The much anticipated press conference between Merkel and Barroso, hence Barkel, in which nothing of any substance will be announced, has begun. Rolling headlines as we get them:
MERKEL SAYS WE NEED MORE EUROPE, NOT LESS IN EURO-ZONE (sounds familiar)
MERKEL SAYS WILL DISCUSS EUROPEAN SUPERVISIONS OF BANKS AT EU SUMMIT, BANKING SUPERVISION IS A MID-TERM GOAL
BARROSO SAYS WILL PUSH FOR BANKING UNION AT THE COMING SUMMIT
MERKEL SAYS EU NEEDS ANSWERS SOON ON POLITICAL UNION
MERKEL SAYS
Monday, June 4, 2012
When Macro Meets Micro
The battle between rising profits & low equity valuations and the major macro-economic issues facing the world just won't go away. Michael Cembalest, JPMorgan's CIO, has been underweight equities YTD and remains so as he sees the Squid (some of the worst macro-economic imbalances on record) will beat the Whale (rising corporate profits, the lowest equity valuation multiple in decades, and a 50-year high in corporate cash balances) as he sees again and again that as soon as periods of
Brussels... We Have A Problem
The following chart from Ray Dalio's Bridgewater probably explains why the words "funding gap" (or "math") will never be uttered by any Eurocrat as that would mean the jig is up. It is also quite self-explanatory: it simply presents visually all that ZH and others have been saying for years.
And to think Europe already spent €2 trillion in bailout cash achieving... nothing
See the original article here:
Brussels... We Have A
And to think Europe already spent €2 trillion in bailout cash achieving... nothing
See the original article here:
Brussels... We Have A
Banks And The "Whole Democracy Thing" In 90 Seconds Or Less
90 seconds that describes the sad reality of US banking and politics - in Dr.Seuss style prose.
"Now cabbies and crop-pickers will pick up the slack; your taxes will bring the bankers right back;
where we'll keep spreading our good news, of deregulation and free market views - 'We know what we're doing, just stop with the rules!'"
"Now we're buying both sides to do our good bidding; That whole Democracy thing? Surely You're Kidding"
See the original article
"Now cabbies and crop-pickers will pick up the slack; your taxes will bring the bankers right back;
where we'll keep spreading our good news, of deregulation and free market views - 'We know what we're doing, just stop with the rules!'"
"Now we're buying both sides to do our good bidding; That whole Democracy thing? Surely You're Kidding"
See the original article
Progressive American Think Tank Begs Bernanke To Bail Out Spain
It's one thing for liberals to demand one group of Americans pay for another group of Americans, with a third group's money of course (until it runs out), but when a progressive think tank actually has the temerity to tell Bernanke that Europe is not socialist enough, and thus needs liberal US support, that's when things just get plain old silly. Which incidentally, is precisely what the progressive brains of Mark Weisbrot and Dean Baker, co-directors of the liberal Center for Economic and
Unnatural Disasters: Jobs, Wages, And Savings
This article originally appeared on the Daily Capitalist.
The U.S. recovery appears to be tracking a similar pattern of the past three years, in which the economy gains steam during the winter only to run down in the spring and summer. But the situation this time is puzzling, given that there hasn't been a gas-price spike—prices instead have fallen--or a disaster, such as last year's Japanese earthquake and tsunami.
The above comment is from the Wall Street Journal's story on
The U.S. recovery appears to be tracking a similar pattern of the past three years, in which the economy gains steam during the winter only to run down in the spring and summer. But the situation this time is puzzling, given that there hasn't been a gas-price spike—prices instead have fallen--or a disaster, such as last year's Japanese earthquake and tsunami.
The above comment is from the Wall Street Journal's story on
Guest Post: A Central Bank Running Suicide? SNB Prints At Pace Not Seen Since EUR/CHF Parity In August 2011
Submitted by George Dorgan
A Central Bank Running Suicide? SNB Prints At Pace Not Seen Since EUR/CHF Parity In August 2011
The most recent money supply data from the Swiss National Bank (SNB) has shown increases of huge amounts. As compared with its loss of 19 bln. francs in 2010 (3% percent of the Swiss GDP), the central bank printed tremendous 17.3 bln. in the week ending in June 1st and 13 bln. in the one ending in May 25th.
These numbers were not seen since August 2011 when the
A Central Bank Running Suicide? SNB Prints At Pace Not Seen Since EUR/CHF Parity In August 2011
The most recent money supply data from the Swiss National Bank (SNB) has shown increases of huge amounts. As compared with its loss of 19 bln. francs in 2010 (3% percent of the Swiss GDP), the central bank printed tremendous 17.3 bln. in the week ending in June 1st and 13 bln. in the one ending in May 25th.
These numbers were not seen since August 2011 when the
David Morgan-Precious Metals Special Rally Report
http://www.youtube.com/v/xXx79n4XraE?version=3&f=user_uploads&app=youtube_gdata
FOLLOW DAVID ON FACEBOOK:
https://www.facebook.com/TheMorganReport
http://Silver-Investor.com
http://financialsurvivalnetwork.com/
See the original video here:
David Morgan-Precious Metals Special Rally
FOLLOW DAVID ON FACEBOOK:
https://www.facebook.com/TheMorganReport
http://Silver-Investor.com
http://financialsurvivalnetwork.com/
See the original video here:
David Morgan-Precious Metals Special Rally
Reality Bites - A Look Behind the Dismal Economic Data
http://www.youtube.com/v/f3HNIagO9a0?version=3&f=user_uploads&app=youtube_gdata
The Schiff Report (6/1/2012)
Order my new book The Real Crash at www.tinyurl.com/RealCrash
Follow me on Twitter @SchiffRadio
Friend me on Facebook.com/PeterSchiff
See the original video here:
Reality Bites - A Look Behind the Dismal Economic
The Schiff Report (6/1/2012)
Order my new book The Real Crash at www.tinyurl.com/RealCrash
Follow me on Twitter @SchiffRadio
Friend me on Facebook.com/PeterSchiff
See the original video here:
Reality Bites - A Look Behind the Dismal Economic
Robert Prechter and James Turk on inflation vs deflation
http://www.youtube.com/v/aVm-aVA-kU8?version=3&f=user_uploads&app=youtube_gdata
Robert Prechter of Elliott Wave International discusses inflation and deflation with GoldMoney's James Turk in this podcast. They also talk about GoldMoney, and the advantages of owning allocated gold stored at secure vaults.
Both men differ on the question of whether or not inflation (defined as a rising price level) or deflation (when prices fall) will be the dominant economic trend in the years
Robert Prechter of Elliott Wave International discusses inflation and deflation with GoldMoney's James Turk in this podcast. They also talk about GoldMoney, and the advantages of owning allocated gold stored at secure vaults.
Both men differ on the question of whether or not inflation (defined as a rising price level) or deflation (when prices fall) will be the dominant economic trend in the years
In gold we trust?
http://www.youtube.com/v/6GrI8rywa9s?version=3&f=user_uploads&app=youtube_gdata
Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. Matthew Bishop and Michael Green discuss their new book 'In Gold We Trust?' with the GoldMoney Foundation's Dominic Frisby. The three discuss what factors are driving the bull market in gold, and whether or not a return to some form of gold standard is desirable. Matthew Bishop is New York bureau chief at The Economist, while Michael
Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. Matthew Bishop and Michael Green discuss their new book 'In Gold We Trust?' with the GoldMoney Foundation's Dominic Frisby. The three discuss what factors are driving the bull market in gold, and whether or not a return to some form of gold standard is desirable. Matthew Bishop is New York bureau chief at The Economist, while Michael
Europe Will Continue to Pressure Metals: Peter Hug of Kitco Metals
http://www.youtube.com/v/DBdMAbIUdxI?version=3&f=user_uploads&app=youtube_gdata
All eyes on Europe in this week's "For Pete's Sake" as Peter Hug of Kitco Metals takes us through the escalating debt crisis and conflict within the European Union. What effect will the fate of Spain, Italy and Greece have on global markets, and the metals complex in particular? What is likely to happen if Greece exits? Watch to find out! Kitco News, May 29, 2012.
