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Contact Leonard
244 - 2465 Apollo Dr.
Nanoose Bay, BC
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Telephone. 250.947.5505
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editor@themelmanreport.com
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Friday, July 29th, 2011
Of all the attributes of gold, one of the least
understood or mentioned is that it often functions as a “reverse
thermometer” of societal stability. In other words, as the functions
of society appear to be performing in a stable, satisfactory manner,
gold usually performs poorly, but if gold is soaring, then the
implication is society is heading toward “hell in a hand-basket.” Read Article
Wednesday, July 27th, 2011
Quite recently, we wrote about the seeming
non-conformity of gold and the US Dollar rising in tandem, rather
than moving in the opposite direction as had been the normal case
for most of the past several decades. As readers might recall, we
offered the explanation that both gold and the Greenback were
benefitting from the monetary turmoil in Europe and each may well
have been the beneficiary of funds seeking a safe haven. We also
added the caveat that: Read Article
Monday, July 25th, 2011
It has been our pleasure to have been
commenting, in one way or another, on political and economic events
and how they have affected our world of precious and base metals
mining for almost four decades. During all those years, we can never
recall a period when so many events of potentially cataclysmic – and
we use that term advisedly – events have been taking place virtually
simultaneously. Read Article
Friday, July 22nd, 2011
Every so often, a political or international financial leader
says something that perhaps provides a little more information to
the public than might have been intended. I believe such was the
case with a self-congratulatory statement from the IMF which was
printed in “The Times of London” newspaper this morning.
Read Article
Wednesday, July 20th, 2011
Going back to the general principals which
guide us, one of the most important is the concept that governments
have created the enormous debt problems now staggering one country
after another because for decade after decade, they spent more than
they have taken in via legitimate taxation revenues. Read Article
Monday, July 18th, 2011
TMR HEADLINE -"GOLD SMASHES THROUGH
$1,600 BARRIER TO NEW RECORD HISTORIC HIGH”
Read Article
Friday, July 15th, 2011
Call it posturing, call it grandstanding,
call it whatever you will, but a fascinating game of political
showmanship is now being played out in Washington against the
backdrop of an impending “drop dead deadline” date of August 2nd.
That is the date when the Treasury’s smoke and mirrors hiding of the
true debt comes to an end and present legal debt limitation law will
become reality. At least, that is what we can glean from the latest
barrage of “statements-of-the-moment.”
Read Article
Wednesday, July 13th, 2011
Somewhere just after 6:00 AM PDT, the
price of gold passed another milestone, trading for the first time
ever in excess of $1,580 per ounce on a major commodity exchange.
The chart clearly shows the breakout above the May 2, 2011 high of
just under the $1,580 mark. What we cannot know is just how powerful
this breakout will turn out to be; whether it is just a ‘flash in
the pan’ to be followed quickly by renewed selling, or whether it is
a prelude to much higher numbers for the yellow metal. Time will
tell.
Read Article
Monday, July 11th, 2011
It has been said that a picture is worth a
thousand words, and I suppose the rule also applies to well-selected
charts. In today’s case, then, we are about to offer two thousand
words worth of discussion, as there are two charts which we believe
are beginning to tell quite a tale.
Read Article
Friday, July 8th, 2011
Markets this morning were stunned by a
profoundly negative U.S. Department of Labor jobs report which
showed that only 18,000 new jobs were created by the U.S. economy
during June, far, far below ‘expert’ predictions. It is also worth
noting that the Unemployment Rate rose to 9.2%, up by one-tenth
percent from the previous month.
Read Article
Wednesday, July 6th, 2011
The first half of 2011 is now fodder for
the history books of the future, so it seems appropriate to take a
look back at our annual forecast, issued at the end of December
2010, and see if it requires any substantive revision. Here is what
we wrote in our Melman Minute of December 30, 2010
Read Article
Tuesday, July 5th, 2011
Somehow, during the rush of stories about
the Greek default crisis, the American budgetary crisis, the coming
struggle over the USA debt limit crisis and the other
attention-grabbing headlines of the moment, one of the most
important underlying influences regarding the prices of both the
precious and base metals seems to have been ignored. We are
referring to the influence of inflationary expectations.
