This party would argue that Bill has been right for the wrong reasons while he was wrong for the right reasons. The last time I looked in the investment world, the winners were those who had more money from when they started and the losers were those who caused the opposite. Smart, lucky or whatever, Bill Murphy and GATA have been spot-on in gold for almost 10 years.

Bill was on Bloomberg TV last night. Other then a little slippage in the hair on forehead, Bill was his usual self – Thank God!

http://www.youtube.com/watch?v=rw4T6IdHJ3w

http://www.youtube.com/watch?v=06_NMci4xnw

http://www.youtube.com/watch?v=OYiQZzbzeXo

Good morning, everyone.  We are taping the show at 4:00 today, so kindly submit questions by 3:00.

Thanks and have a great day.

Regards,
George

The U.S. Dollar is showing signs of a doable short- to intermediate-bottom but needs to get above 78 on the U.S. Dollar Index to confirm, IMHO. Such a move could lead to a significant bear market rally so we shall watch closely.

If and when such a dollar rally takes hold, one should not assume it’s curtains for gold (as much as the mortally wounded perma-gold bears are praying for). Gold has so many long-term bullish factors going for it which I hope to discuss as we move closer to year-end. For now, it continues to demonstrate an ability to self-correct intra-day and my target of $1,200 for this year still remains a strong possibility. As I’ve stated often, $1,000 gold has gone from being a ceiling to floor so those looking to buy on weakness should not expect to buy gold again  for three digits for quite some time.

This has to be one of the worst-written articles I’ve ever read. I point this out for a couple of reasons:

• Look at the author’s past articles and you will find a big slant against “goldbugs.” This is not uncommon in financial journalism. Simon Constanable comes to mind as someone who can’t help himself but knock gold and those who believe in it. We all know several commentators on CNBC-TV have over the years “panned” gold whenever they can. BNN, a five star network in my book, also has some gold bear anchors. Frances Hurodelsk and Martin Cej can’t help themselves whenever they have a guest on gold. They always take the-cup-is-half-empty line. As I have said numerous times, gold will never be accepted by the masses as it flies in the face of owning financial assets, a factor most in the financial services industry and financial media need to do okay in order to prosper.
• Gold bears always point back to $850 gold, an event that, by the way, was a one day affair (gold fell quickly back to under $700 so very few people bought at $850). What they fail to do is to point back to the tops in the asset they love and live off of – stocks. The author of the article I refer to fails to note how much worse the masses are who bought stocks at their all-time highs. At least gold is back above its high nominally. Good luck to those who wait for the NASDAQ to hit 5,000 to do the same.

Now here’s a journalist who deserves a medal! If it was up to me, he would get the “John Crudele” medal of honor.

PLEASE NOTE – You must assume my opinions remain the same from my last commentary on a market or stock until such time I publish an update.

In the case of Northern Dynasty Minerals, no change in opinion therefore no new update. However, here’s a copy of a comment on it by me for an upcoming article in a mining publication:

Northern Dynasty Minerals (NAK-NYSE/Alnet, NDM-TSX) – Since acquiring the Pebble Project in 2001, Northern Dynasty has delineated and advanced one of the world’s greatest stores of mineral wealth.

Located on American soil in southwest Alaska, the Pebble deposit is remarkable for both its size and composition. Current estimates indicate a total resource of 5.1 billion tonnes measured and indicated and 4.0 billion tonnes inferred, containing 72 billion lb copper, 94 million oz gold and 4.8 billion lb molybdenum. Quantities of silver, palladium and rhenium also occur in the deposit.

In 2007, a wholly-owned affiliate of Northern Dynasty entered a 50:50 partnership with a wholly-owned subsidiary of Anglo American plc to permit, construct and operate a modern, long-life mine at Pebble. Based on Anglo American’s staged investment of $1.425 to $1.5 billion, both companies share equal ownership, board representation and rights in the Alaska-based Pebble Limited Partnership.

Under the leadership of the Pebble Partnership, the Pebble Project is on a path to development. Key project strengths include:

• a known mineral resource with the tonnes, grade, metallurgy and geometry to support a modern, long-life mine;
• favorable terrain — low elevation;
• a stable and predictable regulatory environment;
• ready human and financial resources; and,
• broad public support for responsible resource development in Alaska.

Theirs is a rather loud anti-pebble crowd that has clearly spooked some investors into believing the project will not be able to even make it to the formal permitting application stage and receive due process of law. While one can never say this crowd can’t win, I remain confident because so far government regulators haven’t shown to be anything but fair and I trust they will allow the process itself to determine whether Pebble can go forward into mine development.

End of update

Gold $4k to $11k

Or maybe $6,300?

Are the Bric’s about to come tumbling down?

