Gold Silver Mashup: October 2011

Monday, October 31, 2011

06/08 Turd Ferguson ~ TMRN -2011-10-28 Time Monk Radio Interviews Present:

http://www.youtube.com/v/ABZ0eCiRTww?version=3&f=user_uploads&app=youtube_gdata

http://www.mediafire.com/?rcjmkz6ba1y14ew

2011 10-28
Time Monk Radio Network Interviews Presents:
Turd Ferguson on TMRN Radio

People and Monetary Change ~ Charts & Technical readings on Precious Metals ~
The Future and Precious Metals

http://www.tfmetalsreport.com/
http://urbansurvival.com/
http://halfpasthuman.com/
http://webbotforum.com/

See the original video here:

06/08 Turd Ferguson ~ TMRN

05/08 Turd Ferguson ~ TMRN -2011-10-28 Time Monk Radio Interviews Present:

http://www.youtube.com/v/aZzkfh7GdwU?version=3&f=user_uploads&app=youtube_gdata

http://www.mediafire.com/?rcjmkz6ba1y14ew

2011 10-28
Time Monk Radio Network Interviews Presents:
Turd Ferguson on TMRN Radio

People and Monetary Change ~ Charts & Technical readings on Precious Metals ~
The Future and Precious Metals

http://www.tfmetalsreport.com/
http://urbansurvival.com/
http://halfpasthuman.com/
http://webbotforum.com/

See the original video here:

05/08 Turd Ferguson ~ TMRN

04/08 Turd Ferguson ~ TMRN -2011-10-28 Time Monk Radio Interviews Present:

http://www.youtube.com/v/ryvTB5_AxWw?version=3&f=user_uploads&app=youtube_gdata

http://www.mediafire.com/?rcjmkz6ba1y14ew

2011 10-28
Time Monk Radio Network Interviews Presents:
Turd Ferguson on TMRN Radio

People and Monetary Change ~ Charts & Technical readings on Precious Metals ~
The Future and Precious Metals

http://www.tfmetalsreport.com/
http://urbansurvival.com/
http://halfpasthuman.com/
http://webbotforum.com/

See the original video here:

04/08 Turd Ferguson ~ TMRN

03/08 Turd Ferguson ~ TMRN -2011-10-28 Time Monk Radio Interviews Present:

http://www.youtube.com/v/7fznmmzst7A?version=3&f=user_uploads&app=youtube_gdata

http://www.mediafire.com/?rcjmkz6ba1y14ew

2011 10-28
Time Monk Radio Network Interviews Presents:
Turd Ferguson on TMRN Radio

People and Monetary Change ~ Charts & Technical readings on Precious Metals ~
The Future and Precious Metals

http://www.tfmetalsreport.com/
http://urbansurvival.com/
http://halfpasthuman.com/
http://webbotforum.com/

See the original video here:

03/08 Turd Ferguson ~ TMRN

02/08 Turd Ferguson ~ TMRN -2011-10-28 Time Monk Radio Interviews Present:

http://www.youtube.com/v/7mWKwRWby64?version=3&f=user_uploads&app=youtube_gdata

http://www.mediafire.com/?rcjmkz6ba1y14ew

2011 10-28
Time Monk Radio Network Interviews Presents:
Turd Ferguson on TMRN Radio

People and Monetary Change ~ Charts & Technical readings on Precious Metals ~
The Future and Precious Metals

http://www.tfmetalsreport.com/
http://urbansurvival.com/
http://halfpasthuman.com/
http://webbotforum.com/

See the original video here:

02/08 Turd Ferguson ~ TMRN

01/08 Turd Ferguson ~ TMRN -2011-10-28 Time Monk Radio Interviews Present:

http://www.youtube.com/v/TLwo8IXSKNc?version=3&f=user_uploads&app=youtube_gdata

http://www.mediafire.com/?rcjmkz6ba1y14ew

2011 10-28
Time Monk Radio Network Interviews Presents:
Turd Ferguson on TMRN Radio

People and Monetary Change ~ Charts & Technical readings on Precious Metals ~
The Future and Precious Metals

http://www.tfmetalsreport.com/
http://urbansurvival.com/
http://halfpasthuman.com/
http://webbotforum.com/

See the original video here:

01/08 Turd Ferguson ~ TMRN

Panic Behind The MF Scenes As Company Refuses To Disclose Information To Regulators Even In Death

As in life, so in death. Reuters reports that "U.S. regulators are unhappy with the failure of MF Global Holdings Ltd to provide them with the required data and records, a source close to one regulator told Reuters on Monday. "So far they've been very disappointed with the cooperation in the fulsomeness of records and data from MF," the source said, noting regulators have been working with the firm since late last week. "They were supposed to be able to show us their books and they're

Someone Is Going To Jail For This: MF Global Caught Stealing Hundreds Of Millions From Customers?

Say you are the head back office guy at MF Global, it is the close of trading on Thursday, the firm has already completely drawn down on its revolver, and all the resulting cash in addition to all the firm's cash at your disposal in affiliated bank accounts, up to and including petty cash, has been used to satisfy margin demands due to declining collateral value, yet the collateral calls just won't stop, and impatient voices on the other side of the phone line demand you transfer even more

China Manufacturing PMI Drops To 32 Month Low

China Manufacturing PMI prints at 50.4, down from 51.2, when consensus was expecting an increase to 51.8. This is the lowest print in 32 months, and the lowest since February 2009. But wait, before concluding that this is very bad news, uh, ahem... well, sorry, we haven't taken the CNBC spin school yet. It's bad news and the hard landing is coming. We leave the spin to the professionals. Oh wait, yes, China will go ahead and ease immediately if not sooner. Because the PBoC has surely

No More Golf or Pizza for the Yakuza

By Wolf Richter www.testosteronepit.com
Tokyo's organized crime exclusionary laws went into effect in October—and they're already creating havoc. The laws criminalize doing business with boryokudan ("violent group" or colloquially yakuza). In an ingenious twist, paying off the yakuza in an extortion racket is also a crime. Now restaurants have to stop paying protection money. Even victims of blackmail—hush money is an outright industry in Japan—commit a crime if they pay.
First,

This Year’s ‘Lehman Moment’ Might Occur Soon

This originally appeared in the Daily Capitalist and was written by DoctoRx who writes our market commentary. He has 30 years of investment experience.

The strangely-named MF Global is now the subject of the lead article of the online NYT, with the title Regulators Investigating MF Global for Missing Money. Here’s the lede:

Federal regulators have discovered that hundreds of millions of dollars in customer money has gone missing from MF Global in recent days, prompting an

If It Hurts My Foot, It's Good: Dennis Gartman

http://www.youtube.com/v/8uYXq6wUFcw?version=3&f=user_uploads&app=youtube_gdata

Dennis Gartman of "The Gartman Letter" discusses gold with Kitco News from the 2011 New Orleans Investment Conference. Oct. 28, 2011.

See the original video here:

If It Hurts My Foot, It's Good: Dennis

David Tice of PrudentBear: "I See Gold Hitting $2,500"

http://www.youtube.com/v/GT6ibZs7cEE?version=3&f=user_uploads&app=youtube_gdata

Renowned investor David Tice, founder of the PrudentBear Fund and CNBC frequent, caught up with Daniela Cambone of Kitco News at the 2011 New Orleans Investment Conference to discuss his projections for gold and why he's bullish-- despite being the classic bear.

See the original video here:

David Tice of PrudentBear: "I See Gold Hitting

Monday Oct 31st Update

http://www.youtube.com/v/cxwgJN_xzE4?version=3&f=user_uploads&app=youtube_gdata

Halloween silver and gold yentervention update!

See the original video here:

Monday Oct 31st

Retail Trader Positioning 31st October – USDJPY Intervention!

On Oct 27th we talked of the yen being in a major technical "squeeze" and that a break out was likely to result as a result of 3 potential reasons. Reason #3 was the winner!
3. BOJ Intervention could result in strong weakening of the Yen.
We ended last week with 88%+ of USDJPY traders long and wrong for many months now. Today Japan sold the yen for the second time in less than three months after it hit another all time high against the dollar last week. As usual...retail traders are

European Implosion Resumes With Italy Firmly In The Vigilantes' Sights

The duration of the European bailout was 48 hours give or take. And now reality is back in the form of the following headlines:

Italian 10 Year BTP Yield surges to all time high 6.153% before ECB intervention takes it back to ... 6.122%
Expressed in price, they have dropped to a record 90.697
Italian-German 10 year yield passes 400 bps
Italy CDS soar 22 bps to 427 bps
Italy 5 Year yields bonds join drop, yield rises to over record 5.91%

See a trend? The one thing Europe was trying to

EU Deal and Hell Freezing Over

From Peter Tchir of TF Market Advisors
EU Deal and Hell Freezing Over
So the EU finally reached a debt deal and hell (or at least New York City) froze over.
Thursday's meteoric rise was followed by a relatively calm Friday but is losing steam as more and more nagging doubts set in.
Italian and Spanish bond yields have failed to participate in the rally and in fact Italian yields are reaching yields not seen in decades.
The EFSF has morphed into an incredibly complex entity and there is

MF Global Shares Halted For News

Is this the way MG Global ends, not with a bang, but a T.1 trading halt (although not in Europe, where shares are down 60%)? Stay tuned as we find out if, as we expect, we are about to see a prepack MF bankruptcy, with Interactive Brokers as a lowball stalking horse bidder, ala what Barclays was to Lehman when that bank filed. We will also find out if indeed all the contagion risk from a MF filing is non-existant, very much like Paulson thought when, yes, Lehman filed. In other news, can

Daily US Opening News And Market Re-Cap: October 31

Submitted by RanSquawk:

Japan intervened in the FX market overnight, which resulted in the weakening of JPY across the board. Japan’s vice finance minister said he believes the intervention is not over yet
Particular widening was observed in the Italian/German 10-year government bond yield spread as concerns persisted over the debt and political situation in Italy. There was market talk of the ECB buying in the Italian government debt
Strength in the USD-Index weighed upon EUR/USD,