Read Article
Monday, July 4th, 2011
SPECIAL SUMMARY – week of June 26 -
July 2, 2011
What a week to be absent from the markets we follow! While we were
‘enjoying’ the benefits of South American jungle travel last week,
markets from precious metals to interest rates to securities
exchanges to currency rates were making decisive moves, sometimes in
the form of sharp reversals from rece3ntly established trends. In
addition, the mining world itself was generating headlines in
various forms and many of our long-standing concerns such as the
Greek financial crisis, the USA debt limitation crisis and the
American budgetary crisis were all continuing to generate their own
recurring headlines as well.
Read Article
Wednesday, June 29th, 2011
After spending the better part of two days in Guyana,
including all day yesterday either flying over or immersed in true
tropical jungle, it is easy to draw two conclusions from our mining
tour in this country located along South America's northern coast.
Read Article
Monday, June 27th, 2011
First, the US National Debt has just taken
an upward lurch to $14.45 trillion, more than $150 billion above the
existing debt limit. This is putting pressure on the US Congress to
resolve the debt limit problem, and quickly.
Read Article
Friday, June 24th, 2011
Due to the extreme pressure of hard deadlines combined with
preparations for our forthcoming trip to Guyana, South America, this
morning’s Melman Minute must, of necessity, be both late and brief.
Read Article
Wednesday, June 22nd, 2011
In an important move which appears to have
caught many observers by surprise, gold appears to be moving higher
once again and now stands on the brink of an important technical
breakout. Read Article
Monday, June 20th, 2011
PHILOSOPHIC STATEMENT
It is worth repeating one of our favourite quotes at this time,
authored by the renowned Winston Churchill.
Read Article
Friday, June 17th, 2011
Overnight news has been focused on the growing crisis in Greece, one
which appears to have the potential to become a major international
problem. For those who have not been paying close attention, Greece
is now faced with the maturity of existing debt within the next few
months and they simply do not have the funds to repay that debt. In
other words, they could, quite literally, default on that debt,
thereby becoming the first major nation to fail in such a manner for
several decades. Read Article
Wednesday, June 15th, 2011
Markets on Tuesday rallied sharply, specifically including the
recently quiet commodity markets, with gold, silver, the base metals
and the petroleum complex all headed higher. At the other end of the
scale, the US Dollar and long term government bonds all fell
sharply. It may seem strange at first glance that higher prices for
commodities combined with a falling US Dollar would send securities
markets into a buying splurge, but, in our opinion, anything which
might alleviate concern about a possible double-dip recession will
be met with an optimistic reaction.
Read Article
Monday, June 13th, 2011
For some reason, the old movie “Groundhog Day” keeps coming to mind.
For those not familiar with that film’s plot, Bill Murray plays a
gentleman who must live through recurring Ground Hog days one after
another. The event which brought Murray’s classic film to mind was
the report out of Washington that President Obama had just announced
a plan to take new steps to reduce government waste.
Read Article
Friday, June 10th, 2011
Those of us who have been observing and writing about the world’s
economic structure for more three decades or more will not likely
ever forget the “Japanese Miracle.” Left for dead following their
humiliating defeat in WWII, Japan appeared to be headed for decades
– or even centuries – of troubled times, both socially as well as
economically. Read Article
Wednesday, June 8th, 2011
Our presentation entitled “On the Road to Hyperinflation – revised
June 2011” was well-received and, judging by the spontaneous 90
minute post-presentation question-and-answer session, we attained
our objective of raising interest in the subject matter.
Read
Article
Friday, June 3rd, 2011
The generally accepted version of the theories of John Maynard
Keynes tell us that when economic dislocations occur, government
should step in with aggressive actions to restore prosperity.
Read
Article
Wednesday, June 1st, 2011
LONG TERM STRATEGY UPDATE
Read Article
Tuesday, May 31st, 2011
One of the great questions facing metals investors is the future of
the United States dollar and it is almost impossible to over-state
the significance of that currency as virtually every important
commodity on earth is primarily priced in Greenbacks. In basic
terms, when the Greenback is appreciating, it takes fewer US$ to buy
a given quantity of such items and, conversely, when the Greenback
is falling in relative value, the quoted price per unit moves
higher. Read Article
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