See the original video
All eyes on Europe in this week's "For Pete's Sake" as Peter Hug of Kitco Metals takes us through the escalating debt crisis and conflict within the European Union. What effect will the fate of Spain, Italy and Greece have on global markets, and the metals complex in particular? What is likely to happen if Greece exits? Watch to find out! Kitco News, May 29, 2012.
See the original video
Mining Minutes Weekly Wrap-Up w/ Metanor Resources (TSXV: MTO.V - OTC: MEAOF.PK)
http://www.youtube.com/v/nDQ7iWkAwE8?version=3&f=user_uploads&app=youtube_gdata
Metanor Resources' (TSXV: MTO.V/ OTC: MEAOF.PK) Vice-President Ron Perry joins us for this week's "Mining Minutes Wrap-Up" to discuss Metanor's recent progress, and as always, reporter Alex Letourneau takes us through the week in mining news. Kitco News, May 31, 2012.
See the original video here:
Mining Minutes Weekly Wrap-Up w/ Metanor Resources (TSXV: MTO.V - OTC:
Metanor Resources' (TSXV: MTO.V/ OTC: MEAOF.PK) Vice-President Ron Perry joins us for this week's "Mining Minutes Wrap-Up" to discuss Metanor's recent progress, and as always, reporter Alex Letourneau takes us through the week in mining news. Kitco News, May 31, 2012.
See the original video here:
Mining Minutes Weekly Wrap-Up w/ Metanor Resources (TSXV: MTO.V - OTC:
Rebound in Gold Mid-Summer: Brien Lundin (New Orleans Investment Conference/ Gold Newsletter)
http://www.youtube.com/v/IowIFt63mzg?version=3&f=user_uploads&app=youtube_gdata
Brien Lundin, founder of the New Orleans Investment Conference and publisher of "Gold Newsletter", joins Kitco News to discuss the patterns he sees in the gold market, and why we can expect a rebound in gold mid-summer. For Kitco News, Daniela Cambone reports. June 4, 2012.
See the original video here:
Rebound in Gold Mid-Summer: Brien Lundin (New Orleans Investment Conference/ Gold
Brien Lundin, founder of the New Orleans Investment Conference and publisher of "Gold Newsletter", joins Kitco News to discuss the patterns he sees in the gold market, and why we can expect a rebound in gold mid-summer. For Kitco News, Daniela Cambone reports. June 4, 2012.
See the original video here:
Rebound in Gold Mid-Summer: Brien Lundin (New Orleans Investment Conference/ Gold
A Spexit? Grexit? Too Big To Bail Out! - RESET w/ Vince Lanci (FMX Connect)
http://www.youtube.com/v/tAWZx1fV88c?version=3&f=user_uploads&app=youtube_gdata
Will Spain and Greece exit the Euro? Aren't they too big to bail-out? We continue our in-depth discussion of the European debt crisis in this week's episode of "RESET" with Vince Lanci. We discuss the possible "Spexit" and "Grexit", as well as other issues at play. Stay tuned for our on-going coverage of the E.U. situation and what it means for gold markets. Kitco News, June 4, 2012.
See the original
Will Spain and Greece exit the Euro? Aren't they too big to bail-out? We continue our in-depth discussion of the European debt crisis in this week's episode of "RESET" with Vince Lanci. We discuss the possible "Spexit" and "Grexit", as well as other issues at play. Stay tuned for our on-going coverage of the E.U. situation and what it means for gold markets. Kitco News, June 4, 2012.
See the original
'Predictions & Timing' - YOUR Q's ANSWERED with Bix Weir [Category 1 of 6]
http://www.youtube.com/v/KKFYhJRIZZ0?version=3&f=user_uploads&app=youtube_gdata
June 3, 2012
Greetings friends. Here's the first installment of 'Your Questions Answered' with Bix Weir' of RoadtoRoota.com. Bix and I carefully went through all of the 150 + question submissions and did our best to group them into six different categories in order to answer as many topics as possible. Covered in this interview (1A) is the first category: 1. 'Predictions & Timing'. Part 1-B also
June 3, 2012
Greetings friends. Here's the first installment of 'Your Questions Answered' with Bix Weir' of RoadtoRoota.com. Bix and I carefully went through all of the 150 + question submissions and did our best to group them into six different categories in order to answer as many topics as possible. Covered in this interview (1A) is the first category: 1. 'Predictions & Timing'. Part 1-B also
'Silver & Gold' - YOUR Q's ANSWERED with Bix Weir [Category 2 of 6]
http://www.youtube.com/v/s67OKH1_KlM?version=3&f=user_uploads&app=youtube_gdata
June 3, 2012
Greetings friends. Here's the first installment of 'Your Questions Answered' with Bix Weir' of RoadtoRoota.com. Bix and I carefully went through all of the 150 + question submissions and did our best to group them into six different categories in order to answer as many topics as possible. Covered in this interview is the second category: 'Silver & Gold'. The remaining categories coming
June 3, 2012
Greetings friends. Here's the first installment of 'Your Questions Answered' with Bix Weir' of RoadtoRoota.com. Bix and I carefully went through all of the 150 + question submissions and did our best to group them into six different categories in order to answer as many topics as possible. Covered in this interview is the second category: 'Silver & Gold'. The remaining categories coming
John Embry Elaborates on the Counterintuitive Moves in the Gold 'Market'
Author:
Ed Steer
Yesterday in Gold and Silver
Ed_GSDMay 31, 2012 10:50am GMT
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The gold price declined about ten bucks by noon Hong Kong time during their Wednesday trading session. From there, it recovered all that loss by shortly before 1:00 p.m. in London trading.Then a sell-off began that took gold down to its low of the day...$1,530.10 spot...which was around 9:40 a.m.
Ed Steer
Yesterday in Gold and Silver
Ed_GSDMay 31, 2012 10:50am GMT
The gold price declined about ten bucks by noon Hong Kong time during their Wednesday trading session. From there, it recovered all that loss by shortly before 1:00 p.m. in London trading.Then a sell-off began that took gold down to its low of the day...$1,530.10 spot...which was around 9:40 a.m.
Mocking Warren Buffett: David Einhorn Trashes Cash and Implicitly Touts Gold
Author:
Ed Steer
Yesterday in Gold and Silver
Ed_GSDJune 1, 2012 11:25am GMT
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Print
The gold price didn't do much during the Thursday trading session. Every time the price stuck its nose above the $1,570 spot price level, there was a helpful not-for-profit seller at the ready...and it was particularly noticeable at the 3:00 p.m. BST London gold fix.Gold's third attempt to break
Ed Steer
Yesterday in Gold and Silver
Ed_GSDJune 1, 2012 11:25am GMT
The gold price didn't do much during the Thursday trading session. Every time the price stuck its nose above the $1,570 spot price level, there was a helpful not-for-profit seller at the ready...and it was particularly noticeable at the 3:00 p.m. BST London gold fix.Gold's third attempt to break
Here is Why Gold is Soaring and Stocks Are Tanking: Rick Rule
Author:
Ed Steer
Yesterday in Gold and Silver
Ed_GSDJune 2, 2012 2:49pm GMT
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The gold price fell and rose about ten bucks between the Far East open and the London open...and then lost that ten spot going into the jobs report release at 8:30 a.m. Eastern time...and the rest, as they say, is history. By 10:15 a.m. in New York, gold had risen over $70 from its New York
Ed Steer
Yesterday in Gold and Silver
Ed_GSDJune 2, 2012 2:49pm GMT
The gold price fell and rose about ten bucks between the Far East open and the London open...and then lost that ten spot going into the jobs report release at 8:30 a.m. Eastern time...and the rest, as they say, is history. By 10:15 a.m. in New York, gold had risen over $70 from its New York
Wednesday, May 30, 2012
Mercenary Geologist
http://www.youtube.com/v/13dhRfacpXo?version=3&f=user_uploads&app=youtube_gdata
I speak with the mercenary geologist Mickey Fulp about gold, silver, water, and education. The article written by Mickey Fulp regarding the fundamentals of copper is here http://goldgeologist.com/mercenary_musings/musing-120528-Musings-on-the-Long-Term-Fundamentals-of-the-Copper-Market.pdf . Thanks for watching!
See the original video here:
Mercenary
I speak with the mercenary geologist Mickey Fulp about gold, silver, water, and education. The article written by Mickey Fulp regarding the fundamentals of copper is here http://goldgeologist.com/mercenary_musings/musing-120528-Musings-on-the-Long-Term-Fundamentals-of-the-Copper-Market.pdf . Thanks for watching!