New York Fed Statement On MF Global, Or How 22 Primary Dealers Became 21 Primary Dealers

Statement Regarding MF Global Inc.
The Federal Reserve Bank of New York has informed MF Global Inc. that it has been suspended from conducting new business with the New York Fed. This suspension will continue until MF Global establishes, to the satisfaction of the New York Fed, that MF Global is fully capable of discharging the responsibilities set out in the New York Fed’s policy, “Administration of Relationships with Primary Dealers,” or until the New York Fed decides to

Frontrunning: October 31

Azumi Pledges More Action After Yen Intervention (Bloomberg)
Japan to buy more EFSF bonds-Europe fund chief (Reuters)
Draghi in Battle Mode From Day One at ECB (Bloomberg)
Berlusconi Stays Defiant as Europe’s Crisis Focuses on Italy Reform Effort (Bloomberg)
Hu starts key trip to Europe (China Daily)
Europe will not offer China concessions for aid: Juncker (Reuters)
Europe Might Have Blown Last Chance to End Its Crisis (Bloomberg)
Schäuble calls for EU lead on Tobin tax (FT)
UK faces

Sunday, October 30, 2011

Unbelievable, Must-See Video: Heroic Navy Sailor Stands Tall In the Middle of Oakland Tear Gas Firestorm ... Holding Up the Cons

Here he is a couple of minutes before, standing with marine veteran Scott Olsen before Olsen was hit in the head and nearly killed by a projectile:
In fact, retired members from every branch of the military support the protesters.
And even active service members are starting to come out to support them.
Note: By comparing the video above with prior videos of Scott Olsen's shooting, I believe that video experts should be able to confirm the identity of the shooter and the guy who threw the

EURUSD Breaches 1.4000 Support

And with that we can put the highly semantic debate over which direction the European currency opened pre-market to rest. To all who were caught wrong way for the past 160 pips, better luck during the next centrally planned intervention. The next catalyst will be BTPs opening for trading in a few brief hours. We are very curious whether the ECB will more focused on preserving the Italian stability falacy or the EURUSD overvaluation myth: perhaps both? After all, "there is a (completely

As CNYJPY Jumps To QE2 Levels, What Odds Are Markets Implying Of A China Hard Landing?

With tonight's multi-year record CNY fixing and trillions being flushed at maintaining an arbitrary line in the sand, it seems appropriate to re-consider how to hedge a China hard landing and what probabilities various asset classes are assigning to it occurring. While many are pointing to what seems an entirely capricious level of 79.20 JPY to the USD as the 'new normal' being defended, we were curious at the strange coincidence that the CNYJPY cross implied by tonight's CNY fixing and

Q3 GDP Is A Head Fake

This article originally appeared on the Daily Capitalist.
The news on the latest GDP report said "recession fears recede." Now, a few days later, it's "red flags." So which is it?
I think it is still "red flags." But then we have most of mainstream economists/analysts who disagree with us. The difference is that they have been mostly wrong and we have been mostly right.
There are several things to understand about gross domestic product before analyzing the numbers:
1. Spending Isn't

Full Barroso, Van Rompuy Letter Begging For G-20 Money

With the question of who will fund the majority of the EFSF, or the €560 billion of the €1 trillion, still outstanding, and with China no longer the slam dunk "dumb money" everyone had expected it to be, Europe turns to the next biggest beneficiary of maintaining the ponzi - the entire G20 itself. Below is the letter just sent out from the two Eurostooges in which they make it all too clear that money talks, or Europe walks. "We will implement these measures rigorously and in a timely

"When Money Dies" Author Adam Fergusson And James Turk Discuss (Hyper)Inflation In The Past, In The Present And In The Future

When it comes to discussing monetary history, and specifically what happens when it all goes horribly wrong, there are two must read tomes: one is "The Dying of Money" by Jens Parsson (pdf link) and the other one is "When Money Dies" (pdf link) by Adam Fergusson. Today, we are lucky to bring to you a must watch interview between James Turk of the GoldMoney Foundation and the author of the former, Adam Fergusson. They discuss the fateful decisions that led to hyperinflation in post-First

Stock World Weekly: Europhoria

Stock World Weekly: Europhoria

Excerpt from Europhoria, the week ahead section:

The markets enjoyed this week’s eurozone announcement, with its expansion of the EFSF, the 50% “haircut” for Greek bondholders, and the recapitalization of European banks. But the Europhoria was not universal, and many remain skeptical. For a well-done glimpse into the inner-workings of the eurozone’s latest plan, watch this Xtranormal cartoon. Zero Hedge’s take: “While it is not the bears

Steven J. Baum | Foreclosure Mill Fraud Busted by Susan Chana Lask-MERS and Mortgage Fraud Detailed (VIDEO)

Steven J. Baum | Foreclosure Mill Fraud Busted by Susan Chana Lask-MERS and Mortgage Fraud Detailed (VIDEO)
Posted by 4closureFraud

The above video was released a little over a year ago but has become very relevant again in the last 48 hours...

Foreclosure Mill Fraud Busted by Attorney Susan Chana Lask, who exposes the bank attorney fraudulent filings. Lask's video takes a complicated issue and simplifies it with actual mortgage filings as examples and easy to

MF Global Hires Two Bankruptcy Legal Advisors As Chapter 11 Looms

The deadline to submit a bankruptcy filing to the Southern District of New York is around midnight, which probably explains why even as MF Global is proceeding at a feverish pace to sell parts or all of it to what appear increasingly skittish investors (who, like China will likely wait until the stalking horse auction to show their bids), it has, as the WSJ has just reported, hired bankruptcy and restructuring lawyers in the face of Weil Gotshal, best known for collecting hundreds of

GIABO 4 - A foreclosure mill mocks the homeless

http://www.youtube.com/v/F-tKSskGNPk?version=3&f=user_uploads&app=youtube_gdata

https://twitter.com/#!/stacyherbert and https://twitter.com/#!/maxkeiser
Max Keiser and Stacy Herbert with GIABO communique number 4. We talk about Steven J. Baum foreclosure mill's Halloween party mocking the homeless. Stacy tries to get people to follow her on twitter rather than Max . . . :D

See the original video here:

GIABO 4 - A foreclosure mill mocks the

Is inflation the only way out for central banks?

http://www.youtube.com/v/QUmRy7n8pTo?version=3&f=user_uploads&app=youtube_gdata

Watch the full 35-minute interview at http://www.goldmoney.com/fergusson-turk-interview. Historian Adam Fergusson discusses his cult-classic history of the Weimar hyperinflation, When Money Dies, with James Turk from the GoldMoney Foundation. In this video, they discuss whether or not, absent inflation, countries today will be able to navigate their way out of their debt problems. The full 35-minute

The social consequences of hyperinflation

http://www.youtube.com/v/Axpu9HpvKsg?version=3&f=user_uploads&app=youtube_gdata

Watch the full 35-minute interview at http://www.goldmoney.com/fergusson-turk-interview. Historian Adam Fergusson discusses his cult-classic history of the Weimar hyperinflation, When Money Dies, with James Turk from the GoldMoney Foundation. In this video, James and Adam discuss the social consequences of hyperinflation, and the horrendous effects currency collapse had on Weimar Germany. The full

Gold and hyperinflation

http://www.youtube.com/v/iE-OS3bmhIU?version=3&f=user_uploads&app=youtube_gdata

Watch the full 35-minute interview at http://www.goldmoney.com/fergusson-turk-interview. Historian Adam Fergusson discusses his cult-classic history of the Weimar hyperinflation, When Money Dies, with James Turk from the GoldMoney Foundation. In this video they discuss how speculators, debtors and industrialists were, for a time, "winners" during the German hyperinflation. James and Adam also discuss how

What brought the Weimar hyperinflation to an end?

http://www.youtube.com/v/BD0hTsKNEso?version=3&f=user_uploads&app=youtube_gdata

Watch the full 35-minute interview at http://www.goldmoney.com/fergusson-turk-interview. Historian Adam Fergusson discusses his cult-classic history of the Weimar hyperinflation, When Money Dies, with James Turk from the GoldMoney Foundation. In this video, Adam discusses the factors that brought the Weimar hyperinflation to an end. The full 35-minute video was first aired at Casey Research's When Money

Weimar Germany and the lessons of history

http://www.youtube.com/v/zNt9i4t9OBs?version=3&f=user_uploads&app=youtube_gdata

Watch the full 35-minute interview at http://www.goldmoney.com/fergusson-turk-interview. Historian Adam Fergusson discusses his cult-classic history of the Weimar hyperinflation, When Money Dies, with James Turk from the GoldMoney Foundation. In this video, they discuss the lessons that can be learned from the Weimar hyperinflation, and how -- to quote Lenin -- debauching a nation's currency is a sure

GIABO 4 - A foreclosure mills mocks the homeless

http://www.youtube.com/v/F-tKSskGNPk?version=3&f=user_uploads&app=youtube_gdata

https://twitter.com/#!/stacyherbert and https://twitter.com/#!/maxkeiser
Max Keiser and Stacy Herbert with GIABO communique number 4. We talk about Steven J. Baum foreclosure mill's Halloween party mocking the homeless. Stacy tries to get people to follow her on twitter rather than Max . . . :D

See the original video here:

GIABO 4 - A foreclosure mills mocks the

Food for thought

The folks at the USDA released their projections for 2011/2012-food price inflation. The bad news is that feeding ourselves will cost ~4% more in 2011. The good news is that USDA thinks prices will rise only ~2.5% next year.

