By Robert Fitzwilson of The Portola Group

August 11 (King World News) - “Ground Hog Day”

Ground Hog Day is a movie that starred Bill Murray.  In the movie, he played a television reporter who was assigned to cover the annual Ground Hog Day festivities in Pennsylvania.  The setting for the film was the town of Punxsatawny, the city most associated with the tradition.  Punxsatawny Phil, the name of the ground hog, is the object of the festival. 

Tradition says that if Phil emerges from his burrow, sees his shadow and returns to his home, he is predicting another six more weeks of winter weather.  We should probably sympathize with Bill Murray’s character.  It probably was not the highlight of his career.

Arriving in Punxsatawny, Murray finds himself trapped in a time warp where no matter what happens during the day, it is all reversed when his alarm clock goes off in the morning.  Investors in gold and silver can commiserate.  It seems as if we are trapped in a similar time warp...

Continue reading the Robert Fitzwilson piece below...  


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“As markets open up around the world, and if prices initially rise, the strength is reversed or at least capped once New York opens.  This happens day after day.  We have been experiencing our own version of Ground Hog Day.

All eyes have been focused on gold and silver, but the chart below shows that other precious metals have been emerging from the time warp.  The top line is palladium, the next one down is platinum, and the last two are gold and silver, respectively.

Gold and silver are battling tight trading ranges and waging a war to break through technical resistance levels, but these other two precious metals have already broken through key moving averages.  The labor and political uncertainties on the African continent have certainly played a role, but gold and silver mining companies have also had to navigate similar challenges.

We should assume that anything can happen.  On a “planning-to-power continuum”, the truly frightening scenario is that the central planners conclude there is no traditional, viable solution to our financial and fiscal woes.  That leaves only power as an option.  Power with no plan is an ugly combination.

There are no shortages of uncertainty as we head into the most important part of 2013.  There are so many long-term structural issues coming to a head that it is easy to become frozen into inaction.  That is a mistake.  Much of what lies ahead is beyond our control or even ability to divine outcomes.  What we can do is keep an open mind to all forms of investments. 

What the chart above shows is that investors could have done well in other precious metals.  In the fabulous interview with Gerald Celente on KWN, he outlined a cornucopia of ideas outside of the energy, precious metals and mining sectors that we have covered in our writings.  

What he suggested are very powerful long-term trends in which investors will find many opportunities.  Energy, gold, silver and mining companies continue to represent tremendous value, but we should not become indecisive or trapped in an investing Ground Hog Day.  Instead, we should complement our portfolios with other forms of compelling value.”

IMPORTANT - This weekend also included a powerful KWN audio interview with Dr. Paul Craig Roberts and you can listen to it by CLICKING HERE.

© 2013 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.

The audio interviews with Dr. Paul Craig Roberts, Gerald Celente, James Turk, Hugo Salinas Price, Chris Powell, Bill Fleckenstein, Eric Sprott, Egon von Greyerz, David Stockman, Art Cashin and Marc Faber are available now. Also, other outstanding recent KWN interviews include Jim Grant and Felix Zulauf to listen CLICKING HERE.

Eric King

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© 2013 by King World News®. All Rights Reserved. This material may not be published, broadcast,

rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.

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