See the original video here:
Mercenary
Your Money Has Been Devalued by 2/3's, Relative to Gold - Greg Weldon
http://www.youtube.com/v/jaNdg4XTEOE?version=3&f=user_uploads&app=youtube_gdata
http://bit.ly/RecoveryRealityCheck For the complete audio set from the conference, available in CD and mp3 format.
Casey Research's Chief Metals and Mining Investment Strategist, Louis James sits down with Greg Weldon, CEO/President of Weldon Financial, at the latest Casey Research Conference, "Recovery Reality Check" in Weston, Florida.
Subscribe to Casey's Daily for FREE:
http://bit.ly/RecoveryRealityCheck For the complete audio set from the conference, available in CD and mp3 format.
Casey Research's Chief Metals and Mining Investment Strategist, Louis James sits down with Greg Weldon, CEO/President of Weldon Financial, at the latest Casey Research Conference, "Recovery Reality Check" in Weston, Florida.
Subscribe to Casey's Daily for FREE:
FaceBerg Diverges From Founder Age
A $27 handle... that is all. Just two brief (billionaire-list-demoting) weeks ago, Mark Zuckerberg passed 28 years old, any guesses where the FB stock price will be when he passes 29?
FB Option-Land
Open-Interest was over 5 to 4 biased to Puts at last night's close and today's volume is over 6 to 5 biased to Puts - with the June $30 Calls most active (against the June $30 Puts yesterday). 365k lots yesterday compares with 170k lots so far today.
See the original article
FB Option-Land
Open-Interest was over 5 to 4 biased to Puts at last night's close and today's volume is over 6 to 5 biased to Puts - with the June $30 Calls most active (against the June $30 Puts yesterday). 365k lots yesterday compares with 170k lots so far today.
See the original article
The Facebook Backlash Begins
While it may come as no surprise to market-watchers, the market for over-priced internet IPOs seems to have become a little soft. Bloomberg is reporting that Kayak, which first filed to go public in November 2010 and put its plans on hold earlier this year because of choppy market conditions, is delaying its IPO. The online-travel service roadshow was just postponed and guess who the lead bank on Kayak's IPO was - yep, Morgan Stanley.
See the original article here:
The Facebook
See the original article here:
The Facebook
Gold Rips And Stocks Dip As Risk Assets Recouple To Reality
If we had a penny for every equity rally away from credit reality that converged back to credit's less-hopiness, we would now have made 5 pennies in the last 6 trading days. We pointed out last night that equities surged into the close on small average trade size as credit remained far less sanguine and the now-ubiquitous open in Europe started the reversion as stocks fell rapidly, below Friday's close - tracking back with high-yield credit's deterioration. HYG gave up yesterday's gains
Guest Post: Enter The Swan
Submitted by John Aziz of Azizonomics
Enter The Swan
Charles Hugh Smith (along with many, many, many others) thinks there may be a great decoupling as the world sinks deeper into the mire, and that the dollar could be set to benefit:
This “safe haven” status can be discerned in the strengthening U.S. dollar. Despite a central bank (The Federal Reserve) with an avowed goal of weakening the nation’s currency (the U.S. dollar), the USD has been in an long-term uptrend for a
Enter The Swan
Charles Hugh Smith (along with many, many, many others) thinks there may be a great decoupling as the world sinks deeper into the mire, and that the dollar could be set to benefit:
This “safe haven” status can be discerned in the strengthening U.S. dollar. Despite a central bank (The Federal Reserve) with an avowed goal of weakening the nation’s currency (the U.S. dollar), the USD has been in an long-term uptrend for a
Spain Is The Most 'Over-Banked' Nation In Europe
Between headlines of Bankia's demise and the growing deposit outflows from Spanish banks, perhaps the market is doing its job. According to the EC's Stability Report, via UBS, one measure of bank sector capacity and efficiency (population per bank branch) shows Spain in a dismal worst place with the least efficiency (or highest over-capacity). Of course, we would suspect that whatever state-funded reach-around bailout the Spanish government comes up with next will not contain a 'revert
Spain: Bankia Down, Who Is Next?
Bankia is done: at this point the only questions left are i) what will be the final bailout cost ii) who will pay for these costs, and iii) whether the bank has enough beach towels to satisfy the onslaught of manic Spaniards desperate to hand over their €300 euros to the insolvent bank in exchange for some Spiderman-embossed linen. Oh, there is one more question: who is next.
Now, as we showed earlier today, in the aggregate the answer is simple: everyone. Because as JPM said "if a
Now, as we showed earlier today, in the aggregate the answer is simple: everyone. Because as JPM said "if a
End Of The Road Film - Full Version Link
http://www.youtube.com/v/mx4xogHI-kQ?version=3&f=user_uploads&app=youtube_gdata
The new film "End Of The Road" has just been released for public viewing, featuring GoldSilver.com CEO Mike Maloney alongside Peter Schiff, Jim Rickards, Jim Puplava, James Turk, Eric Sprott and more. The link for viewing this excellent movie is right here: http://100thmonkeyfilms.com/endoftheroad/watch/
This film was not made by GoldSilver.com, we are helping to spread the word of its release for
The new film "End Of The Road" has just been released for public viewing, featuring GoldSilver.com CEO Mike Maloney alongside Peter Schiff, Jim Rickards, Jim Puplava, James Turk, Eric Sprott and more. The link for viewing this excellent movie is right here: http://100thmonkeyfilms.com/endoftheroad/watch/
This film was not made by GoldSilver.com, we are helping to spread the word of its release for
Gerald Celente - Tommy Schnurmacher Show - May 29, 2012
http://www.youtube.com/v/fvtoBxZtZF0?version=3&f=user_uploads&app=youtube_gdata
Go to http://geraldcelentechannel.blogspot.com for more
See the original video here:
Gerald Celente - Tommy Schnurmacher Show - May 29,
Go to http://geraldcelentechannel.blogspot.com for more
See the original video here:
Gerald Celente - Tommy Schnurmacher Show - May 29,
Gold Bar Demand in China Surged 51% to 213.9 Tonnes in 2011
Author:
Ed Steer
Yesterday in Gold and Silver
Ed_GSDMay 29, 2012 11:15am GMT
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With the U.S. shut tight for Memorial Day yesterday, there wasn't much excitement in the precious metals arena. The gold price traded sideways until just before 2:00 p.m. Hong Kong time on Monday afternoon...and then rallied a bit heading into the London 8:00 a.m. open. But just before that
Ed Steer
Yesterday in Gold and Silver
Ed_GSDMay 29, 2012 11:15am GMT
With the U.S. shut tight for Memorial Day yesterday, there wasn't much excitement in the precious metals arena. The gold price traded sideways until just before 2:00 p.m. Hong Kong time on Monday afternoon...and then rallied a bit heading into the London 8:00 a.m. open. But just before that
If Gold is Collateral For Their Bailouts, Nations May Want a Higher Gold Price
Author:
Ed Steer
Yesterday in Gold and Silver
Ed_GSDMay 30, 2012 11:21am GMT
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Print
Gold didn't do much of anything in Far East trading...and what little gains there were, disappeared during the morning trading session in London.But once the Comex opened, gold worked its way a bit higher... with the high of the day coming shortly after 10:00 a.m. in New York...which may have been
Ed Steer
Yesterday in Gold and Silver
Ed_GSDMay 30, 2012 11:21am GMT
Gold didn't do much of anything in Far East trading...and what little gains there were, disappeared during the morning trading session in London.But once the Comex opened, gold worked its way a bit higher... with the high of the day coming shortly after 10:00 a.m. in New York...which may have been
Tuesday, May 29, 2012
SoCiaL MeDiA CoNFiDeNTiaL...
Virtual Beings in spaceConnect with a virtual faceFloating through timeA virtual crimeHumanity now out of place
The Limerick King
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The Ancients are running in fearA banking collapse could be nearThey're stretching their loinsWithdrawing their coinsWhile trying to shield their own rears
The Limerick King
See the original article here:
SoCiaL MeDiA
The Limerick King
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The Ancients are running in fearA banking collapse could be nearThey're stretching their loinsWithdrawing their coinsWhile trying to shield their own rears
The Limerick King
See the original article here:
SoCiaL MeDiA
Monday, May 28, 2012
To serve and protect!
http://www.youtube.com/v/NYw7C58RPso?version=3&f=user_uploads&app=youtube_gdata
Remembering those who have served and protected this country in the armed forces on Memorial Day 2012. Thanks for watching!