I shop (I hate it). My food inflation is closer to 10%. It depends on what you eat. For example, from the report:

Meats, poultry and fish +6%

Seafood +6.5%

Beef +9%

Fresh vegetables +5%

Cooking oils +7.5%

These items are all well above the average set by

2018: Europe At War

By Dominic Sandbrook of Mail Online
Europe at war 2018
German troops storm Greece. Putin's tanks crush Latvia. France humbles the British Army. Unlikely, yes, but as Angela Merkel says euro meltdown could endanger peace, a historian's imagination runs riot...
The date is October 29, 2018, and Britain faces its darkest hour. On the battlefields of Europe, our Armed Forces have been humiliated.
In makeshift prison camps on the continent, thousands of our young men and women sit forlornly,

Saturday, October 29, 2011

The US Paper Dump Continues: Norway's Sovereign Wealth Fund Sells All Of Its US MBS Exposure

Two days ago we noted that foreigners are selling US paper at a record pace, whether to raise capital in a locked out liquidity environment like French banks, or to make a politicial statement, like China. Today we get the first confirmation to this from Norway's Sovereign Wealth fund, best known for its prediction that it would buy and hold Greek bonds in perpetuity back in September 2010. Just recall: "Norway has taken the view that will not . The Greek holdings are particularly

"We Are All Greeks" - SocGen Presents The New World Order

"We are all Greeks" - so begins one of the best reports on the unsustainability of the status quo, and on what "the new world order" will look like, created by SocGen's Veronique Riches-Flores. Her overarching observation: "No one can claim immunity from a Greek-style spiral" because "Our economies are mature, with weak potential GDP, especially post the financial crisis" and due to that old standby which everyone chooses so conveniently to forget, yet which is the biggest threat to the

Things That Make You Go Hmmm.... Such As An Empty Box Filled With Promises Of Money, And Europe's Soup Nazi

Some amusing weekend observations from TTMYGH's Grant Williams: "The EFSF is basically an empty box filled with promises of money - many of them from the very people who are most likely to need to borrow that same money. Should they need to borrow the money, they won’t be able to make good on their promises so there will be less money for them to borrow. Now the brain trust running Europe have decided, in their collective wisdom, to apply leverage to the non-existent money in the empty

7 Sectors Most Likely To Gain Jobs By 2015

By EconMatters

The job market is terrible, and the situation isn’t getting any better. The U.S. national unemployment rate is stagnant at 9.1% in September, and the jobs picture across America at state level didn't change much either, according to the Bureau of Labor Statistics. .

Bloomberg lamented "Unemployment has exceeded 8 percent since February 2009, the longest stretch of such elevated joblessness since monthly records began in 1948." NPR quoted the Economic

Sheep on the Street Part 1 - A closer Look at Reality

http://www.youtube.com/v/wFsWJlvm9vc?version=3&f=user_uploads&app=youtube_gdata

After perusing through a local park's Occupy Weekend, it has dawned on me that Canada is doomed as this is something like the 8th largest city in Canada. I hope Amerika is doing much better at its "peace" offerings in order to manage 'change.'

See the original video here:

Sheep on the Street Part 1 - A closer Look at

Beyond Outrageous – Steven J. Baum Halloween Party Photos Show Appalling Lack of Respect Toward the Homeowners they Defraud

Sorry but… This is Beyond Fucking Outrageous – Steven J. Baum Halloween Party Photos Show Appalling Lack of Respect Toward the Homeowners they Defraud
Posted by 4closureFraud
This one crossed the line.
As I always try to censor/warn of foul language in my posts, this one has gone too far to hold that back.
But, I guess, profane times deserve profane words...
Read the write up below and study the pictures. Look at them hard. This is what they think of you "deadbeats."

What the

Guest Post: Mario Draghi, Hawk For Whom?

Submitted by Tuur Demeester
With ex?goldmanite ‘super mario’ at the helm of the ECB, expect more money printing, a two tier banking system, and a bigger role for the IMF. After 8 years of Jean-Claude Trichet, the ECB gets a new face: the Italian Mario Draghi. From his recent statements in the press and elsewhere, many assume he will rather be a ‘hawk’ than a ‘dove’, meaning that Draghi will only print little money and will not lower interest rates aggressively. But a look

Another Eurozone Country Bites the Dust

Wolf Richter www.testosteronepit.com
Real estate in the Republic of Cyprus has been popular with foreigners who own about 100,000 homes—in a country with 803,000 people. The British alone, whose colony this was until 1960, own more than 60,000 homes. Turns out, real estate is Cyprus' national sport sponsored by dumb money. But now it has become a nightmare that is unraveling the finances not only of expat home owners, but also of developers, banks, and the government. Yet it's hushed

Forget The Unknown Unknowns: Just The Known Unknowns In The Eurozone Crisis Paint A Dismal Picture

While only the market, and no one else, seems to have a grasp on the unknown unknowns in the Eurozone crisis, and has voted two toes up, despite really having no clue what is coming for Europe, here is a report from Exclusive-Analysis that summarizes the known unknowns, and comes up with a bleak conclusion: "We remain very doubtful that the relative optimism that has followed the EU summit will last. Last time, the 10th of October, following a Berlusconi announcement of austerity in the

'Tis The Season For Seasonal Obfuscation

Submitted by Jeff Snider of Atlantic Capital Management
'Tis The Season For Seasonal Obfuscation
The headline GDP number was apparently enough growth to completely erase all thoughts of any renewed recession. However, most of us know that one quarter is not a trend and that the quarterly numbers are often statistically adjusted beyond something non-statistically meaningful.
If we look at the headline numbers in sequence, it certainly seems that the economy is picking up from the weak

Portugal Is Next: Improverished PIIG Demands US Assistance, Debt "Haircut" To Come Next

It has been just over 48 hours since our call that PIIGS the world over will scramble to demand the same concessions that were just granted to Greece courtesy of its economy being in the toilet and getting worse (thanks to lies to misrepresent the Greek economy as being worse than it really was). We already got Ireland yesterday. Now it is Portugal's turn. Reuters reports that "Portugal asked Mexico on Saturday to tell fellow G20 members next week that the United States should offer

Guest Post: One Way To Understand The EU's Inevitable Crash Landing: The Autopilot Analogy

Submitted by Charles Hugh Smith from Of Two Minds
One Way To Understand The EU's Inevitable Crash Landing: The Autopilot Analogy
The leaders of the EU don't actually know how to fly; they only know how to watch the financial sector's autopilot do its "magic." Too bad the autopilot shorted out last May.
Recent anecdotal evidence out of Asia suggests that the flight training received by some civilian airline pilots is based entirely on the aircraft's autopilot functions. Recall that an

Xtranormal Explains The European Non-Bailout Best - With A Cartoon

While it is not the bears doing the explaining in this latest all too realistic summary of the European non-bailout, it is the next best thing.

Souce: Guardian

See the original article here:

Xtranormal Explains The European Non-Bailout Best - With A

Gold and Silver News 10/29/2011 EU Debt Deal

http://www.youtube.com/v/WTKAa6L9xCI?version=3&f=user_uploads&app=youtube_gdata

EU Debt Deal

Eliminating USD

US Mint Sales of Gold and Silver Eagles

See the original video here:

Gold and Silver News 10/29/2011 EU Debt

Why Sound Money is a Basic Human Right: Alasdair Macleod

Author:

Ed Steer

Yesterday in Gold and Silver

Ed_GSDOctober 29, 2011 2:47pm GMT

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It was a very quiet trading day in the gold world yesterday. The price traded within ten dollars of its Thursday close. The gold price finished down $2.30 on the day...closing at $1,743.40 spot. Net volume reflected the price action, as only 99,000 contracts or so contracts changed hands.The

Metals recovering?

http://www.youtube.com/v/GSQ0GVTldiI?version=3&f=user_uploads&app=youtube_gdata

I speak with Jeff Nielson about his recent article and the link is here http://bullionbullscanada.com/index.php?option=com_content&view=article&id=22593:preemptive-strike-against-precious-metals-nears-end&catid=48:gold-commentary&Itemid=131 . U.S. money supply surges and the link is here http://www.zerohedge.com/news/us-money-supply-surges-surges-33-4-months-gold-follow . FT Deutschland announces return

Leading Indicators Predict Another Fed Intervention (Or EPS Rediscovers Gravity)

For the last couple of decades, ECRI's leading indicators have provided a reasonable early warning for rising and falling forward EPS estimates. With the ECRI growth rate hovering near the July 2010 lows, having fallen considerably recently, it seems that either intervention (the new normal) will come in the form of QE3 (as it did the last time we were here in Q3 2010) or EPS estimates will start to collapse notably (in line with yesterday's perspective on the rolling-over of forward EPS

Guest Post: Greek CDS Shennanigans

Submitted by Finance Addict
Greek CDS Shennanigans
We now know that private holders of Greek bonds will be “invited” (seriously–this was the word used in the EU summit statement) to take a write-down of 50%–halving the face value of the estimated $224 billion in bonds that they hold. This will help bring the Greek debt-to-GDP ratio down from 186% in 2013 to 120% by 2020. The big question–apart from how many investors they will get to go along with this, given that they

Guest Post: What’s A Young Person Supposed To Do?

