Oil jumps to $ 120

Oil prices rose Thursday to $ 120 a barrel due to escalating fears of a severe shortage of supplies on the market in light of reduced exports from Libya, and the continuing turmoil in the region.

The price of European Brent crude today during the European trading more than eight dollars to reach $ 120 a barrel.

The price of Brent crude reached $ 110 yesterday, a new level in the range is the highest in two and a half year.

During Asian trading today, jumped U.S. light crude for more than three dollars to reach $ 102 a barrel.

The Western companies had suspended its work in Libya and withdrew its staff, while the rebels announced Libyan control over strategic oil installations, including facilities on the Mediterranean coast.

It is noteworthy that Libya - which has the largest oil reserves in Africa - were produced before the outbreak of the revolution of February 17 by 1.6 million barrels per day, only mostly to European countries such as Italy and Germany.

Fears
While prices have risen to levels of growing Western concern, expressed the U.S. bank Goldman Sachs on fears of a disruption to the largest supply of a wider unrest in the region.

However, Saudi sources confirmed that Saudi Arabia is willing and able to provide high-quality light crude to offset supply disruptions Jamahiriya, which means bridge the shortfall that drives prices to high levels.


The memorandum stated that the same price of a barrel of oil exceeded $ 120 would be a threat to global growth.

Silver Breaks $34 an ounce!!! Oil Super Spike!

Back in 2001, 10 years ago, I told people to buy silver when it was $5 an ounce. I said it would go over $20 that decade; also, in the next over $100 / oz. Debunkers said we are not going to use silver anymore. That is because we are leaving film and going to digital cameras. Then in 2008 it crash from 20 to 8 and they said "Oh see, silver was a bubble and you were wrong." I did now sell any. OK now they claim they always knew silver was going up. That said, they did not buy a single ounce.


Pre-1964 U.S. 90% silver coins, dimes, quarter, and half dollars are in the U.S., often referred to as Junk Silver. Good to hear that in Europe silver is being accepted as payment by some. It a good start. In some parts of Asia, silver is not regarded highly or as money. Gold is king there. No VAT in many countries on gold, including parts of Asia. Check around if you may need to travel light.
Gold is preferred here. I was astonished by the fine jewelry available in Turkey in December. I really prefer coins, rounds, and ingots, however. The jewelry I just sold here, I don't think I got a great price on. I think a solid chunk is easier to get a grip on. I just got a set of heavy silverware, all complete, for five euros. It is crazy. I see beautiful copper household objects here for sale, too, in my nabe, and wonder why there are no takers.

$400 Silver, Extreme Backwardation: James Turk on Goldseek Radio

James Turk & Chris Waltzek - February 23, 2011
$400 Silver, Extreme Backwardation: James Turk on Goldseek Radio

Eric Sprott : There is No More Silver! The Government Lied...

Speaking at the Casey Research Gold and Resource Summit, Eric Sprott told investors that there is no more silver left to go around, "There's $22 billion of silver available in the world, of which the ETFs already own half, and between you guys and us we probably own the other half... Which means there's nothing left."


Money or currency is something that can be exchanged for a good or service. You can do this with things like food and water, its just that some people prefer to do it with gold because of the properties that it has.

fungible

divisible

not based on debt

Doesn't go bad

Debt based currencies usually fail, thus gold is preferable to that. Gold is also preferable to water and food because it doesn't go bad and it you don't need large amounts to trade.

Eric Sprott : No silver left

No silver left to go around says Eric Sprott and the numbers prove it
Speaking at the Casey Research Gold and Resource Summit, Eric Sprott told investors that there is no more silver left to go around, "There's $22 billion of silver available in the world, of which the ETFs already own half, and between you guys and us we probably own the other half... Which means there's nothing left."

Donald Trump we are tired of being ripped off by China and OPEC 2/23/11

From The Desk Of Donald Trump 2/23/11

Donald Trump : we are tired of being ripped off by China we are tired of being ripped off by the OPEC , and by almost anybody that does business with us , we are tired of giving state dinners for head of countries that do nothing but take advantage "... ....
Donald Trump rates Obama as a CEO of a Company with a C , or may be lower than that he says ...we do not have the right leadership to have America back as a great country....

Higher Oil Prices Would Hamper Economy

Just as the U.S. and global economies are finally strengthening, they face a new danger: Rocketing oil prices. (Feb. 24)

Preparing for bond market risks with flexibility and diversification

Gary Madich, CIO, Global Fixed Income, Columbus, believes investors should prepare for this year's bond market risks with flexibility and diversification.