See the original video here:
To serve and
Remembering those who have served and protected this country in the armed forces on Memorial Day 2012. Thanks for watching!
See the original video here:
To serve and
Silver Update 5/28/12 Capital Controls
http://www.youtube.com/v/SLzqeegRgGg?version=3&f=user_uploads&app=youtube_gdata
Software Provided With Permission By Netdania.com http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx
Capital Controls Coming to Greece and Switzerland http://www.zerohedge.com/contributed/2012-05-28/capital-controls-coming-greece-and-switzerland
The Somali American Remittance Dilemma
Software Provided With Permission By Netdania.com http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx
Capital Controls Coming to Greece and Switzerland http://www.zerohedge.com/contributed/2012-05-28/capital-controls-coming-greece-and-switzerland
The Somali American Remittance Dilemma
Key Events In The Shortened Week
Despite closed US stock markets today, FaceBook stock still managed to decline, while Europe dipped yet once again on all the same fears: Greece, Spain, bank runs, contagion, etc. Shortly Europe will reopen, this time to be followed by the US stock market as well. While in turn will direct market participants' attention to a shortened week full of economic data, which as Goldman says, will likely shape the direction of markets for the near future. US payrolls and global PMI/ISM numbers are
Merkel Strikes Back Against Hollande
Some thought that German chancellor Angela Merkel would quietly take the abuse heaped on her, and her program of "austerity" (or deleveraging as we call it, but that just does not have quite the negative connotations of a word that has become symbolic for all that is wrong with a massively overlevered world) by the new French president and Germany's increasingly more insolvent "partners", without much of a fuss.
That changed over the weekend, following a Spiegel article titled "Merkel
That changed over the weekend, following a Spiegel article titled "Merkel
Bankia Parent Revises 2011 "Profit" Of €41 Million to €3.3 Billion Loss
It is rather amazing what one finds when a company which previously had allegedly posted a profit of €41 million, somehow becomes insolvent, needs a nationalization to avoid a full out liquidation, and gets bailed out by the state. One of the first things one finds is that the profit pitched to that particular class of gullible idiots, known as shareholders, was an outright lie. And yes, on that one very rare occasion when an auditor refuses to sign off on a bank's financials, in this
Capital Controls Coming to Greece and Switzerland
Greece
.
A few weeks ago I wrote about my conversation with a friend in Athens (Link). At the time, he believed that the June 17 election would bring a different result than the May 6 election disaster - the catalyst for change being the fear of leaving the Euro. So far he has been proven right. So I called to get an update.
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BK – It seems you might be right. The polls from Greece this weekend have given the European markets a lift today. Do you still believe that the centrist
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A few weeks ago I wrote about my conversation with a friend in Athens (Link). At the time, he believed that the June 17 election would bring a different result than the May 6 election disaster - the catalyst for change being the fear of leaving the Euro. So far he has been proven right. So I called to get an update.
.
.
BK – It seems you might be right. The polls from Greece this weekend have given the European markets a lift today. Do you still believe that the centrist
Guest Post: The National Attack Authorization Act?
Submitted by John Aziz of Azizonomics
The National Attack Authorization Act?
We all know that the National Defense Authorization Act (NDAA) signed by President Obama on New Year’s Eve contained a now-struck-down provision to authorise the indefinite detention of American citizens on US soil.
But did you know that the NDAA also paves the way for war with Iran?
From Dennis Kucinich:
Section (6) rejects any United States policy that would rely on efforts to contain a nuclear
The National Attack Authorization Act?
We all know that the National Defense Authorization Act (NDAA) signed by President Obama on New Year’s Eve contained a now-struck-down provision to authorise the indefinite detention of American citizens on US soil.
But did you know that the NDAA also paves the way for war with Iran?
From Dennis Kucinich:
Section (6) rejects any United States policy that would rely on efforts to contain a nuclear
As One Of UK's Biggest Refineries Prepares For Shutdown, Drivers Concerned About Gas Price Spike
Back in 2007, BP sold its Coryton refinery, one of the largest in the UK, to Swiss refiner PetroPlus for $1.4 billion. Fast forward 5 years later where we find that shortly after PetroPlus filed for bankruptcy, and was forced to proceed with a firesale of its assets, the European end demand market is so abysmal that a buyer could not be found for even a 30% off firesale. As Reuters reports, following a failure to sell Coryton for the low, low, price of $1 billion, the refinery, in dire
Greece Jumps Most In 8 Months As Rest Of Peripheral Europe Slumps
The Greek equity index jumped almost 7% today, its biggest rise in 8 months, on the back of absolutely no 'real' change whatsoever (Greek opinion poll results change by the second and the stability fund payments were already known) and indeed a worsening situation across most of the rest of Europe (ex-Germany) - with chatter of growing bank runs and Bankia's epic demise. Of course, one needs to bear in mind the ASE pop is off 22-year lows before sounding that all-clear here as Bund yields
Facebook Slide Continues Even As US Market Closed
The market may be closed but that does not mean long, well, short-suffering FadeBoon longs get a respite: courtesy of FB's German tracking stock, it appears that the stock traded down another 1.7% during today's trading session. This shift (adjusted for the EURUSD) implies a 2.7% drop from Friday's USD day-session close and extends the after-hours rout that occurred. And in even worse news for FB bulls, rumor has it Europe may open tomorrow again.
The EUR24.935 close today (-1.7% in
The EUR24.935 close today (-1.7% in
Spiegel Interviews Tsipras: "If Greece Is Destroyed, It Would Be Merkel's Fault"
The person who has caused global stock markets so much consternation by daring to play chicken with Germany until the bitter end conducts a no holds barred interview with Germany's Spiegel. There is little love lost between the Syriza leader and the Germans, who were quite surprised to find a political leader who is willing to play blink with Germany, with the ECB, and the developed world until the very end, or June 17, whichever comes sooner. Tsipras' bottom line: "We're trying to
Unelected European President Holiday Humor
For an unexpected dose of holiday humor, and a surprisingly spot-on prediction of the future of Europe's monetary system, we go to none other than unelected head of Europe, Herman van Rompuy himself.
Change is the only way forward. If we want to shape our future we must embrace change. This is true for all European countries #cyprus
— Herman Van Rompuy (@euHvR) May 28, 2012
And embrace change we must (not to mention stash and hoard just as Kyle Bass has done with nickels), preferably
Change is the only way forward. If we want to shape our future we must embrace change. This is true for all European countries #cyprus
— Herman Van Rompuy (@euHvR) May 28, 2012
And embrace change we must (not to mention stash and hoard just as Kyle Bass has done with nickels), preferably
Hey Banksters: We Are Fully Awake
http://www.youtube.com/v/tEATp-xM7rU?version=3&f=user_uploads&app=youtube_gdata
Memorial Day 2012: To the International Banksters, We the people know your crimes. We mourn the fallen heroes you took from us through your contrived wars. But we celebrate the heroes who are still with us. Heroes like Dr. Ron Paul who have the courage to stand against you. And like Dr. Paul, we the people stand against you - We stand for Liberty. We are fully awake.
★::::RON PAUL
Memorial Day 2012: To the International Banksters, We the people know your crimes. We mourn the fallen heroes you took from us through your contrived wars. But we celebrate the heroes who are still with us. Heroes like Dr. Ron Paul who have the courage to stand against you. And like Dr. Paul, we the people stand against you - We stand for Liberty. We are fully awake.
★::::RON PAUL
Frontrunning: May 28
Merkel Prepares to Strike Back Against Hollande (Spiegel)
China to subsidise vehicle buyers in rural areas (Reuters) - what could possibly go wrong
Bankia’s Writedowns Cast Doubts on Spain’s Bank Estimates (Bloomberg) - unpossible, they never lie
Shares in Spain's Bankia plunge on bailout plan (AP) - oh so that's what happens when a bank is bailed out.