Submitted by Simon Black of Sovereign Man
What’s A Young Person Supposed To Do?
I can’t begin to describe how excited I am to be visiting Tokyo while the Japanese yen is at its all-time, historic high. My timing couldn’t possibly be worse.
For reasons that are completely incomprehensible, the yen is still viewed as a stable ‘safe haven’ currency despite four completely hopeless black marks:
1) Japan’s public debt puts other bankrupt nations to shame. As a percentage of

It's Not Over: EUR Shorts Barely Budge, Leading To Concerns For Another Levered Squeeze

Last week we warned of the possibility for a massive short squeeze melt up purely due to the fact that the most leveragable driver of the stock market, the EURUSD, had barely seen a change in net short positions despite recurring noises that Europe would somehow pull a magic money tree out of the hat and all should be well. Well, they pulled it, and the EURUSD soared over 300 pips. There is one problem, however: as the latest CFTC Commitment of Traders update indicates, there was barely

Modest Late Day Excitement Tops Quiet Day

FX markets have pretty much trodden water for the last 24 hours with admittedly a small USD bullish bias providing little ammo for any correlation-driven risk-asset moves today. Credit markets did wonder gently up and down but ES was like a Parkinson's patient off his meds as it noisily whipped up and down in a small range generally tracking credit. Into the close HY and ES surged (on nothing except perhaps the EUR futures CoT data) as MF Global's stock price dived but HY managed to hold

Weekly Bull/Bear Recap: October 24-28

Submitted by Rodrigo Serrano of Rational Capitalist Speculator
Weekly Bull/Bear Recap: October 24-28
Bull
- The bears are furious as Europe once again, to their disbelief, unites and puts forth a €1 trillion package to backstop banks and sovereign debt markets. Eurozone officials also negotiate a voluntary haircut of 50% with banks to put Greece on a sustainable path forward and create time for real reform to take place. The avoidance of a credit event as well as a

Quote Of The Week

Presented without commentary:

"The central irony of financial crisis is that while it is caused by too much confidence, too much borrowing and lending and too much spending, it can only be resolved with more confidence, more borrowing and lending, and more spending."

Larry Summers, source

See the original article here:

Quote Of The

Sorry Yahoo, Hopefully Third Time Will Be The Charm

Next time Microsoft offers to buy you, you say yes.

YAHOO SAID TO LEAN TOWARD DIVIDEND, BUYBACK INSTEAD OF SALE
YAHOO SAID TO CONSIDER SELLING ASIA ASSETS ALONE

That's right - another "take under." Sorry to anyone who bought this stock on a take out/13F clone play.

See the original article here:

Sorry Yahoo, Hopefully Third Time Will Be The

Be Honest – The European Debt Deal Was Really A Greek Debt Default

Courtesy of Michael Snyder of Economic Collapse
Once the euphoria of the initial announcement faded and as people have begun to closely examine the details of the European debt deal, they have started to realize that this "debt deal" is really just a "managed" Greek debt default. Let's be honest - this deal is not going to solve anything. All it does is buy Greece a few months. Meanwhile, it is going to make the financial collapse of other nations in Europe even more likely.

Friday, October 28, 2011

ViSuaL CoMBaT DaiLY: 10.28.11 (THe WiZARD oF PONZ)

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See the original article here:

ViSuaL CoMBaT DaiLY: 10.28.11 (THe WiZARD oF

Resource Sector, Gold Still Booming: Adrian Day - New Orleans Investment Conference 2011

http://www.youtube.com/v/GimifEUXHEs?version=3&f=user_uploads&app=youtube_gdata

Adrian Day (Adrian Day Asset Management) speaks with Kitco News from the 2011 New Orleans Investment Conference. Day explains why he believes that the resource sector is still very much booming. Among many other "myths", he refutes the idea that gold is in a bubble and that gov't supertaxes will have a significant negative impact on the natural resources and mining sector. For Kitco News, Daniela Cambone

Republican Win Bad News For Gold: Mark Skousen - New Orleans Investment Conference

http://www.youtube.com/v/_h90UL9ZyZ8?version=3&f=user_uploads&app=youtube_gdata

Mark Skousen, renowned economist, investment analyst, newsletter editor, college professor and author sat down with Daniela Cambone of Kitco News to discuss gold and the global economy at large. Interestingly enough, he is quite optimistic; you don't want to miss this interview. October 27, 2011.

See the original video here:

Republican Win Bad News For Gold: Mark Skousen - New Orleans Investment

Dennis Gartman

http://www.youtube.com/v/8uYXq6wUFcw?version=3&f=user_uploads&app=youtube_gdata

See the original video here:

Dennis

Did Oakland Police Intentionally Shoot Marine Vet Scott Olsen In the Head?

MARINE VETERAN WAS PEACEFULLY STANDING WHEN ATTACKED BY POLICE
The following photograph on videos show that Marine veteran Scott Olsen was peacefully standing at the Oakland protest when police fired a projectile at him:

DID POLICE INTEND TO HIT OLSEN IN THE HEAD?
Here is a photo of the ammunition or projectiles which police shot at the Oakland protesters:

Karl Denninger argues that the police intended to hit Olsen in the head:
One ex-Marine -- a combat veteran -- took a rubber round in

"Adolf Merkel": Presenting The Greek Gratitude For The 50% Debt Haircut

One would think that considering that their debt, or rather about 60% of it, was haircut over the past 2 days, the Greeks would be grateful to Germany who not only orchestrated this transaction over the vocal protests of her French vertically challenged counterpart, but effectively has pledged a substantial portion of German GDP to preserve not only the Greek welfare state but soon that of all the other European countries. One would be wrong.
The Mail reports:

Greeks angry at the

White House Orders Review Of Energy Department Loans To Avoid Solyndra Subpoena And Exercising "Executive Privilege"

The Solyndra-gate scandal, which the GOP realizes has the potential to shake the Obama administration to the very top, refuses to go away. Earlier today AP reported that to a republican Subpoena demanding all documents instead of just those selectively produced, "could trigger a claim of executive privilege by the Obama administration and elevate the political stakes. The loan is being investigated by two House committees, which have released Solyndra-related documents from federal

World Gold Council's Natalie Dempster on Central Banks @ the Argyle Executive Forum

http://www.youtube.com/v/-AwBWbqa1vI?version=3&f=user_uploads&app=youtube_gdata

The World Gold Council's Natalie Dempster took the time to talk with Kitco News from the Argyle Executive Forum's "2011 Investment Leadership Forum: Outlooks on the Gold Market - New York" to discuss the role of central banks in the gold market. For Kitco News, Terry Wooten reports.

See the original video here:

World Gold Council's Natalie Dempster on Central Banks @ the Argyle Executive

US Dollar Has Cancer - Mike Maloney of GoldSilver.com

http://www.youtube.com/v/LniuUT0XSYo?version=3&f=user_uploads&app=youtube_gdata

http://www.goldsilver.com Mike Maloney explains why he believes the dollar is doomed...and since we can't stop what is happening, we should ensure that we are on the right side of the coming transfer of wealth. You can only play the hand you are dealt.

Mike will be speaking at the Casey Summit in April...more info here: http://www.caseyresearch.com/2011-spring-summit/

Thanks for watching, be sure to

Berlusconi Battered As Bonds Break 6%

Presented with little comment as we note BTPs have broken the week's low prices and are significantly off their knee-jerk response highs. It is clear that investors don't want to be too long BTPs into a weekend which will be full of research and thinking about reality as we broke the dismal Maginot line of 6% yield. Chatter of ECB buying came and went as it is very clear that managers and traders want out. The unintended consequence of banning CDS combined with an EFSF that is both

Eric Sprott on Silver: An Attractive Time to Buy

Author:

Ed Steer

Yesterday in Gold and Silver

Ed_GSDOctober 28, 2011 11:10am GMT

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Print

As has been the case of late, the gold price didn't do much in Far East trading on Thursday...and began to drift gently lower starting shortly before 11:00 a.m. Hong Kong time. By the time the low of the day was in around 11:15 a.m. in London, the gold price was down about twenty bucks from

Breaking Broken Connections

Breaking Broken Connections

By
Cognitive Dissonance

From the moment we exit the birth canal we begin the process of making and breaking life’s connections. For example, our very first broken connection is the cutting of the umbilical cord which was our link to the gestation cocoon within the mother ship. Upon breaking this connection we immediately transition to bonding with mother and breast and the physical world outside. How we accomplish this, how we cope while doing so and the

And Now, For Some Semblance Of Sanity, Here Is One Hour Of Hugh Hendry

After today's ridiculous move in the market, which brings back memories of either August 2007, March 2008, the reaction after the Tarp vote (the successful one), August 2011, when the market gyrated by 400 points on a daily basis, and many more bear market rallies, we hope to restores some semblance of normalcy by presenting the following series of clips all from Hugh Hendry speechs at the LSE's Alternative Investments Conference earlier this year. Must watch, because when everyone loses

Did POTUS Just Become A Self-Congratulatory FT Op-Ed Blogger?

While we have become used to the most 'important' thinkers, book-talkers, and self-aggrandizers gracing the pages of various mainstream media outlets with op-eds, we were somewhat surprised when the FT posted Barack Obama as El-Erian's replacement this evening. His thoughtful prose provides little of substance but does highlight the fact that self-hypnosis and surrounding one-self with a willing crowd of yay-sayers can make any disaster seem soluble. Presented with no snark, we suspect

Retail Trader Positioning 28th October – EURUSD on fire

USDJPY continues to push the high 80s in terms of percentage of traders long. AUDUSD with 59.55% of retail traders short has pushed into the long bias zone.
The warm and fuzzy glow left after the Euro summit agreements has given the EUR a lot of strength with EURGBP and EURUSD now in the strong long zones with 66.48% and 66.71% of traders short respectively. Conversely the CHF safe haven is very much in play even against EUR strength, 71.69% of retail traders are long EURCHF we remain

Thursday, October 27, 2011

Occupy Wall Street Launching First Nationwide General Strike In America Since 1946

Rumors have been flying for a week that the Occupy protesters will be launching a nationwide general strike. We have been biting our tongue waiting for a formal decision.
Mother Jones tweets:
From our reporter at #occupyoakland General Assembly just now MT @timmcdonnell: General strike passes with 1184 votes of approval

JackalAnon tweets:
STRIKE APPROVED FOR NEXT WEDNESDAY! GENERAL STRIKE FIRST TIME IN THE USA SINCE 1946!

(The last American general strike was also in Oakland).

