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Analysts see gold retesting all-time highs in 2012

gold bars
© Jung Yeon-JE/AFP/Getty Images
Gold prices took a beating in late 2011, but many experts think the path in 2012 is still paved with higher prices.

Gold had a wild 2011, starting the year at $1,412 (U.S.) an ounce, hitting a low right out of the gate of $1,314 and then rallying to an intra-day high of $1,923 an ounce.

The past few months have not been kind for gold. The precious metal tanked 13 per cent in September and 8 per cent in just three days last week as a strong dollar hammered prices. Gold's haven status looked to be a thing of the past as negative headlines out of Europe triggered a rush into the dollar instead of gold as liquidity dried up.

But gold's recent massacre is not scaring most experts.

"What I am looking for is a gold price of $1,800 an ounce in 2012," says Jeffrey Wright, senior research analyst at Global Hunter Securities. Wright says there could be spikes to $1,900 or $2,000, especially if gridlock in Congress brings up another budget battle and highlights the U.S.' own fiscal problems. "Once we get back into those discussions, there will be further pressure on the U.S. dollar and a refocusing on gold as a safe haven asset."


Iran Launching "Massive" Ten Day War Game Tomorrow In Close Proximity To CVN-74 John Stennis

Iranian navy boats
© Tehran Times
As the rest of the world enjoys Festivus or whatever celebration one indulges in, Iran is launching a "massive" 10 day war games naval exercise right in the belly of the beast. From Xinhua: "Iranian Navy Commander Rear Admiral Habibollah Sayyari on Thursday announced the upcoming launch of ten-day massive naval exercises in the international waters, the local satellite Press TV reported. Sayyari said at a press conference on Thursday that the naval maneuvers dubbed Velayat 90 will start on Saturday and will cover an area of 2,000 (1,250-mile) km stretching from the east of the Strait of Hormuz in the Persian Gulf to the Gulf of Aden, the report said.

This is the first time that Iran's Navy carries out naval drills in such a vast area, he was quoted as saying. He said that the exercises will manifest Iran's military prowess and defense capabilities in the international waters, convey a message of peace and friendship to regional countries and test the newest military equipment among other objectives, said the report. He added that the newest missile systems and torpedoes will be employed in the maneuvers, adding that the most recent tactics used in subsurface battles will also be demonstrated. Iranian destroyers, missile-launching vessels, logistic vessels, drones and coastal missiles will also be tested, said the Iranian commander, according to the report."


"If Ron Paul wins Iowa, we just take it out"

MSM now announcing in advance their intention to black out/discredit Ron Paul if he wins Iowa. Roger Simon is the Chief Political Columnist at Politico.

Black Cat

Best of the Web: R.I.P. America

© corporatecriminalsexposed.com
It has been painful and disgusting for me to watch the US continue to devolve into a beast worse than any real or perceived 'terrorist'. With the passage of The Defense Authorization Act, aka: Bill S.1867, the leadership of America has proven to the world that are psychopathic, traitorous, treasonous and do not stand for anything that has made America in the past the beacon of freedom, liberty, democracy and hope in this world. They have also proven they are anti-freedom, anti-liberty, anti-democracy, anti-justice, and anti-rule of law.

Whatever scant remains of a moral high ground the US government may have claimed in the midst of all of its grotesque lies and misdeeds, and its malfeasance of office since 9-11-2001, it was forfeited it with the passage of S.1867.

When any citizen of the US can be perceived, deemed, or even deliberately painted as an enemy combatant of 'this government', that person can now be detained without trial indefinitely. To Hell with the US Constitution, to Hell with the 4th, 5th and 14th Amendments, to Hell with the right of habeas corpus, and the Bill of Rights and the law of the land. Any sense of decency, any sense of veracity, any sense of leadership was sacrificed with the passage of this monstrously un-Constitutional bill by the Senate and House.

Bad Guys

The Utter Insanity of Attacking Iran's Nuclear Sites

Sometimes the obvious needs stating.

If or, rather (it appears), when Iran's nuclear sites are attacked we know that the consequences will be dreadful for Iranians and probably everyone else on the planet.The consequences might easily also provide a horrible surprise for those who expect to profit from the global cataclysm that will almost certainly ensue.

Bad Guys

Best of the Web: A Christmas Message From America's Rich

Wall Street Sign
© Dario Cantatore/Getty

It seems America's bankers are tired of all the abuse. They've decided to speak out.

True, they're doing it from behind the ropeline, in front of friendly crowds at industry conferences and country clubs, meaning they don't have to look the rest of America in the eye when they call us all imbeciles and complain that they shouldn't have to apologize for being so successful.