Gold & Silver: Cling to Commodities in a Crisis

Feb. 22 2011 | Gold & Silver : Cling to Commodities in a Crisis   Martin Hennecke, associate director at Tyche, expects a sovereign debt crisis in the U.S. and Europe, and consequently advises to hedge against such crises by investing in precious metals and energy. These safe bets give you freedom to take risks on other opportunities he explains to CNBC's Chloe Cho, Anna Edwards and Yousef Gamal El-Din.

Gold To Continue Long-Term Upward Trend

Gold To Continue Long-Term Upward Trend
Feb. 22 2011 | Kingsgate CEO Gavin Thomas is optimistic about the second half of the year despite posting a 65% fall in consolidated interim net profit. He shares his upbeat outlook, with Michael Yoshikami of YCMNET Advisors and CNBC's Martin Soong & Sri Jegarajah.

Inflation Protection Gold & Silver

Inflation Protection ~ Gold & Silver ~ Are you protected from hyper-inflation and stock market crashes... the wealthy balance their investments with commodities... have you followed their example yet?

The commodities markets, oil, gold and silver soaring in light of events in Liby

Commodities Tomorrow
Feb. 23 2011 | CNBC's Sharon Epperson discusses the day's activity in the commodities markets, including where oil, gold and silver are likely headed in light of events in Libya, Yemen and the rest of the Middle East.

$400 Silver, Extreme Backwardation: James Turk on Goldseek Radio

James Turk with Chris Waltzek - February 23, 2011

James Turk is founder of GoldMoney.com, which operates the leading digital gold currency. He also publishes the Freemarket Gold & Money Report, an investment newsletter he founded in 1987. Previously, after a decade with the international department of Chase Manhattan Bank, he managed the commodity department of the Abu Dhabi Investment Authority. His media appearances include GoldSeek.com, CNN, Bloomberg, CBSMarketWatch, CNBC, Barron’s, the Wall Street Journal, and Financial Sense Online.

Gold Price at a 7 week high

Feb. 23 2011 | Kelvin Tay, chief investment strategist, Singapore at UBS, says gold must breach a specific price point before other metals move significantly higher. He shares his thoughts, with Daryl Guppy, CEO of Guppytraders.com and CNBC's Karen Tso and Martin Soong.

Oil Prices Could Move to $150

Feb. 23 2011 | Aaron Smith, MD of Superfund Financial, says if oil moves above $102 a barrel, it could continue in a "massive" uptrend. He tells CNBC's Chloe Cho, Anna Edwards and Yousef Gamal El-Din that West Texas crude oil prices may hit $150 by year-end.

Middle East Driving the Forex Market

Feb. 24 2011 | As the Swiss franc hits a record high against the U.S. dollar, Lee Wai Tuck, currency markets strategist at Forecast, says the geopolitical crisis in the Middle-East will remain the focus of the currency market, regardless of forthcoming U.S. jobs and housing data. He speaks with CNBC's Chloe Cho, Anna Edwards and Yousef Gamal El-Din.

Currencies and the Oil Rise

Which Currencies Rise With Oil?

Feb. 24 2011 | "The oil price is going up because of risk… therefore analyze currencies via risk," David Bloom, global head of foreign exchange strategy at HSBC, said. This is why the Canadian dollar, among others, was not boosted by the recent spike in oil prices, he added.

Libya Revolution and Oil Addiction

February 23, 2011 CNN :
Our Total Dependence On Oil Is like Building A Home Next To A Volcano & Now The Volcano Is Rumbling



Our total dependence of the value of money, purely being based in the confidence for the return is like building the society like a casino. The bank always wins. Oil be one resource, better look at the root, the insane confidence in banks and interest based currency. It's like trusting there will always be calm waters when boating without life-west.

Is The Euro A Safe-Haven?

Feb. 23 2011 | The Fast Money traders discuss whether the Euro is a safe bet.

Oil may hit $100 on Libya contagion fear

Crude oil is not very comfortable for India at USD 96 West Texas Intermediate (WTI) and Brent having crossed USD 100 per barrel. Jonathan Barratt, the Managing Director of Commodity Broking Services, told CNBC-TV18 says the Libyan situation highlights the growing concerns surrounding West Asia.