SNB’s Jordan Says Capital Controls Among Possible Moves (Bloomberg)
Greeks Furious Over Harsh Words from IMF and Germany
China to subsidise vehicle buyers in rural areas (Reuters) - what could possibly go wrong
Bankia’s Writedowns Cast Doubts on Spain’s Bank Estimates (Bloomberg) - unpossible, they never lie
Shares in Spain's Bankia plunge on bailout plan (AP) - oh so that's what happens when a bank is bailed out.
SNB’s Jordan Says Capital Controls Among Possible Moves (Bloomberg)
Greeks Furious Over Harsh Words from IMF and Germany
Gold Bar Demand in China Surged 51% to 213.9 Tons In 2011
From GoldCore
Gold Bar Demand in China Surged 51% to 213.9 Tons In 2011
Gold’s London AM fix this morning was USD 1,579.00, EUR 1,255.67, and GBP 1,006.63 per ounce. Friday's AM fix was USD 1,560.50, EUR 1,240.66, and GBP 996.04 per ounce.
Silver is trading at $28.65/oz, €22.86/oz and £18.33/oz. Platinum is trading at $1,442.50/oz, palladium at $592.60/oz and rhodium at $1,275/oz.
Gold rose $13.30 or 0.85% in New York on Friday and closed at $1,572.80/oz. The higher close Friday
Gold Bar Demand in China Surged 51% to 213.9 Tons In 2011
Gold’s London AM fix this morning was USD 1,579.00, EUR 1,255.67, and GBP 1,006.63 per ounce. Friday's AM fix was USD 1,560.50, EUR 1,240.66, and GBP 996.04 per ounce.
Silver is trading at $28.65/oz, €22.86/oz and £18.33/oz. Platinum is trading at $1,442.50/oz, palladium at $592.60/oz and rhodium at $1,275/oz.
Gold rose $13.30 or 0.85% in New York on Friday and closed at $1,572.80/oz. The higher close Friday
Spain-AAA Spread Just Broke 450 bps: LCH Margin Hike Alert
Why is 450 bps important? That is the threshold (as explained before here and here) beyond which LCH goes all medieval on one's bond holdings.
Either the ECB gets involved here, and fast, and activates the SMP emergency bid, or else the central bank is sending a very loud signal to the country which is now betting Draghi will keep quiet as he accepts Spanish bonds in repo pledged by Bankia.
A signal which is bad to quite bad for those in the cheap seats.
See the original article
Either the ECB gets involved here, and fast, and activates the SMP emergency bid, or else the central bank is sending a very loud signal to the country which is now betting Draghi will keep quiet as he accepts Spanish bonds in repo pledged by Bankia.
A signal which is bad to quite bad for those in the cheap seats.
See the original article
Start Of The Zombie Apocalypse Caught On Tape
For those who missed it, the weekend's most morbid, and harbingery, story was the official launch of the zombie apocalypse.
Per the Miami Herald:
It was a scene as creepy as a Hannibal Lecter movie.
One man was shot to death by Miami police, and another man is fighting for his life after he was attacked, and his face allegedly half eaten, by a naked man on the MacArthur Causeway off ramp Saturday, police said.
The horror began about 2 p.m. when a series of gunshots were heard on the
Per the Miami Herald:
It was a scene as creepy as a Hannibal Lecter movie.
One man was shot to death by Miami police, and another man is fighting for his life after he was attacked, and his face allegedly half eaten, by a naked man on the MacArthur Causeway off ramp Saturday, police said.
The horror began about 2 p.m. when a series of gunshots were heard on the
Guest Post: The Financial Reform: A Mayan Prophecy?
Submitted by J. Luis MartÃn is director of trumanfactor.com, originally published in El Confidencial
The Financial Reform: A Mayan prophecy?
While the Spanish government feverishly attempts to wrap up the country’s euphemistic financial system reform, the ever-expanding black holes, multiple balance-sheets restructuring with infinite amounts of public funds and reiterated calls for the need to further consolidate financial institutions seem to be setting up the stage for a
The Financial Reform: A Mayan prophecy?
While the Spanish government feverishly attempts to wrap up the country’s euphemistic financial system reform, the ever-expanding black holes, multiple balance-sheets restructuring with infinite amounts of public funds and reiterated calls for the need to further consolidate financial institutions seem to be setting up the stage for a
Sunday, May 27, 2012
Silver Update 5/27/12 Junk Silver
http://www.youtube.com/v/ls7WFLqSxLE?version=3&f=user_uploads&app=youtube_gdata
Software Provided With Permission By Netdania.com http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx
keynesian economics http://www.brotherjohnf.com/forum/Thread-keynesian-economics
Silver Update 1/28/12 Junk Silver 2 http://www.youtube.com/watch?v=6efIV-n1_nU
Tulving http://tulving.com/goldbull.html
Apmex
Software Provided With Permission By Netdania.com http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx
keynesian economics http://www.brotherjohnf.com/forum/Thread-keynesian-economics
Silver Update 1/28/12 Junk Silver 2 http://www.youtube.com/watch?v=6efIV-n1_nU
Tulving http://tulving.com/goldbull.html
Apmex
Guest Post: U.S.A. 2012: Is This What We've Become?
Submitted by Charles Hugh Smith from Of Two Minds
U.S.A. 2012: Is This What We've Become?
Incentivize victimhood, fraudulent accounting of income/collateral and gaming the system, and guess what you get? A nation of liars and thieves.
Memorial Day is traditionally a day to speak of sacrifices made in combat. Like much of the rest of life in America, it has largely become artificial, a hurried "celebration" of frenzied Memorial Day marketing that is quickly forgotten the next day.
Instead
U.S.A. 2012: Is This What We've Become?
Incentivize victimhood, fraudulent accounting of income/collateral and gaming the system, and guess what you get? A nation of liars and thieves.
Memorial Day is traditionally a day to speak of sacrifices made in combat. Like much of the rest of life in America, it has largely become artificial, a hurried "celebration" of frenzied Memorial Day marketing that is quickly forgotten the next day.
Instead
Top U.S. Government Officials Admit that Our Government Has Repeatedly Protected Drug Smugglers
From a 60 Minutes special with Mike Wallace reporting:
(Watch just the first segment, then stop and go to the next video down.)
And see this and this.
See the original article here:
Top U.S. Government Officials Admit that Our Government Has Repeatedly Protected Drug
(Watch just the first segment, then stop and go to the next video down.)
And see this and this.
See the original article here:
Top U.S. Government Officials Admit that Our Government Has Repeatedly Protected Drug
The President of the Bundesbank Lashes Out
Wolf Richter www.testosteronepit.com
Jens Weidmann, President of the German Bundesbank and member of the ECB Council, ventured into a veritable lion’s den with an interview in Le Monde, the number one liberal daily in France whose editorial bend has been supporting President François Hollande and his “growth” policies. And there, the central banker lashed out at Hollande and what he'd promised during the campaign. And he lashed out at the ECB, and at everything that smelled of a
Jens Weidmann, President of the German Bundesbank and member of the ECB Council, ventured into a veritable lion’s den with an interview in Le Monde, the number one liberal daily in France whose editorial bend has been supporting President François Hollande and his “growth” policies. And there, the central banker lashed out at Hollande and what he'd promised during the campaign. And he lashed out at the ECB, and at everything that smelled of a
After Eurovision Comes The Euroscramble: Europe's Latest "Silver Bullet", "Secret" Bail Out Plan
Mere hours after the annual European Eurovision song contest ended at a cost to the host country in the hundreds of millions, money which should have been spent productively elsewhere but wasn't while providing utterly unnecessary distraction to hundreds of millions from what is truly important, we get another stark reminder that the continent is not only broke, but that it no longer even pretends to have credible ideas about how to go about fixing itself. The latest speculation: "Secret
Guest Post: War Pigs - The Fall Of A Global Empire
Submitted by Jim Quinn from The Burning Platform
War Pigs - The Fall Of A Global Empire
We will bankrupt ourselves in the vain search for absolute security.” -Dwight D. Eisenhower
“How far can you go without destroying from within what you are trying to defend from without?” -Dwight D. Eisenhower
Generals gathered in their masses Just like witches at black masses Evil minds that plot destruction Sorcerers of deaths construction
In the fields the bodies burning As the war
War Pigs - The Fall Of A Global Empire
We will bankrupt ourselves in the vain search for absolute security.” -Dwight D. Eisenhower
“How far can you go without destroying from within what you are trying to defend from without?” -Dwight D. Eisenhower
Generals gathered in their masses Just like witches at black masses Evil minds that plot destruction Sorcerers of deaths construction
In the fields the bodies burning As the war
Complete European Calendar Of Events: May - July
There are still 3 weeks until the next so very critical Greek elections (which if we are correct, will have an outcome comparable to the first, and not result in the formation of a new government absent Diebold opening a Santorini office), meaning the power vacuum at the very top in Europe will persist, and while the market demands some clarity about something, anything, nothing is likely to be implemented by a Germany which is (rightfully, as unlike the US, Europe does not have the
If Greece Was California...