The

Guest Post: EU Leaders Throw Europe a Plutonium Life Preserver

Submitted by Charles Hugh Smith from Of Two Minds
EU Leaders Throw Europe a Plutonium Life Preserver
The euro system was doomed from inception for fundamental reasons; trying to conjure up "something for nothing" solutions will fail catastrophically, and soon.
As Europe flails helplessly in the waves of insolvency, its leadership has tossed it a life preserver. Too bad it's plutonium, and will take Europe straight to the bottom. Plutonium is of course one of the most toxic materials on the

Euro Bailout Cracks Emerge; Greece "Just Says No"

When reporting on the announcement of the math-free deus ex machina bail out that was announced last night, which nobody still has any grasp over, but it had a "trillion" in there somewhere so that alone sent the market scurrying, we suggested that it would take about 24-48 hours for reality to start settling in. It may have been considerably less. As the Telegraph reports, "A trillion euro bail-out to save the EU’s single currency is in danger of unraveling after Germany’s central

MF Global Taps Credit Facility, Burns Through $2 Billion In Quarter

Update: and the hits just keep on coming, first Fitch and now... MF GLOBAL CUT TO JUNK BY MOODY'S... "At the end of the second quarter, MF Global's $6.3 billion sovereign risk exposure represented 5 times the company's tangible common equity. Moody's said the downgrade reflects our view that MF Global's weak core profitability contributed to it taking on substantial risk in the form of its exposure to European sovereign debt in peripheral countries." But other major US banks have no

The Inexplicable American Consumer Strikes Again

By Wolf Richter www.testosteronepit.com
The recent consumer confidence indices, after a pickup in the spring, have collapsed to levels not seen in years and in some cases in decades. Yet the inexplicable American consumer, the toughest and most indefatigable creature out there that no one has yet been able to beat down, struck again. Consumer spending increased at an annual rate of 2.4% during the third quarter, though the mood, as measured by the confidence indices, has become

Listener Questions 10/27/11 Preview

http://www.youtube.com/v/wC9Py-ZeN5A?version=3&f=user_uploads&app=youtube_gdata

Tina from Huntington Beach, CA: How could Sen. Schumer's plan to sell homes to foreign investors in exchange for a visa change the housing market for average middle-class Americans? My husband and I are waiting to buy our first house here in Orange County, CA. When would you buy? Would you?

Submit your webcast questions here: http://schiffradio.com/contactus?loadForm=4#contactForms

See the original

11-10-27adrianday.mp4

http://www.youtube.com/v/GimifEUXHEs?version=3&f=user_uploads&app=youtube_gdata

See the original video

11 10 27markskousen

http://www.youtube.com/v/_h90UL9ZyZ8?version=3&f=user_uploads&app=youtube_gdata

See the original video here:

11 10

12/15 Paul C Muir ~ TMRN -2011-10-14 Time Monk Radio Interviews Present:

http://www.youtube.com/v/B6wOTqSVmzg?version=3&f=user_uploads&app=youtube_gdata

http://www.mediafire.com/?3wa72cr08a027ys

2011 10-14
Time Monk Radio Network Interviews Presents:
Paul C Muir on TMRN Radio

Orbs/Orb Fulgurite Theory ~ Initiation/Shamanism ~
Energy Healing/remote healing-viewing ~ Pre-history/Ancient cultures & other mysteries

http://www.lulu.com/spotlight/wookiepaul
http://urbansurvival.com/
http://halfpasthuman.com/
http://webbotforum.com/

See the original

11/15 Paul C Muir ~ TMRN -2011-10-14 Time Monk Radio Interviews Present:

http://www.youtube.com/v/sEOKwklDS7g?version=3&f=user_uploads&app=youtube_gdata

http://www.mediafire.com/?3wa72cr08a027ys

2011 10-14
Time Monk Radio Network Interviews Presents:
Paul C Muir on TMRN Radio

Orbs/Orb Fulgurite Theory ~ Initiation/Shamanism ~
Energy Healing/remote healing-viewing ~ Pre-history/Ancient cultures & other mysteries

http://www.lulu.com/spotlight/wookiepaul
http://urbansurvival.com/
http://halfpasthuman.com/
http://webbotforum.com/

See the original

10/15 Paul C Muir ~ TMRN -2011-10-14 Time Monk Radio Interviews Present:

http://www.youtube.com/v/tloOtYW5cx8?version=3&f=user_uploads&app=youtube_gdata

http://www.mediafire.com/?3wa72cr08a027ys

2011 10-14
Time Monk Radio Network Interviews Presents:
Paul C Muir on TMRN Radio

Orbs/Orb Fulgurite Theory ~ Initiation/Shamanism ~
Energy Healing/remote healing-viewing ~ Pre-history/Ancient cultures & other mysteries

http://www.lulu.com/spotlight/wookiepaul
http://urbansurvival.com/
http://halfpasthuman.com/
http://webbotforum.com/

See the original

Bloomberg Comfort Index Shows Economic Expectations Lowest Since March 2009.

While this was surveyed before the earth-changing discussions last night, Bloomberg's Consumer Comfort Index hits its lowest level in over a month. We have pointed to the stable and low levels of consumer confidence/sentiment/comfort many times recently but today also sees expectations (a much more powerful indicator of potential spending) drop to its lowest since March 2009 and the current state of the economy at its lowest since Feb09 (which was the only print EVER lower than current).

James Turk interviews Ralf Flierl in Vienna

http://www.youtube.com/v/CoknPI1ZgSo?version=3&f=user_uploads&app=youtube_gdata

Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. Ralf Flierl, Editor of Smart Investor Magazin, and James Turk, Director of the GoldMoney Foundation, talk about investing in today's uncertain world. They talk about precious metals, stocks, real estate, commodities and how tangible assets are the best protection in a currency crisis.

They explain how people feel that something is

Paper Currency Has Too Much Bull, Not Enough Bullion: Globe and Mail, Toronto

Author:

Ed Steer

Yesterday in Gold and Silver

Ed_GSDOctober 27, 2011 10:57am GMT

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Print

Gold didn't do a whole heck of a lot in Far East trading on Wednesday, but the price was up about a percent shortly after 2:00 p.m. Hong Kong time...and that was the high print for the gold price in the Far East.From there it went into a very slow, quiet decline that lasted until minutes after the

Gun Ownership Soars To 18 Year High: 47% Of Americans Admit To Owning A Gun

Americans may be fleeing from stocks in droves, but they sure aren't shy about rotating the resulting meager liquidation proceeds into weaponry. According to Gallup, "Forty-seven percent of American adults currently report that they have a gun in their home or elsewhere on their property. This is up from 41% a year ago and is the highest Gallup has recorded since 1993, albeit marginally above the 44% and 45% highs seen during that period." Considering the social situation "out there", and

EBA Releases Details Of €106 Billion Bank Capital Shortfall

Here are the EBA's latest stress test results, or, more specifically, the worthless exercise of how much capital European banks need to get to both 9% Tier 1 as well as to build a "temporary capital buffer against sovereign debt exposures to reflect current market prices." Let's not forget that in the last two stress tests, the EBA found something like a grand total of €5 billion in capital deficiency. This time, the joke is again on the EURUSD traders, as the number for Tier 1 at

USDJPY 87.18% of traders long!

Retail positioning in USDJPY continues to make new peaks with every day that passes, an all time peak of 87.18% of retail traders being LONG the pair has been reached today. Its a painful thing to see but as contrarians we maintain a short bias for intraday trading positions.
USDJPY is forming a squeeze formation over the last week or so, which is much like a spring being coiled for a break out. There are 2 fundamentally driven scenarios for this breakout:
1. If global uncertainty

Risk Transfer Begins As EFSF Spreads Widen And Sovereigns/Banks Improve

Expectations of a grand plan may be on hold for a little while as the reality sets in for traders and asset managers alike this morning. Despite EUR strength, back above and holding a 1.40 handle, risk assets in general are less excited. European credit indices are opening tighter, as we would expect with higher beta outperforming. XOver -32bps and SENFIN -16bps may seem impressive but there is little follow-through in the underlying credits with most of the major European financials at

Where's Andrew Maguire? - Silver Manipulation Debate Wrap-Up

http://www.youtube.com/v/TUu7MNw7fF8?version=3&f=user_uploads&app=youtube_gdata

GATA vs. CPM Group - Watch the Great Silver Manipulation Debate: http://youtu.be/7hnIqE1_ZGU

Join the discussion on the Kitco Forums - http://kitcomm.com

See the original video here:

Where's Andrew Maguire? - Silver Manipulation Debate

Gold Seen as Safe Haven Again - Oct. 25 - FMX Connect + Kitco News

http://www.youtube.com/v/PFnwUMHEHQ4?version=3&f=user_uploads&app=youtube_gdata

Vince Lanci of FMX Connect joins Kitco News to discuss gold's restored status as a safe haven asset and desirable hedge against inflation. Daniela Cambone reports.

See the original video here:

Gold Seen as Safe Haven Again - Oct. 25 - FMX Connect + Kitco

Gerald Celente - Jimmy Cefalo - WIOD - 24 Oct 2011

http://www.youtube.com/v/p-TL2spZnGY?version=3&f=user_uploads&app=youtube_gdata

Gerald Celente - Jimmy Cefalo - WIOD - 24 Oct 2011

Trends Journal: http://www.trendsresearch.com/journal
Twitter: http://twitter.com/geraldcelente

See the original video here:

Gerald Celente - Jimmy Cefalo - WIOD - 24 Oct

Wednesday, October 26, 2011

Egyptian Brutality Comes to America: Police Fire Rubber Bullets at Peaceful Protesters

This is not Egypt, Greece or Italy ... this is America:

The injured gentlemen is Veterans for Peace member Scott Olsen, allegedly shot with a rubber bullet.
This is another gentlemen allegedly shot in the face with a rubber bullet (his injury is above his right eye, while the injury to Scott Olsen appears to be on the left side of his face):

Here are police roughing up a peaceful woman protester:
And a policeman threw a flash grenade into a crowd trying to help an injured

Bailout Bustday Caption Contest

So just what is Angie talking about?

h/t Wes

See the original article here:

Bailout Bustday Caption

Guest Post: Boots On The Ground In China: Signs Of A Slowdown Are Obvious

Submitted by Simon Black of Sovereign Man
Boots On The Ground In China: Signs Of A Slowdown Are Obvious
Stunned. That probably best describes the mood of China's vast pool of property owners. For the last few years, anyone with as much as a taxi driver's salary has been speculating in the real estate market, scooping up off-plan properties at terms that would make a Countrywide mortgage broker blush.
And why not? Chinese culture has almost universally adopted the attitude that property

Your Favorite Politicians As Nascar Drivers: Presenting The Sponsors

When watching politicians on TV, consistently peddling the agenda of their biggest bidder and never, unfortunately, that of the electorate, one often wonders: why do these people not wear the logos and decals indicating who their sponsor is, and how much money changes hands. After all it works for sports personalities of all shapes and sizes: why should politicians be exempt. Granted, the quid pro quo is to influence behind the scenes, and as such an overt act of advertising would be

We Have A Deal!

