted on by The INO.com Team

Each week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Report (December 24 through December 28th)

What a week in the Precious Metals! While the drop in Gold and Silver caught me off guard, I suppose I was not totally surprised. Every year around this time, global markets get thin and it leaves price action vulnerable to unexpected, directional movement.

There were a few factors outside of light volume that may have played a role in the drop. First of all, Washington continues to overpromise and underperform on their Fiscal Cliff negotiations. One of the main points that will remain in limbo without a compromise is taxes. I believe that a large part of the selloff in the Metals was due to traders and investors continuing to book gains on long positions ahead of a potential tax hike next year. Furthermore, these drops invite new sellers to the market that are hoping for a larger scale setback. Second, it was rumored that a large position in the Metals was adjusted after Morgan Stanley decided to drop Paulson and his Metals based investment strategies. Continue reading "Gold Chart of the Week" →

Silver Slides into the Holiday Season, but Upswing Expected in New Year

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The feeling of Christmas may be in the air, as the classic holiday jingle goes, but silver bells are definitely not ringing this holiday season. The spot price of silver started off the week on a downward slide that by Thursday had led it to its lowest level in four months. That was the result of the white metal playing up to its precious metal side, tracking gold and ignoring the industrially positive third-quarter US GDP (up 3.1 percent on an annualized basis); it followed its yellow cousin’s lead in a sharp sell-off Thursday morning, touching a low of $29.51 an ounce to close near the psychological level of $30 an ounce, down nearly nearly 4 percent on the day. Continue reading "Silver Slides into the Holiday Season, but Upswing Expected in New Year" →