For all its rhetoric, the current situation in the Eurozone should be very familiar to most Americans: after all it is merely a Federalist organization just missing one key feature: Federalism. At least for now. Whether Europe will succeed in reversing 20 centuries of nationalist pride, a multitude of languages, religions, cultures, histories, and superficial solidarity and friendliness covering generations of broad-based enmity, blood feuds and hatred, which is precisely what will be
Pasha Roberts and Alasdair Macleod on how silver could become an alternative currency
http://www.youtube.com/v/qJFGUhmOdTM?version=3&f=user_uploads&app=youtube_gdata
Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. Pasha Roberts, producer of the Silver Circle movie, and the GoldMoney Foundation's Alasdair Macleod talk about the economic outlook and what the prospects are for silver's use as an alternative currency.
The Silver Circle is an animated fictional film centred around an economic collapse in the US and the emergence of an alternative
Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. Pasha Roberts, producer of the Silver Circle movie, and the GoldMoney Foundation's Alasdair Macleod talk about the economic outlook and what the prospects are for silver's use as an alternative currency.
The Silver Circle is an animated fictional film centred around an economic collapse in the US and the emergence of an alternative
Gerald Celente - Brian Wilson - WSPD Toledo - 24 May 2012
http://www.youtube.com/v/pyKyA0qq3Zg?version=3&f=user_uploads&app=youtube_gdata
Go to http://geraldcelentechannel.blogspot.com for more
See the original video here:
Gerald Celente - Brian Wilson - WSPD Toledo - 24 May
Go to http://geraldcelentechannel.blogspot.com for more
See the original video here:
Gerald Celente - Brian Wilson - WSPD Toledo - 24 May
Spending Big at the Ag Department
Last weekend I wrote about legislation sponsored by House Republican “Buck” McKeon (R.Ca) who is the head of the powerful Armed Services Committee. Buck had proposed a spending plan for the military that maintains spending on guns and ammo at the highest level in the nation's history. The proposal's spending levels are above those set by congress in last year’s Budget Control Act. I gave the Republicans gas for coming up with such a ludicrous plan. Many readers read concluded that I
Guest Post: Facebook SOBS Or… “Don’t Cry for Me Avaritia”
Submitted by Ben Tanosborn
Facebook SOBS or… “Don’t Cry for Me Avaritia”
The sobs we have in mind are neither short, audible gasps of breath of those who are invested in Facebook stock, nor are they intended as a bastardly reference of those who, inside and/or outside of the Company, put together and took to fruition this much-awaited I.P.O. (Initial Public Offering). These mnemonic sobs we have in mind represent simply Shares-Of-Bubbly-Stock. For that’s what those 421.2
Facebook SOBS or… “Don’t Cry for Me Avaritia”
The sobs we have in mind are neither short, audible gasps of breath of those who are invested in Facebook stock, nor are they intended as a bastardly reference of those who, inside and/or outside of the Company, put together and took to fruition this much-awaited I.P.O. (Initial Public Offering). These mnemonic sobs we have in mind represent simply Shares-Of-Bubbly-Stock. For that’s what those 421.2
Saturday, May 26, 2012
Comparing Track Records: Mitt Romney's Private Equity vs Barack Obama's Public Equity
By now everyone is well aware what the main tension involving this year's presidential campaign as far as Mitt Romney is concerned, will be his professional past, namely his experience at, and exposure to, Bain Capital. By now most have also gotten a sense of the angle of attack that the incumbent will rely on in order to discredit his GOP challenger, and if they haven't, they will soon enough: after all in Obama's own words "Mitt Romney's record at Bain Capital is what this campaign
Are The Europeans About To Start The Second Half Of Our Great Depression?
"Just when we think the worst is over - and let's face it we have been in this crisis for five years - we get the second half; are the Europeans about to start the second half our Great Depression with massive bank runs" are the Jaws-music-inspired words that recent media-favorite (yes, us too) Niall Ferguson uses in an interview with CBC. His main concern is that this kind of (bank-run) event can quickly spiral out of the control of even the ECB as he uncomfortably conjures the image of
Europe Is Fighting the Wrong Battles Again
Via Peter Tchir of TF Market Advisors,
Europe continues to fight the wrong battle, and continues to spread contagion risk.
It is clear that Greece has had a solvency issue now for over 2 years. The ECB and Troika chose to treat it as a liquidity problem. Maybe, they could have argued that in early 2010, but by the summer of 2011 it was obvious to any credit observer that the problem was solvency, yet they continued to treat it as one of liquidity. That is scary because if they fail
Europe continues to fight the wrong battle, and continues to spread contagion risk.
It is clear that Greece has had a solvency issue now for over 2 years. The ECB and Troika chose to treat it as a liquidity problem. Maybe, they could have argued that in early 2010, but by the summer of 2011 it was obvious to any credit observer that the problem was solvency, yet they continued to treat it as one of liquidity. That is scary because if they fail
China And Japan Dropping Dollar Cross Rate System, Will Transact Directly
While various three letter economic schools of thought continue sprouting left and right, in an attempt to validate endless spending predicated on one simple thing: transitory reserve currency status, and we emphasize transitory, reality moves on, oblivious of what economic theoreticians believe it should be doing. As Yomiuri Shimbun reported last night, China and Japan are set to launch direct currency trading, bypassing the dollar, and the associated benefits and risks, entirely. "But
THe CoRZiNe RuLe: DiCK FuLD
What is the Corzine Rule you may ask?
CASE IN POINT: DICK FULD
.
See the original article here:
THe CoRZiNe RuLe: DiCK
CASE IN POINT: DICK FULD
.
See the original article here:
THe CoRZiNe RuLe: DiCK
As An Encore to Bailing Out the Big Banks, Government to Backstop Derivativees Clearinghouses … In the U.S. and Abroad
The government has been bailing out the giant, insolvent banks for years. (Many of the bailed out banks are foreign.)
That is preventing the economy from recovering … like countries that have grabbed the bull by the horns.
The government has allowed the amount of derivatives to reach 1.2 quadrillion dollars.
That is feeding the parasite of casino gambling … which is preventing the real economy from recovering and is killing the host of actual productivity.
What is the government doing
That is preventing the economy from recovering … like countries that have grabbed the bull by the horns.
The government has allowed the amount of derivatives to reach 1.2 quadrillion dollars.
That is feeding the parasite of casino gambling … which is preventing the real economy from recovering and is killing the host of actual productivity.
What is the government doing
Guest Post: Chinese Chaos Is The Immediate Threat To The Dollar
Submitted by John Aziz of Azizonomics
Chinese Chaos Is The Immediate Threat To The Dollar
In twenty or thrity years, I expect future monetary historians looking back on this period of history to frequently misquote Ernest Hemingway:
How did the dollar die? First it died slowly — then all at once.
The slow death began with the dollar’s birth as a global reserve currency. America was creditor and manufacturer to the world, and the capitalist superpower. People around the globe
Chinese Chaos Is The Immediate Threat To The Dollar
In twenty or thrity years, I expect future monetary historians looking back on this period of history to frequently misquote Ernest Hemingway:
How did the dollar die? First it died slowly — then all at once.