We just may have a deal:

EU OFFICIAL SAYS DEAL REACHED ON GREEK DEBT-CUTTING PLAN: AP
'PRIVATE CREDITORS TO TAKE 50% CUT ON GREEK BONDS, AP SAYS
EU official, who wished to remain anonymous, tells Bloomberg that euro-area leaders are set to approve accord for 50% writedown on Greek bonds

If true, this means that Portugal, Ireland, Spain and Italy will promptly commence sabotaging their economies (just like Greece) simply to get the same debt Blue Light special as Greece. It also means

Watch The Concluding Euro Summit Press Conference - Live Webcast

In a few short minutes, at 4 am local time, Herman Van Rompuy will hold a press conference to formally announce the 50% haircut agreement, to somehow pretend that a 50% haircut is voluntary, and to finally release the captive reporters. Watch it live.

See the original article here:

Watch The Concluding Euro Summit Press Conference - Live

Here Is How The 50% Greek Haircut Is Actually Just 28%

Just the math, something Europe is unable to do:

Greece has €350 billion in total debt including about €70 billion in Troika "post-petition" loans; these are untouched.
Of the €280 billion, roughly €75 billion is held by the ECB: this, like the Troika loans, will be untouched.
This leaves just ~€200 billion in actual debt to undergo a haircut.
Apply a 50% haircut to this debt (ignoring the fact that of this about €35 billion is held by Greek pension funds, and once the

THe WWF FaRCE 2011 (WiLL iT EVeR eND?)

Everyone remain calm...a solution "Lays a Head"

Or did I mean "quit while you're a head."

And now, introducing the master financial slicer and leveraged EFSF dicer himself...
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And his trustee helicopter pilot...
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BTW, the entire three part series of PTA is now available...
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Together with this oldie but scary goody...

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Apparently FAUX NEWS is at War with OWS.
And "He can't wait."

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Meet Rene Fawkes

See the original article here:

THe WWF FaRCE

Which Way Wednesday - EFSF'd Up Edition

Which Way Wednesday - EFSF'd Up Edition
Courtesy of Phil of Phil's Stock World
QE-C (China)?
That's the word out of Asia this morning as the Hang Seng flipped 360 points higher after Premier Wen Jiabao said economic policy needs to be fine-tuned and asked local governments to check for signs of lending distress. The markets took that thin sauce as sign that monetary easing is on the way. You would think people in China would be happy as minimum wages rose at an annualized 21.7% pace in

Freddie CEO Leaving Company: To Get $3.9 Million For Receiving $14.5 Billion In Bailout Cash Over His Tenure

If you are a CEO in America, what is the surest way to get at least $4 million in compensation in two years? Why to burn $14.5 billion of course. Such is the sad plight of mortgage zombie Freddie Mac CEO Ed Haldeman, who as Politico reports, is set to depart the company after just two years of joining. So what is Mr. Haldeman's claim to fame over those 8 quarters? Why nothing short of collecting $14.5 billion in "Treasury Draws" over the two years. What is a draw? The technical

Relentless Equity Outflows Continue: YTD Mutual Funds Redemptions Surpass 2010 Total, Despite Broad Market Squeeze

If the purpose of the forced short squeeze between stocks and the EURUSD was supposed to get retail investors back in the rigged casino, it has failed. In the week ended October 19, yet another $3.5 billion in funds was redeemed from domestic equity mutual funds, with all of it and then some once again rotating into fixed income funds, which even despite offering persistently record low yields, continue to be far more attractive to Joe Sixpack than the joke of a centrally planned policy

pt 2/2 Gerald Celente at Liberty Plaza

http://www.youtube.com/v/8MGBqRCc8ps?version=3&f=user_uploads&app=youtube_gdata

Gerald Celente at Liberty Plaza.- 25 Oct 2011
Trends Journal: http://www.trendsresearch.com/journal
Twitter: http://twitter.com/geraldcelente

See the original video here:

pt 2/2 Gerald Celente at Liberty

pt 1/2 Gerald Celente at Liberty Plaza

http://www.youtube.com/v/HCmhROfAiH8?version=3&f=user_uploads&app=youtube_gdata

Gerald Celente at Liberty Plaza.- 25 Oct 2011
Trends Journal: http://www.trendsresearch.com/journal
Twitter: http://twitter.com/geraldcelente

See the original video here:

pt 1/2 Gerald Celente at Liberty

Central Banks are Losing the Fight Against Gold: John Hathaway

Author:

Ed Steer

Yesterday in Gold and Silver

Ed_GSDOctober 26, 2011 11:10am GMT

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Print

Well, compared to what happened the moment that the London p.m. gold fix was in at 3:00 p.m. British Summer Time on Tuesday, not much happened before that. The smallish rally that got capped shortly after the London open yesterday morning, sort of disappeared into insignificance...and by 10:00

Tuesday, October 25, 2011

Dis and Dat

On Cocktail Party Stocks

A chart of NFLX and some thoughts.

There are good and valid reasons for this 75% drop in 4 months. The stock deserved to have gotten crushed. But this is more than just bad company news. There are a bunch of other “names” that have been slammed to the ground of late (FSLR/MCP etc). Those who listened to the TV hosts, stockbrokers and “smart guy” talk over drinks deserve everything they get. But I have to ask,

“How much of the ‘air’ in NFLX

The Beginning Of The European Endgame

From Peter Tchir of TF Market Advisors
ECB Bond-Buying Should End With New EFSF, German Motion Says
I think this is one of the most important bits of news on the day. This and the fact that the Dutch finally said something - and it wasn't positive.
I have been arguing that the solutions create contagion rather than prevent it. I've also argued that the ECB and EFSF and to some extent the IMF are all the same pools of money.
Now that Europe has actually tried to do some calculations,

Ex-Goldman Director Will Turn Himself In To FBI, To Face Criminal Charges

Is it safe to say that the Goldman love affair with the government is officially over? From Reuters: "Former Goldman Sachs director Rajat Gupta will surrender to the FBI on Wednesday to face criminal charges, a person familiar with the investigation said. Gupta was named as an unindicted co-conspirator in hedge fund founder Raj Rajaratnam's trial earlier this year. He has denied wrongdoing. Rajaratnam was sentenced to 11-years in prison this month. Gupta's attorney, Gary Naftalis, did not

The Groupon Groupon

Simply because it is right there, just waiting... And in more serious news, has Groupon pulled its IPO yet? After all, isn't any down day now considered "market conditions?"

h/t Three Comma Kid

See the original article here:

The Groupon

Peter Schiff: How gov't stimulus spending & deficits impact capital markets (Full Version)

http://www.youtube.com/v/6uDbrvir6Lo?version=3&f=user_uploads&app=youtube_gdata

Peter Schiff, CEO and chief global strategist of Euro Pacific Capital, discusses how excessive government intervention hinders economic recovery and growth, during a Fraser Institute policy briefing on Thursday, Oct. 13 at the University Club of Montreal.

Schiff has been quoted in leading newspapers, including The Wall Street Journal and the Financial Times, and appears regularly on CNBC, CNN, Fox

11-10-24postsilverdebate.mp4

http://www.youtube.com/v/TUu7MNw7fF8?version=3&f=user_uploads&app=youtube_gdata

See the original video

11-10-25vincelanci_ep10.mp4

http://www.youtube.com/v/PFnwUMHEHQ4?version=3&f=user_uploads&app=youtube_gdata

See the original video

Charting The Impact Of Eurozone Meetings On The Most Critical European Security

While the US may have its "committee" decision to every problem in the world, Europe has the "summit meeting" which in the past would kiss and make everything better. No longer. As the following chart from Reuters indicates, annotating the relentless rise in Italian yields (which have about 100 bps in buffer from full out Eurozone collapse: if the 10 Year BTP hits 7.00% it's game over), the half life of the mere meeting in terms of favorable impact is now negligible and in fact, negative.

Latest European Headlines

Over the next 24 hours expect many post of this nature:

DE JAGER SAYS ITALY NEEDS TO TAKE EXTRA GOVERNANCE MEASURES
GREEK BONDHOLDER LOSS WILL BE 60%, ANA CITES VERHOFSTADT SAYING

Liesman spin on how 60% losses is not a CDS trigger event coming in 10 minutes.
In the meantime it gets worse:

There was no also sign of a deal in negotiations to reduce Greece's debt to private sector bondholders, and uncertainties remained over the size of a planned bank recapitalization and the scope

Gregor Hochreiter talks to James Turk

http://www.youtube.com/v/X2IL3rUemYI?version=3&f=user_uploads&app=youtube_gdata

Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. Gregor Hochreiter, Author of "Krankes Geld, Kranke Welt", and James Turk, Director of the GoldMoney Foundation, talk about his book and how it explains that the lack of hard money not only impacts economics but also morality and values. Gregor explains that institutions impact individual behaviour and that fiat money encouraged debt

Tangible assets protect you against currency collapse

http://www.youtube.com/v/sz2Iuc6T9Zk?version=3&f=user_uploads&app=youtube_gdata

Watch the full 10-minute video at http://www.goldmoney.com/flierl-turk-interview. Ralf Flierl, Editor of Smart Investor Magazin, and James Turk, Director of the GoldMoney Foundation, talk about investing in today's uncertain world. They talk about precious metals, stocks, real estate, commodities and how tangible assets are the best protection in a currency crisis.