But while they haven't yet deigned to talk to protesting America face to face, they are willing to scribble out some complaints on notes and send them downstairs on silver trays. Courtesy of a remarkable story by Max Abelson at Bloomberg, we now get to hear some of those choice comments.

Home Depot co-founder Bernard Marcus, for instance, is not worried about OWS:
"Who gives a crap about some imbecile?" Marcus said. "Are you kidding me?"
Former New York gurbernatorial candidate Tom Golisano, the billionaire owner of the billing firm Paychex, offered his wisdom while his half-his-age tennis champion girlfriend hung on his arm:
"If I hear a politician use the term 'paying your fair share' one more time, I'm going to vomit," said Golisano, who turned 70 last month, celebrating the birthday with girlfriend Monica Seles, the former tennis star who won nine Grand Slam singles titles.

War Whore

Univision Promoting War with Iran?

In a Univision documentary it is being alleged that Iran, Venezuela and Cuba are joining forces to plan attacks on the United States. According to the documentary the three countries are meeting in Mexico to plan terrorist attacks greater than 9/11 on the US. Some right-wing US lawmakers are taking these allegations seriously, or is it all propaganda? Jamal Abdi, policy director of the National Iranian American Council, joins us to sort through the evidence.


Finland "Finds Patriot Missiles" on China-Bound Ship

© AP PhotoPatriot missile systems are supplied to US allies
The Finnish authorities have impounded an Isle of Man-flagged ship bound for China with undeclared missiles and explosives, officials say. Police are questioning the crew of the MS Thor Liberty after what were described as 69 Patriot anti-missile missiles were found aboard. Interior Minister Paivi Rasanen said the missiles were marked "fireworks".

The MS Thor Liberty had docked in the Finnish port of Kotka after leaving Germany last week. Dock workers became suspicious after finding explosives poorly stored on open pallets, and the missiles were then found in containers marked "fireworks".

The managing director of the ship's owner, Thorco Shipping, expressed surprise. Thomas Mikkelsen told AFP news agency from Denmark that he was unaware of the matter. Another company official, speaking on condition of anonymity, confirmed the ship had been detained in Finland and said the missiles could have been loaded on to the vessel by mistake, AFP adds.

Police did not confirm Finnish media reports that the ship had also been scheduled to stop in South Korea, Reuters news agency reports.


Dozens die as bombs explode across Baghdad

Attacks ratchet up sectarian tensions at a time when many Iraqis were already worried about security

A wave of bombings ripped across Baghdad on Thursday morning, killing at least 69 people and injuring almost 200 in the worst violence Iraq has seen for months. The apparently coordinated attacks left a bloodbath just days after American forces left the country.

The blasts also came on the heels of a political crisis between Iraq's Sunni and Shiite factions that erupted this weekend.

The political spat has raised fears that Iraq's sectarian wounds will be reopened during a fragile time when Iraq is finally navigating its own political future without U.S. military support.

The string of explosions will ratchet up tensions at a time when many Iraqis are already worried about security. If continued, it could lead to the same type of tit-for-tat attacks that characterized the insurgency years ago.

At least 14 blasts went off in the morning and there were two more in the evening.

The White House on Thursday said in response to the attacks, "At this difficult time, the United States stands with Iraq as a strategic partner and a close friend. Attempts such as this to derail Iraq's continued progress will fail."

"We continue to urge leaders to come together to face common challenges," the White House said.

Comment: It's certainly not a coincidence that the supposedly "sectarian violence" commenced right when the American troops are supposedly "leaving" Iraq, but not for the reasons mainstream media wants us to believe. A few staged False Flag Operations will keep everyone scared and show that the government of Iraq is weak, in desperate need for the help of their American "friends".


US Military 'Ready to Engage in a Conflict with Iran'

© Reuters/EPAIran's President Mahmoud Ahmadinejad and President Barack Obama
America's most senior military official has indicated that the country is ready to engage in a conflict with Iran, if President Barack Obama were to give the signal.

Tensions have been growing in the region following international condemnation over Tehran's growing nuclear ambitions.

Last month, Britain's ambassador to Iran was expelled from the country following attacks on the British Embassy. The US is also involved in a standoff over a downed spy drone, which President Mahmoud Ahmadinejad has refused to return despite America's requests.

General Martin Dempsey, chairman of the US joint chiefs of staff, said that the US military had reached a point where they were ready to execute force against Iran if necessary.

In an interview with US media in Afghanistan he said: "We are examining a range of options. I'm satisfied that the options that we are developing are evolving to a point that they would be executable if necessary."

His comments come just days after Leon Panetta, US secretary of defence, said "no options were off the table" in stopping Iran develop a nuclear weapon.