The slow death began with the dollar’s birth as a global reserve currency. America was creditor and manufacturer to the world, and the capitalist superpower. People around the globe
"The Euro Is Dead; Long Live The Euro"
By Clive Hale from View from the Bridge
"The Euro Is Dead; Long Live The Euro"
Despite all the stories of apocalypse now there is a fighting chance that Greece will stay in the eurozone for the time being. This is the real tragedy of course, but unfortunately for all involved there just isn’t the political appetite for “Grexit”. The Germans have done their sums and if Greece leaves they are in deep, way above the top of their lederhosen. The Greeks of course want to stay on the euro
"The Euro Is Dead; Long Live The Euro"
Despite all the stories of apocalypse now there is a fighting chance that Greece will stay in the eurozone for the time being. This is the real tragedy of course, but unfortunately for all involved there just isn’t the political appetite for “Grexit”. The Germans have done their sums and if Greece leaves they are in deep, way above the top of their lederhosen. The Greeks of course want to stay on the euro
More Big Gold Purchases by Central Banks Reported to IMF
Author:
Ed Steer
Yesterday in Gold and Silver
Ed_GSDMay 26, 2012 3:25pm GMT
Email
Print
Gold hit its low price of the day during the Hong Kong lunch hour yesterday...and then rallied in fits and starts for the rest of the trading day as it advanced westward across Planet Earth on Friday.And, in a rare occurrence, gold closed virtually on its high of the day at $1,573.70 spot...up
Ed Steer
Yesterday in Gold and Silver
Ed_GSDMay 26, 2012 3:25pm GMT
Gold hit its low price of the day during the Hong Kong lunch hour yesterday...and then rallied in fits and starts for the rest of the trading day as it advanced westward across Planet Earth on Friday.And, in a rare occurrence, gold closed virtually on its high of the day at $1,573.70 spot...up
What if Peter Schiff is right again?
http://www.youtube.com/v/tfSnwsSaHwE?version=3&f=user_uploads&app=youtube_gdata
See the original video here:
What if Peter Schiff is right
See the original video here:
What if Peter Schiff is right
Markets, financials, Facebook, CBO Warning, deficits, expatriate tax
http://www.youtube.com/v/uf253a2qgbs?version=3&f=user_uploads&app=youtube_gdata
The Schiff Report (5/25/2012)
Order my new book The Real Crash at www.tinyurl.com/RealCrash
See the original video here:
Markets, financials, Facebook, CBO Warning, deficits, expatriate
The Schiff Report (5/25/2012)
Order my new book The Real Crash at www.tinyurl.com/RealCrash
See the original video here:
Markets, financials, Facebook, CBO Warning, deficits, expatriate
Friday, May 25, 2012
Now Peter Schiff is right again
http://www.youtube.com/v/tfSnwsSaHwE?version=3&f=user_uploads&app=youtube_gdata
See the original video here:
Now Peter Schiff is right
See the original video here:
Now Peter Schiff is right
Weakening Investment Demand in Platinum Group Metals (PGM's) - Erica Rannestad of CPM Group
http://www.youtube.com/v/gSgW-jtp5hc?version=3&f=user_uploads&app=youtube_gdata
Erica Rannestad, platinum/PGM analyst at CPM Group, spoke with Kitco News about the trends emerging from her research following her PGM Market Outlook Presentation (http://www.youtube.com/watch?v=xt4tTaEuZSU) at the CPM Group's 2012 Precious Metals Mining Investment Seminar and Silver Yearbook Release (http://www.youtube.com/playlist?list=PL494EBCC2CB21770A). According to Rannestad, there is a clear
Erica Rannestad, platinum/PGM analyst at CPM Group, spoke with Kitco News about the trends emerging from her research following her PGM Market Outlook Presentation (http://www.youtube.com/watch?v=xt4tTaEuZSU) at the CPM Group's 2012 Precious Metals Mining Investment Seminar and Silver Yearbook Release (http://www.youtube.com/playlist?list=PL494EBCC2CB21770A). According to Rannestad, there is a clear
If E.U. Fails, Hard Landing for China: In-Depth on RESET w/ Vince Lanci (FMX Connect)
http://www.youtube.com/v/0EUlGEdqQM8?version=3&f=user_uploads&app=youtube_gdata
The E.U. debt crisis: austerity rebellions, stability bond (Eurobond?) clashes, the ECB, monetary vs. fiscal policy-- how should an investor approach and make sense of this? We explore the European financial woes at some length in this edition of RESET, as Vince Lanci provides viewers with a possible framework for making sense of the European confusion. We go through it all piece by piece, and even
The E.U. debt crisis: austerity rebellions, stability bond (Eurobond?) clashes, the ECB, monetary vs. fiscal policy-- how should an investor approach and make sense of this? We explore the European financial woes at some length in this edition of RESET, as Vince Lanci provides viewers with a possible framework for making sense of the European confusion. We go through it all piece by piece, and even
The Ten IPO Commandments
Via Nic Colas of ConvergEx Group,
There's been a lot of hand-wringing about busted Initial Public Offerings of late, but the process itself is hardly rocket science. Like Tolstoy's comment about families, every "Happy" IPO is essentially the same, while every miserable one is different in its own way. There are rules to the successful IPO, and today we offer up Nic Colas' manual, a step-by-step checklist for investors to assess if an offering is on track. From maintaining the
There's been a lot of hand-wringing about busted Initial Public Offerings of late, but the process itself is hardly rocket science. Like Tolstoy's comment about families, every "Happy" IPO is essentially the same, while every miserable one is different in its own way. There are rules to the successful IPO, and today we offer up Nic Colas' manual, a step-by-step checklist for investors to assess if an offering is on track. From maintaining the
Greece & US Banks: Where's Da Risk?
Mike Pento pinged me yesterday and asked about US bank exposure to Greece, etc. The short answer is that most US banks don’t have any significant external credit exposure to foreign nations or obligors. But the top US banking institutions and corporates do have loans/exposures to Greek entities that will be negatively impacted by an EU withdrawal and, with it, currency devaluation. Think JPM, C, MS, GS, GE among top names that may have such exposures.
In the 1990s, when I was
In the 1990s, when I was
And Scene: Nigeria Cutting European Exposure
When Nigeria, yes "spam email Nigeria", is getting out of Dodge, it's game over. From Bloomberg: Nigeria May Reduce Euro Holding to Minimize European Risk.
We have nothing to add.
See the original article here:
And Scene: Nigeria Cutting European
We have nothing to add.
See the original article here:
And Scene: Nigeria Cutting European
European Stocks On Verge Of 50%-Off Greek Light Special
It seems the clarion call for central bank intervention to save us all is growing louder as following Citigroup's imploring letter earlier in the week, SocGen has done its homework on the impact of a Greek exit from the Euro and finds Euro Stoxx could drop by 50% under a contagion scenario. They believe the reason why the eurozone market is holding up relatively well - despite the rising risk of a Greek exit - is that contagion has not really spread yet, which is then 'discounted' away
Thursday, May 24, 2012
Silver Update 5/24/12 Bond Balloon
http://www.youtube.com/v/ky-k85X1qAQ?version=3&f=user_uploads&app=youtube_gdata
Software Provided With Permission By Netdania.com http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx
Where does it all go? http://www.brotherjohnf.com/forum/Thread-Where-does-it-all-go
USTBond Tower of Babel Teeters http://news.goldseek.com/GoldenJackass/1337803200.php
See the original video here:
Silver Update 5/24/12 Bond
Software Provided With Permission By Netdania.com http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx
Where does it all go? http://www.brotherjohnf.com/forum/Thread-Where-does-it-all-go
USTBond Tower of Babel Teeters http://news.goldseek.com/GoldenJackass/1337803200.php
See the original video here:
Silver Update 5/24/12 Bond
Here’s the REAL DEAL NO BS Situation with Europe (Warning What Follows is EXTREMELY BAD).
Here’s the REAL DEAL NO BS Situation with Europe (Warning What Follows is EXTREMELY BAD).
The media is rife with misrepresentations and analysis of the EU. Here’s the real deal.
The ECB is tapped out. Having provided over €1 trillion in funding via LTRO 1 and LTRO 2, taking on over €700 billion in PIIGS debt putting its own solvency at risk, it simply cannot launch another LTRO scheme for the following reasons:
Those banks accepting LTRO funding are being punished by the
The media is rife with misrepresentations and analysis of the EU. Here’s the real deal.