Great technical videos    #1 #2 #3

At this point in time it appears more of the same political risk that has been present for some time. However, some may not be able to handle the financial and mental anguish that can come from the situation becoming far worse. Therefore I’m going to suggest to those who can’t afford the situation developing into something more than a bump in the road to consider selling and moving on. Because I don’t think this is a universal move at this time, the company will remain in the model portfolio but be a hold until further notice. Please note as I type I personally would likely be a buyer if this news in current form took this stock much below $2.50.

I spoke to Sunridge Gold management this evening. It was their view that if such a resolution actually was voted on,China and or Russia would veto it.China has been active in the country. They said their operations remain normal. Here too those who wish to be safe versus sorry can move aside. We shall address this further as more information becomes available.

I’ll be monitoring this closely and will post again when needed.

Today marks the birth of a new HD “child”, one of several new companies HD has in the pipeline to come public. Heatherdale Resources (HTR-TSX-V $1.01 )has a very promising project in Alaska. There’s great anticipation of significant news flows over the coming months.

Two very key notes of interest are:

• The discovery team that first led Farallon Resources from under a dollar to above $20 is at the helm at HTR.
• HD management has purchased about one-third of the recent IPO at a dollar (I also bought in).

There are 15 million free trading shares that were done at a dollar in the financing.  There are about 400,000 shares free trading left over from the company that was merged into HTR. IF history is any indication, speculators who use up to $1.15 (but not over) as an entry point should get several kicks at the can for the foreseeable future.

Please be advised HTR is a client of mine.

Please note! I wouldn’t pay over $1.15 until further notice!!!!

Maybe Lassonde could become a senior metals analyst?

Doesn’t Paulson know it’s not a bull market?

Hi-Yo Silver away?

I can’t even count this high

Didn’t he use to work there?

You are invited to the Founding Investment Conference of the

January, 27-29, 2010
Nassau, The Bahamas, Sheraton Cable Beach Hotel

The Pangea Discovery Club is an exciting new exclusive networking invitational investment club. Affiliated with Cambridge House International Inc., it has been formed to provide unparalleled sources of information for accredited investors – information to assist in maximizing opportunities in this commodity bull market.

The founding conference features the opportunity to network with like-minded investors and to listen to and intermingle with a terrific line-up of speakers – not for 30 minutes in a large auditorium but in smaller interactive settings, plus in casual relaxed afternoon poolside sessions. The line-up of speakers for the Founding Conference represents a wide variety of talents and experience. Interacting with them and with investment peers will make this a very memorable event. As a bonus, eight active companies have been selected to be sponsors of the event and attendees will be able to visit directly with them.

Speakers – a Great Line-up of Exceptional Talent

o   Michael Berry, Phd. – Morning Notes

o   Greg Weldon – Weldon Online

o   David and Eric Coffin – Hard Rock Analysts

o   John Kaiser – Kaiser’s Bottom Fishing Report

o   Bob Hoye – Institutional Advisors

o   David Skarica – Addicted to Profits

o   Tom MacNeill – 49 North Resources – The Saskatchewan Story

o   Mike Swanson – Wall Street Window

o   Peter Grandich – Grandich Publications

The Bahamas’ 2010 Founding Conference
Jan. 27-29, Sheraton Cable Beach Hotel, Nassau, Bahamas

Wed. Jan. 27
- Welcome Reception: 7:00 p.m. – 9:00 p.m.

Thursday Jan. 28
- Breakfast: 7:30 a.m.
- Interactive speaker presentations- 8:00 a.m. – 11:45 a.m.
- Lunch and Keynote speaker: 12:15 p.m. – 1:15 p.m.
- Poolside/Shady Area casual sessions with speakers:  2:30 p.m. – 4:30 p.m.
- Evening Reception: 6:00 p.m. – 7:00 p.m.
- Evening Dinner: 7:00 p.m.-

Friday Jan. 29
- Breakfast: 7:30 a.m.
- Interactive speaker presentations- 8:00 a.m. – 11:45 a.m.
- Lunch and Keynote speaker: 12:15 p.m. – 1:15 p.m.
- Conference closes

Overtime
- Poolside/Shady Area casual sessions with speakers and sponsors who do not have to leave
- Dinner is on your own but several restaurants will be suggested where attendees can carry on with their networking

Conference Fees
The fee to participate at the Pangea Discover Founding Conference includes:
- Welcoming Reception
- Breakfast, both days
- Lunch, both days
- Reception and Dinner on Jan. 28
Individual Fee – $995
Spousal Package, add $495

Hotel Rates
Hotel rooms are not included but the Sheraton Cable Beach is offering attendees a great rate of $179 per night.

Concierge Services will be available for those looking to book outside activities such as sightseeing, golfing, sailing and shopping.

For further information please contact:
Kieran Magee
Marketing Director, Cambridge House International
Kieran@cambridgehouse.com

Joe Martin
Chairman, Cambridge House International Inc.
Founding member, Pangea Discovery Club