Gold and Silver continuing their safe haven rally

NEW YORK (TheStreet) -- Daniel Wills, research analyst at ETF Securities, says that recent inflows into their gold and silver ETFs show a shift in investor sentiment.Investors Turn to Gold and Silver ETFs
silver prices continuing their safe haven rally on Wednesday. Because gold indexes and the spot price up more than eight dollars joining me -- Daniel wills research analyst for ETF securities. And Daniel we have gold -- up you know 5% in February silver up. 17%. For the month. Have these metal run too far too fast.

Silver price to new 30 years High

NEW YORK (TheStreet) -- Mihir Dange of Arbitrage reveals his new price targets for silver and how he's trading the metal.
Silver prices keep popping two new thirty year -- you might he's the top or booked some profits to any need for the trade at the nymex -- Don gab arbitrage. -- here's the settling at thirty around 33 on Tuesday after hitting intra day high of 34 33 big ranges here having run too far too fat.

$100 Oil : Top Energy Trades

Feb. 23 2011 | Where to place your energy bets, with Paul Sankey, Deutsche Bank.
$100 Oil : Top Energy Trades

Robert Kiyosaki 4 Types of People

Robert Kiyosaki 4 Types of People
4 DIFFERENT TYPES OF PEOPLE THAT EFFECT YOUR BUSINESS AND YOUR WALLET

Silver Price Up, Food Shortages Developing, Food Prices Rising Oil Spikes Higher

Silver prices at $33.65, Gold price higher. Food shortages are developing around the world. Food prices are trending higher as poor weather and hoarding are are creating shortages. Silver bullion still in short supply.

Oill prices are spiking higher which will cause higher input costs for farmers which will translate into higher food prices. Oil spike would kill any hope of economic recovery. Economic collpase is more likely.

Earthquake in Chrictchurch, hurricane in Australia, unrest in the middle east. Libyan unrest, world in crisis. Prepare for worst hope for best. Prepper.

Is there gold in Fort Knox ? Maloney & Morgan In Las Vegas

Is there gold in Fort Knox, and if so...WHO OWNS IT? Mike Maloney and David Morgan In Las Vegas

OPEC, Oil & the Middle East Crisis

Feb. 22 2011 | Discussing the impact of Middle East tensions, Andre Julian, CFO & senior market strategist at OpVest Wealth Management, says fear of supply shortage is driving up the price of oil. He speaks to CNBC's Oriel Morrison and Sri Jegarajah.

World oil prices soar amid Libya chaos

Oil prices have risen to their highest level for two years as Libya's Colonel Gaddafi defies a widespread uprising.

James Turk, : A new currency and revaluing gold reserves

Uploaded by GoldMoneyNews on February 21, 2011
Chris Powell, Secretary/Treasurer of http://gata.org, is asked by James Turk, Director of The GoldMoney Foundation and Founder of GoldMoney if we're heading towards a monetary train wreck. Chris expects the central banks to mobilize gold back into the monetary system. This would perhaps mean a new currency arrangement and a revaluation of the gold reserves. View the full 34-minutes interview at: http://www.goldmoney.com/powell-turk

Saudi Oil Minister: We Will Protect Supply

Feb. 22 2011 | “The market knows that Saudi has a good chunky excess capacity and a record of using it when needed,” said Prince Abdulaziz bin Salman Al Saud, Saudi Arabia's deputy oil minister, to CNBC.

Commodities Bear Market Ahead?

Feb. 22 2011 | Perspective on where commodities are headed, particularly in light of the violence in the Middle East, with Dennis Gartman, editor, The Gartman Letter.

Gold and Silver trade as the metals continue to rally

NEW YORK (TheStreet) -- Phil Streible, senior market strategist at Lind-Waldock, reveals how he would be trading gold and silver as the metals continue to rally.




Gold prices breaking 14100 silver at thirty year highs. Doing these bills -- senior market that is at and while not now let's -- up with silver here spot price of about fifteen so right down 59 cents but -- after a rally at 3433. On Monday. Big move in the last week aren't trading right now.
Phil Streible,  :....You don't look -- have really taken profits up at these levels here and that's something you rarely hear me say. I think prices that moved a little bit too far too fast. On other people disagree with me but I'm looking at somebody outside markets -- BS and 500 down significantly. All the rating market's getting hit some of the other metals like copper platinum palladium or -- look on -- a significant amount of pressure and it beat that this could be a soda for some kind of reversal. On on the silver market which could have some blacks are specially with some guys that -- to -- getting in. Running out of cash generating margin calls and I think silver prices -- a little bit weaker.