This interview was recorded on October

Understand the monetary system to protect your wealth

http://www.youtube.com/v/TDNKR0WXzgE?version=3&f=user_uploads&app=youtube_gdata

Watch the full 10-minute video at http://www.goldmoney.com/flierl-turk-interview. Ralf Flierl, Editor of Smart Investor Magazin, and James Turk, Director of the GoldMoney Foundation, talk about how people feel that something is wrong with our financial and monetary system, but can't explain it. Ralf Flierl explains that without understanding how our fiat money system works, it is difficult to know how to

Gold's True Value is Above $11,000 Per Ounce, Turk Tells King World News

Author:

Ed Steer

Yesterday in Gold and Silver

Ed_GSDOctober 25, 2011 11:09am GMT

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The gold price was up about ten dollars or so during the late afternoon in Far East trading...but an attempt to break through the $1,660 spot level shortly after the start of Comex trading got sold off. Gold then traded sideways for the rest of the New York trading session. The gold price

Graham Summers’ Weekly Market Forecast (Stocks Are Last to Get It Edition)

Last week’s moves were entirely based on the fact that stocks are now tracking the Euro almost tick for tick. And last week, the Euro hit “take off,” despite the clear indications that Europe is facing systemic failure (the entire banking system is leveraged at Lehman-like levels and European sovereigns are facing failed bond auctions on a weekly basis).

From a technical standpoint, stocks are now coming up against the 50% retracement level:

I mentioned that last week

These Are The 18 Trades That Steve Cohen Is Being Investigated For

The WSJ has published the list of 18 trades that Finra is currently investigating (or, rather, isn't) Steve Cohen's hedge fund for illegal practices ("expert networks" and what not), using the same methodology as that applied by Zero Hedge a year ago, before anyone had the faintest clue that SAC would be the target of an extensive theatrical campaign by regulators and populist politicians. The following statement by Finra is priceless: "In the 18 referrals made by Finra and the NASD

The Fed Bails Out Gaddafi’s Libyan Bank, Arab Banking Corp. of Bahrain, Banks of Bavaria, Korea and Mexico … But Shafts America

Fox Business notes:
The conflicts of interest and policy controversies in the Federal Reserve’s bailout of the financial system now include helping out millionaires, billionaires, foreign automakers, and companies whose executives sit on the board of directors of the U.S. central bank.

The Federal Reserve also bought more than $2.2 billion in commercial paper from the state-owned central bank of Bavaria, and it gave more than $23 billion in loans to the Arab Banking Corp.

The Coming New Recession: A Game Plan

This article was written by DoctoRx and it first appeared on the Daily Capitalist. The Doc has 30 years of investment expertise.
I wanted to summarize some major themes we have been addressing on the Daily Capitalist.
First and foremost, my view is that the markets and the mainstream media have been giving insufficient attention (if any at all) to the core problem that was revealed by the meltdown in 2008. Massive amounts of capital was misspent ("malinvested") during the boom. In

Winners And Losers: The New Economy

This article originally appeared in the Daily Capitalist.
There was a wonderful article in the Wall Street Journal this weekend on the ultra (über, hyper, 1%) rich. The article ("The Wild Ride of the 1%") discusses the volatility of wealth of the top 1% income earners in America. The author, Robert Frank, reveals that these people's income and wealth have become much more unstable than the wealthy class of the past. He makes an important point about today's economy. I urge you to read

HOW WALL STREET FLEECES AMERICA: Stephen Lendman

http://www.youtube.com/v/ZIAsW14MRco?version=3&f=user_uploads&app=youtube_gdata

My interview with author Stephen Lendman. We discuss the fleecing of America by Wall Street and the associated private banking cartel.

Steve's Blog:
http://sjlendman.blogspot.com/

The content in my videos and on the SGTbull07 channel are provided for informational purposes only. Use the information found in my videos as a starting point for conducting your own research and conduct your own due

Monday, October 24, 2011

High Yield Hedge Capitulation, Risk-Appetite Back, Or Just More Illqiuidity?

We often discuss how credit markets have provided useful insights (and potential pre-emptive indications) with regard to risk appetite and whether ES should rip and today's incredible rally in HYG (the high yield credit bond ETF) is one to be aware (beware) of. The rumble of liquidity-driven hedging being unwound was very loud indeed and as spreads reach significant levels on a medium-term basis and HYG recovers its major drop in price, we wonder if the market is now less prepared to

Commodities Snapshot: Oversold For Now, Dollar Holds The Key

By EconMatters
Below are trading range charts for 10 major commodities from the Bespoke Group. All 10 commodities are currently at or below the bottom of their trading ranges, which would suggest at the moment, a good opportunity to get in at oversold levels for investors looking to gain long-term exposure.

However, U.S. dollar has been strengthening as investors fled the Euro debt and financial crisis seeking safety in the dollar. Since most commodities are priced in dollar,

Just Say No, Germany ... and Don't Listen to Geithner

By Wolf Richter www.testosteronepit.com
The German parliament has a historic opportunity to say no to the bankers: On Wednesday, the Bundestag gets to vote on the expansion of the European bailout fund, the EFSF. The new limit: €1 trillion ($1.37 trillion), though it had just been expanded to €440 billion. Since no one has any money, the expansion will be in form of leverage—the very mechanism that has wreaked so much havoc already.
While the details are still uncertain, we know

Ray Dalio On Whether The Current "Hopeless, Mob-Rule Deleveraging " Can Lead To The Ascent Of Another "Hitler"

Yesterday we presented the complete must watch Ray Dalio interview and transcript from his Charlie Rose appearance in which he explained how, in his increasingly skeptical view, we are now "out of ammunition" as there are "no more tools in the toolkit." Today, he layers on top of this rather bleak macroeconomic perspective some very disturbing observations, specifically, what the realization of the dead end situation facing monetary and discal authorities means when confronted with a

As Hope For EFSF Solution Vanishes, Europe Comes Crawling To Uncle Sam

With less than 48 hours left until Europe's latest and greatest summit on Wednesday (no point in keeping count: it is certain that yet more extensions wil be demanded and granted, letting the EURUSD have just that much more space from where to fall) Europe has, as it usually does in the 12th hour after it whips out the abacus, realized that the EFSF in its latest incarnation is Dead on Arrival (as expected). So what does Europe do? Why come crawling to Uncle Sam of course, only in this

2008/2011 Chart Update

By www.thetrader.se

With markets having put on nice gains during the past weeks on hopium of the Euro mess getting solved, let’s review some important charts. SPX has retraced approx. 57% of the move down from the highs we put in this summer. We are slowly approaching the 200 day moving average, and major resistance levels.
Compared to 2008, the chart set up is looking similar. Back in 2008 we had the same collapse, and we retraced approx. 57% from the highs made back then. The long

Copper Jumps More Than 3 Standard Deviations On Largest 2-Day Rally Since March 09

Presented with little comment - aside from a snark nod to Trichet's much-heralded price-stability platform - Copper (at current levels) looks set to make its largest two-day rally since MAR09 with a shift well over three standard deviations from long-run means. Its hard to comprehend a higher USD and still falling SHCOMP along with the perspective that China is a little hot and may need more tightening with this ramp-fest, but then again applying sense to these markets is now nonsense

Guest Post: The Real Contagion Risk

Submitted by Chris Martenson
The Real Contagion Risk
Around here we like to track things from the outside in, as the initial movements at the periphery tend to give us an early warning of when things might go wrong at the center. It is always the marginal country, weakest stock in a sector, or fringe population that gives us the early warning that trouble is afoot. For example, rising food stamp utilization and poverty levels in the US indicate that economic hardship is progressing from

EURUSD Soars To 1.39 As French-Bund, EFSF Spreads Surge To New All Time Highs

Uh, what is going on? Are French banks selling everything USD-denominated, promptly dumping the USD proceeds, and converting everything into Euros? Someone clearly knows something and is not happy with France, and hence EFSF spreads, as both the OAT-Bund and EFSF spreads have just surged to new records... but it sure isn't the ES which, oblivious as always, just trades with 1.000 correlation to the EURUSD which continues to telegraph precisely the opposite of what most believe. Oh

Nick Laird talks to Dominic Frisby

http://www.youtube.com/v/zxzho2wrEes?version=3&f=user_uploads&app=youtube_gdata

Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. Dominic Frisby interviews Nick Laird, of http://www.sharelynx.com, for the GoldMoney Foundation. They talk about the gold price and gold charts in detail and Nick mentions his time frame and price targets for the gold bull market.