Real Estate Bubble Part Two?

Feb. 22 2011 | Insight on whether real estate is on the mend or if there is another bubble in the works, with Scott Rechler, RXR Realty chairman/CEO.

Oil Prices Surge As Libya Protests Mount

Oil prices soared to the highest level in more than two years as violence spread in Libya and Moammar Gadhafi's grip weakened over the country. (Feb. 22)

Spiking Oil Prices

Feb. 22 2011 | Oil higher as unrest continues, with Vince Farrell, Soleil Securities, and Michael Farr, Farr, Miller & Washington.

Gold: Still Safe Haven?

Feb. 22 2011 | Discussing whether gold is still a safe haven despite Libya tensions, with Jim Steel, HBSC Chief Commodities Analyst.

Silver Manipulation Fails - prices expected to spike

MANIPULATION FAILS, METALS SPIKE & CEO's SPECIAL SILVER OFFER : It's all happening right now... Make sure you are protected with food, water, self defense & physical metals.Its a shame that silver is now hovering just above $33 an ounce.I think it's too low. Last night I seen silver reach $34.56 and thought it was goint to break the $35 mark. The lower it gets the more I will be able to buy. Keep stackin America, Destroy the Banksters, their strangle hold is coming to an end they know it & we know it. Spread the Word, The Ponzi scheme is over !!!!

Asia is driving the demand for gold

In 2011 China's investment in gold could rise by 40-50 per cent

The gold market is increasingly being dominated by China. Beijing, which in 2007 surpassed South Africa as the world leader in gold mining production in the last ten years has almost tripled the demand for gold to around 600 tonnes in 2010 a record year also globally, with a total demand that peaked decades of 3812.2 tons (+9%), driven by the jewelry, in recovery of 17% to 2,059.6 tons.
The statistics of the World Gold Council (WGC), published recently in Gold Demand Trends report, show that China's demand has become very explosive especially in investment, in other countries after the boom of 2009 there was a setback (the overall figure shows a decrease of 2% to 1,333.1 tons, a decrease by as much as 45% for ETFs), while the People's Republic of fear of inflation combined with the lack of alternative investment has produced a real own gold rush. The Chinese have bought 179.9 tons. bars, ingots and coins, 70% more than in 2009, surpassing the United States and Germany. In 2011 China's investment in gold could rise another 40-50 per cent.

China, nevertheless, is still far from being able to oust India from the podium of the first consumer of the yellow metal. The impressive recovery in demand in New Delhi makes this objective even harder for China : +66% in 2010 to 963.1 tons, almost everything related to jewelry.

The gold in 2010 reached a record $ 1,432.50 per ounce in December. After starting the year down in recent days - especially supported by the unrest in the Middle East - is above $ 1,380 / oz. "It seems that consumers, especially the larger ones, namely India and China, have become accustomed to higher prices . The high prices seem to even have provided an extra motivation to buy gold, described as an investment asset quality. "

Currency Call in light of Middle Eastern Crisis

Feb. 21 2011 | How currencies are likely to react in light of Middle Eastern events. The market currently appears to be ambivalent, but that could change and money may begin flowing into European currencies, says Boris Schlossberg, GFT Forex. He adds that higher gasoline prices could seriously damage the U.S. recovery

Dollar Outlook - CNBC Feb. 21 2011

Feb. 21 2011 | The rally in U.S. bonds won't be enough to protect other currencies from weakening against the dollar, says Richard Yetsenga, global head of emerging market FX strategy at HSBC. He shares his outlook with, Adrian Mowat of JP Morgan and CNBC's Karen Tso & Martin Soong.

Oil Super Spike! Silver Breaks $34 an ounce!!!

Gold is going CRAZY right now! I saw it go up 60 bucks in the last 5 days.. silver up 4 bucks in the same time We aren't breaking even with the rest of the world yet. Silver overseas is trading at over $45. When we hit that, then we can start seeing the real rises in price.US will never ever (or afford to) pay back the loans from China, Japan, Saudi, Korea, Taiwan..... Someone works out it will take 40 + years 40 + years....if the US decides to pay back 1 billion dollars a day. Yep, most of us would be gone by then.