They discuss several ways of valuing and charting gold, comparing it to the DJI through the Dow/gold

09/15 Paul C Muir ~ TMRN -2011-10-14 Time Monk Radio Interviews Present:

http://www.youtube.com/v/vg25iolJga0?version=3&f=user_uploads&app=youtube_gdata

http://www.mediafire.com/?3wa72cr08a027ys

2011 10-14
Time Monk Radio Network Interviews Presents:
Paul C Muir on TMRN Radio

Orbs/Orb Fulgurite Theory ~ Initiation/Shamanism ~
Energy Healing/remote healing-viewing ~ Pre-history/Ancient cultures & other mysteries

http://www.lulu.com/spotlight/wookiepaul
http://urbansurvival.com/
http://halfpasthuman.com/
http://webbotforum.com/

See the original

08/15 Paul C Muir ~ TMRN -2011-10-14 Time Monk Radio Interviews Present:

http://www.youtube.com/v/Z2lfZ3Gg8pY?version=3&f=user_uploads&app=youtube_gdata

http://www.mediafire.com/?3wa72cr08a027ys

2011 10-14
Time Monk Radio Network Interviews Presents:
Paul C Muir on TMRN Radio

Orbs/Orb Fulgurite Theory ~ Initiation/Shamanism ~
Energy Healing/remote healing-viewing ~ Pre-history/Ancient cultures & other mysteries

http://www.lulu.com/spotlight/wookiepaul
http://urbansurvival.com/
http://halfpasthuman.com/
http://webbotforum.com/

See the original

07/15 Paul C Muir ~ TMRN -2011-10-14 Time Monk Radio Interviews Present:

http://www.youtube.com/v/IRcEvslAze0?version=3&f=user_uploads&app=youtube_gdata

http://www.mediafire.com/?3wa72cr08a027ys

2011 10-14
Time Monk Radio Network Interviews Presents:
Paul C Muir on TMRN Radio

Orbs/Orb Fulgurite Theory ~ Initiation/Shamanism ~
Energy Healing/remote healing-viewing ~ Pre-history/Ancient cultures & other mysteries

http://www.lulu.com/spotlight/wookiepaul
http://urbansurvival.com/
http://halfpasthuman.com/
http://webbotforum.com/

See the original

06/15 Paul C Muir ~ TMRN -2011-10-14 Time Monk Radio Interviews Present:

http://www.youtube.com/v/XhT__t1qjec?version=3&f=user_uploads&app=youtube_gdata

http://www.mediafire.com/?3wa72cr08a027ys

2011 10-14
Time Monk Radio Network Interviews Presents:
Paul C Muir on TMRN Radio

Orbs/Orb Fulgurite Theory ~ Initiation/Shamanism ~
Energy Healing/remote healing-viewing ~ Pre-history/Ancient cultures & other mysteries

http://www.lulu.com/spotlight/wookiepaul
http://urbansurvival.com/
http://halfpasthuman.com/
http://webbotforum.com/

See the original

05/15 Paul C Muir ~ TMRN -2011-10-14 Time Monk Radio Interviews Present:

http://www.youtube.com/v/_866R52uqIE?version=3&f=user_uploads&app=youtube_gdata

http://www.mediafire.com/?3wa72cr08a027ys

2011 10-14
Time Monk Radio Network Interviews Presents:
Paul C Muir on TMRN Radio

Orbs/Orb Fulgurite Theory ~ Initiation/Shamanism ~
Energy Healing/remote healing-viewing ~ Pre-history/Ancient cultures & other mysteries

http://www.lulu.com/spotlight/wookiepaul
http://urbansurvival.com/
http://halfpasthuman.com/
http://webbotforum.com/

See the original

04/15 Paul C Muir ~ TMRN -2011-10-14 Time Monk Radio Interviews Present:

http://www.youtube.com/v/bhoMc5DWLZ0?version=3&f=user_uploads&app=youtube_gdata

http://www.mediafire.com/?3wa72cr08a027ys

2011 10-14
Time Monk Radio Network Interviews Presents:
Paul C Muir on TMRN Radio

Orbs/Orb Fulgurite Theory ~ Initiation/Shamanism ~
Energy Healing/remote healing-viewing ~ Pre-history/Ancient cultures & other mysteries

http://www.lulu.com/spotlight/wookiepaul
http://urbansurvival.com/
http://halfpasthuman.com/
http://webbotforum.com/

See the original

03/15 Paul C Muir ~ TMRN -2011-10-14 Time Monk Radio Interviews Present:

http://www.youtube.com/v/FpjcnnoekW4?version=3&f=user_uploads&app=youtube_gdata

http://www.mediafire.com/?3wa72cr08a027ys

2011 10-14
Time Monk Radio Network Interviews Presents:
Paul C Muir on TMRN Radio

Orbs/Orb Fulgurite Theory ~ Initiation/Shamanism ~
Energy Healing/remote healing-viewing ~ Pre-history/Ancient cultures & other mysteries

http://www.lulu.com/spotlight/wookiepaul
http://urbansurvival.com/
http://halfpasthuman.com/
http://webbotforum.com/

See the original

02/15 Paul C Muir ~ TMRN -2011-10-14 Time Monk Radio Interviews Present:

http://www.youtube.com/v/XBlGTKCifRs?version=3&f=user_uploads&app=youtube_gdata

http://www.mediafire.com/?3wa72cr08a027ys

2011 10-14
Time Monk Radio Network Interviews Presents:
Paul C Muir on TMRN Radio

Orbs/Orb Fulgurite Theory ~ Initiation/Shamanism ~
Energy Healing/remote healing-viewing ~ Pre-history/Ancient cultures & other mysteries

http://www.lulu.com/spotlight/wookiepaul
http://urbansurvival.com/
http://halfpasthuman.com/
http://webbotforum.com/

See the original

01/15 Paul C Muir ~ TMRN -2011-10-14 Time Monk Radio Interviews Present:

http://www.youtube.com/v/W8GvRfWgmvo?version=3&f=user_uploads&app=youtube_gdata

http://www.mediafire.com/?3wa72cr08a027ys

2011 10-14
Time Monk Radio Network Interviews Presents:
Paul C Muir on TMRN Radio

Orbs/Orb Fulgurite Theory ~ Initiation/Shamanism ~
Energy Healing/remote healing-viewing ~ Pre-history/Ancient cultures & other mysteries

http://www.lulu.com/spotlight/wookiepaul
http://urbansurvival.com/
http://halfpasthuman.com/
http://webbotforum.com/

See the original

The "Sunday Bazooka" Dud: Complete European Council (Lack Of) Conclusions... And Libya Scapegoating

Remember this from Sarkozy on Wednesday: "If there isn't a solution by Sunday, everything is going to collapse." Well, judging by the "conclusions" just released by the European Council, everything is about to collapse, because the only "solution" reached is the following: "The death of Muammar Gaddafi marks the end of an era of despotism and repression from which the Libyan people have suffered for too long. Today Libya can turn a page in its history, pursue national reconciliation, and

Sunday, October 23, 2011

Stock World Weekly: Fear and Loathing in the Eurozone

Stock World Weekly: Fear and Loathing in the Eurozone
(Excerpt from the Week Ahead section)

Late Thursday afternoon, Jon Hilsenrath of the Wall Street Journal, a well-known sounding board for Bernanke when he wants to give signals to the markets, reported “Federal Reserve officials are starting to build a case for a new program of buying mortgage-backed securities to boost the ailing economy, though they appear unlikely to move swiftly.” (Fed Is Poised for More Easing)
This

Watch Merkozy Cracking Up Following Question If Italy Can Implement Reforms

Even our non-polyglot readers will have zero problems understanding the response (in French) by Merkozy, when asked during the press conference, whether Italy, which has the second largest debt load in Europe at $2.2 trillion and inches behind German, will succeed in implementing promised 'reforms.' The wholesale laughter 19 seconds in the the clip, by not only the entire audience, but by Merkel and Sarkozy pretty much explains what the "next steps" in Europe are as the continent has now

Hi, My Name Is Europe...And This Is What Happens When My 12-Step Program Fails

Unaccustomed as we are to discussing the American Psychological Association's 12-Steps to recovery, Credit Suisse have produced a clarifying reduced set that enables us to better judge the road being taken by the heterogeneous set of deaf-dumb-and-blind monkeys currently 'solving' the European addiction issues. The critical underpinning, that we have tirelessly brought to the public's attention, is a fear that the illustrious leadership of our world are not even grappling with the real

Dalio: "There Are No More Tools In The Tool Kit" - Complete Charlie Rose Transcript With The Head Of The World's Biggest Hedge Fund

When it comes to reading the world's "tea leaves", few are as capable as Ray Dalio, head of the world's biggest (macro) hedge fund, Bridgewater Associates. So when none other than Ray tells PBS' Charlie Rose that "there are no more tools in the tool kit" of fiscal and monetary policy to help America kick the can down the road, perhaps it would behoove the respective authorities to sit down and listen. Or not... and just to buy S&P futures in hopes that record career risk is big enough to

Navigating Through SilverGoldSilver.com

http://www.youtube.com/v/YjmbG993IbA?version=3&f=user_uploads&app=youtube_gdata

This video is to educate new users on the functionality of this site and how to better navigate through it..

See the original video here:

Navigating Through

Guest Post: The European Financial Crisis In One Graphic: The Dominoes Of Debt

Submitted by Charles Hugh Smith from Of Two Minds
The European Financial Crisis in One Graphic: The Dominoes of Debt
The dominoes of debt are toppling in Europe, and there is no way to stop the forces of financial gravity.
After 19 months of denial, propaganda and phony fixes, the political and finance leaders of the European Union are claiming a "comprehensive solution" will be presented by Wednesday, October 26-- or maybe by the G20 meeting on November 3, or maybe on Christmas, when

EURUSD Opens Lower

Hardly the apocalypse scenario that the G20 and Nicholas Sarkozy predicted, but certainly not a ringing endorsement of European cohesion and stability. If this melts up in the Sunday futures session, we fully expect it to be due to ongoing FX repatriation by French banks.

Drifting lower:

See the original article here:

EURUSD Opens

Europe Goes Full Bailout Retard: EFSF Rescue Capital To Be Officially Double-Counted

Europe has officially entered the Tropic Thunder zone, where one, forget one thousand , monkeys armed with one simple solar-powered calculator, can come up with a better plan than (JP Morgan-advised) Europe. Because as we pointed out on Thursday, "nothing changes the fact that with €100 billion set aside for bank recaps, a woefully low number and one which will do nothing to assure investors that banks have sufficient capital, there is still not enough cash to "guarantee" all

Woodoggie! It's GIABO dog!

http://www.youtube.com/v/ui8QB-KIL3s?version=3&f=user_uploads&app=youtube_gdata

http://maxkeiser.com
You've seen Riot Dog in Syntagma Square, here Max Keiser introduces Woodoggie, GIABO dog!

See the original video here:

Woodoggie! It's GIABO