Oil is going to be at the center of our problems. Middle East instability is heating up. Never mind peak oil just the instability alone will cause oil production slow. Saudi Arabia is firing on its own people this will only escalate things. The whole region is on fire right now. Oil, Metals, all commodities are going nuts. Treasuries are sun setting making me feel something big is coming soon.

Max Keiser takes on Jon Nadler of KITCO

Max Keiser takes on Jon Nadler of KITCO



Nov 2006: Jon Nadler predicted gold average to be $800 per ounce for 2010. The 2010 high was $1,423 & the low was $1,061.

Oct 2008: Nadler predicted gold to be in the low $500 an ounce range in 2010 LOL.

Dec 2008: Nadler predicted 2009 price of gold average would be $810 per ounce. Wrong again. 2009 average was $972.

May 2010: With gold at $1200, Nadler predicted 2010 price would end "between $680 and $880." LMAO!

Jon Nadler : Nadlerisms : An analysis of the Kitco Spokesman : What has he said, and was he right?

David Morgan - Silver Investor - Escape The Matrix

David Morgan - Editor, Silver-Investor.com - Escape The Matrix

Oil Flows & the Middle East Crisis

Feb. 21 2011 | CNBC's Melissa Francis talks about the threat to oil production presented by the protests and violence in the Middle East, and particularly Libya, which provides about 1.1 million barrels/day.

BP CEO Bob Dudley on Libya

Feb. 21 2011 | BP CEO Bob Dudley discusses his company's recent deal with India's Reliance and how the company is coping with what's happening in Northern Africa and in Libya in particular  and the Middle East, with CNBC's Rebecca Meehan.

Commodities and the Middle East Unrest

Feb. 21 2011 | John Kilduff, Again Capital, and Sean Corrigan, Diapason Commodities, discuss the situation with oil, natural gas and gold in light of violence in the Middle East.

GoldQuest Mining Corp. - TSX.V: GQC - Face the Analyst

GoldQuest Mining Corp. is focused on cost-effective exploration in Spain and the Dominican Republic. GoldQuest aims to fast-track exploration projects to a decision stage while rapidly discontinuing those projects that fall outside the company's criteria. GoldQuest puts priority on putting experienced explorationists in the field to rapidly determine the economic potential of a prospect at an early stage.

Silver Price $33.95, Death and Mayhem in Libya, Crop Failures, Middle East on Fire!

Silver price hits just under $34.00 so far today. Gold is at $1407. Protests in Libya and across the middle east are ending in murder of the protesters. China suppresses its own Jasmine Protests over the weeend. Precious metals are shooting up over the volatility. Silver bullion in demand. Oil prices up on violence. Late breaking news has Libyan Jets firing on protesters.

Crop failures across the world threaten to send food prices higher further fueling the food riots. A rise in food and oil prices threaten any fantasy of an economic recovery and may end in an economic collapse. Inflation being created by the Fed is fueling the fires. Hyperinflation and dollar collapse remain a threat. Prepare now. Preppers.

Donald trump interview NewsMax 21 feb 2011

Are you planning to run for president in 2012 ?
Donald Trump :"...well I a thinking about it , I am looking at what's happening in this country and frankly it's very sad , I see what's happening left and right how we are being abused by other nations and I do not like it , I do not like what's happening with the jobs I am seriously thinking about it ..."

Gold breaks the barrier of $ 1400 Amid fears of protests in the Middle East

Amid fears of protests and access to oil installations in Libya
Gold tends to penetrate the barrier of $ 1400 because of unrest in the region
Gold prices continued to rise , and reached its highest level in seven weeks on Monday with the continuation of protests in the Middle East, which has increased the demand for the metal as a safe haven, while silver and platinum rose to historical high levels in light of expectations of growth in industrial demand.

Continued gold gains after surging nearly three percent in the last week, is expected to continue to rise with new reports from North Africa and the Middle East, the United States market closed on Monday because of the holiday.

higher gold prices are also due to real concerns about the supply of oil in Libya or subjected its oil facilities to disrupt or stop because of the protests, oil prices could move to record highs because of the deteriorating situation in Libya, which worried also the metals markets. "
Analysts point out that the entry of world's central banks has become the largest buyers of gold to boost their reserves of precious metals, The data of the World Gold Council released on the seventeenth of February has revealed that the growth of gold demand in the Middle East increased by 39% during the fourth quarter of last year.