The ECB is tapped out. Having provided over €1 trillion in funding via LTRO 1 and LTRO 2, taking on over €700 billion in PIIGS debt putting its own solvency at risk, it simply cannot launch another LTRO scheme for the following reasons:
Those banks accepting LTRO funding are being punished by the
As Bankia Bailout Costs Grow Exponentially, Is A Stealth Bank Run Taking Place... And What Happens To Ronaldo?
Note the following sequence of events, bolded numbers, and dates:
Bank Of Spain Formally Nationalizes Bankia, Says Insolvent Bank Is "Solvent", Adds There Is No Cause For Concern, Zero Hedge, May 9
Spain is taking over Bankia by converting its 4.5 billion euros of preferred shares in the group’s parent company into ordinary shares, BusinessWeek, May 21
Spain said on Wednesday its rescue of problem lender Bankia would cost at least 9 billion euros ($11 billion), as the government tries
Bank Of Spain Formally Nationalizes Bankia, Says Insolvent Bank Is "Solvent", Adds There Is No Cause For Concern, Zero Hedge, May 9
Spain is taking over Bankia by converting its 4.5 billion euros of preferred shares in the group’s parent company into ordinary shares, BusinessWeek, May 21
Spain said on Wednesday its rescue of problem lender Bankia would cost at least 9 billion euros ($11 billion), as the government tries
Not Even Goldman Understands This Market Any More
The following EOD commentary from Goldman's S&T desk pretty much summarizes how everyone feels.
All’s well that ends unchanged (again) in equities. Today’s rally into the close doesn’t match yesterday’s rip, but neither did today’s selloff match yesterday’s. Unclear what drove the rally back, perhaps the Monti headlines (though not from how I read them) or perhaps simply seller’s fatigue (though not judging by our flow). Long-only accounts small better to buy, but hedge
All’s well that ends unchanged (again) in equities. Today’s rally into the close doesn’t match yesterday’s rip, but neither did today’s selloff match yesterday’s. Unclear what drove the rally back, perhaps the Monti headlines (though not from how I read them) or perhaps simply seller’s fatigue (though not judging by our flow). Long-only accounts small better to buy, but hedge
Police Urging Greeks To Stop Stuffing Mattresses
We have spent a considerable amount of time in the last week or two explaining just why depositor withdrawals (or bank runs) are the death knell for the Euro experiment. We first described the 'run on banks and governments' on the basis of the potential for overnight loss of 'fungibility' back in December but the escalation last week in Greece (and the contagion to Spain's Bankia) signals things are shifting to 11 on the amplifier of Euro-Fail. This evening brings new information from The
William Black on JP Morgan and the Failure to Regulate Wall Street Fraud
William Black on JP Morgan and the Failure to Regulate Wall Street Fraud
Courtesy of Jesse's Cafe Americain
"It is no exaggeration to say that since the 1980s, much of the global financial sector has become criminalised, creating an industry culture that tolerates or even encourages systematic fraud. The behaviour that caused the mortgage bubble and financial crisis of 2008 was a natural outcome and continuation of this pattern, rather than some kind of economic accident...And yet none
Courtesy of Jesse's Cafe Americain
"It is no exaggeration to say that since the 1980s, much of the global financial sector has become criminalised, creating an industry culture that tolerates or even encourages systematic fraud. The behaviour that caused the mortgage bubble and financial crisis of 2008 was a natural outcome and continuation of this pattern, rather than some kind of economic accident...And yet none
Retail Pulls Money Out Of Stocks For 13th Consecutive Week
Not like this will come as a surprise to anyone in the aftermath of last week's abysmal FaceBook IPO which pretty much killed all retail interest in equity markets, but in the last week, the "dumb" retail investor pulled another $3.5 billion out of domestic stocks per ICI, bringing the total tally to 13 consecutive weeks of outflows, 52 weeks of outflows in the past 56 weeks, with redemptions amounting to $46 billion in 2012, compared to just $6.5 billion for the same period in 2011.
Danielle Park and Alasdair Macleod on the future of the economy
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Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. Danielle Park, host of Juggling Dynamite, and the GoldMoney Foundation's Alasdair Macleod discuss the current economic crisis, the financial sector and where they see the global economy heading.
Park talks about government intervention in the economy and the impact this is having, and the growing public anger directed at governments
Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. Danielle Park, host of Juggling Dynamite, and the GoldMoney Foundation's Alasdair Macleod discuss the current economic crisis, the financial sector and where they see the global economy heading.
Park talks about government intervention in the economy and the impact this is having, and the growing public anger directed at governments
Silver Update 5/23/12 Uncivil Servants
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Oslo Stock Exchange Fights Back Against HFT And Quote Stuffing
As High-Frequency-Trading rapes and pillages its way across global capital markets, perhaps it is no surprise that the country that gave the world 'Vikings' would be the first to stand up to the computerized hordes. In a breakthrough moment of clarity, The Financial Times reports, the Oslo Stock Exchange will issue punitive changes to traders if they send too many orders into the exchange that do not result in deals being done.
This first-of-its-kind crackdown on 'Quote Stuffing' comes
This first-of-its-kind crackdown on 'Quote Stuffing' comes
The Natural Gas Massacre Gets Bloodier
Wolf Richter www.testosteronepit.com
The plight of natural gas driller Chesapeake Energy could almost make you feel sorry for the board of directors and CEO Aubrey McClendon. He lost his chairmanship after his conflicted entanglements and an in-house hedge fund seeped to the surface. The company announced it may run out of cash to fund its drilling operations next year. Fitch, in downgrading Chesapeake’s Issuer Default Rating and senior unsecured ratings to BB-, estimated that the
The plight of natural gas driller Chesapeake Energy could almost make you feel sorry for the board of directors and CEO Aubrey McClendon. He lost his chairmanship after his conflicted entanglements and an in-house hedge fund seeped to the surface. The company announced it may run out of cash to fund its drilling operations next year. Fitch, in downgrading Chesapeake’s Issuer Default Rating and senior unsecured ratings to BB-, estimated that the
Greece Could Implode the Second Bailout and the EU by Mid-June
The following is an excerpt from my latest client letter
While most of my analysis so far has concerned France’s elections, it was in fact Greece’s May election which proved more significant for the future of the EU.
I do not want to delve too much into Greek history and political parties. So I’ll simply show the results along with the names and brief descriptions of each party:
Party
Beliefs
Number of Seats
New Democracy (ND)
Old school center right, one of two major
While most of my analysis so far has concerned France’s elections, it was in fact Greece’s May election which proved more significant for the future of the EU.
I do not want to delve too much into Greek history and political parties. So I’ll simply show the results along with the names and brief descriptions of each party:
Party
Beliefs
Number of Seats
New Democracy (ND)
Old school center right, one of two major
Regulatory Capital: Size And How You Use It Both Matter
Via Peter Tchir of TF Market Advisors,
Bank Regulatory Capital has been in the news a lot recently. The Spanish banks have their own set of capital issues. There has been a lot of discussion about Too Big To Fail (“TBTF”) in the U.S. with regulators demanding more and banks fighting it. After JPM's surprise loss this month, the debate over the proper regulatory framework and capital requirements will reach a fever pitch. That is great, but maybe it is also time to step back
Bank Regulatory Capital has been in the news a lot recently. The Spanish banks have their own set of capital issues. There has been a lot of discussion about Too Big To Fail (“TBTF”) in the U.S. with regulators demanding more and banks fighting it. After JPM's surprise loss this month, the debate over the proper regulatory framework and capital requirements will reach a fever pitch. That is great, but maybe it is also time to step back
And Meanwhile, In The Arabian Sea...
There was a time, late in the winter, that not a day passed without some headline announcing Israel's preparedness to attack Iran, culminating with the grotesque - a show on Israel TV detailing the actual invasion plans. All these daily updates did was guarantee one thing - that absolutely no war could possibly break out for two simple reasons:
i) you never declare war when the opponent is expecting you, instead you habituate them to news about imminent invasions which never happens, and,
i) you never declare war when the opponent is expecting you, instead you habituate them to news about imminent invasions which never happens, and,
Guest Post: The E.U., Neofeudalism And The Neocolonial-Financialization Model
Submitted by Charles Hugh Smith from Of Two Minds
The E.U., Neofeudalism And The Neocolonial-Financialization Model
To fully understand the Eurozone's financial-debt crisis, we must dig through the artifice, obfuscation and propaganda to the real dynamics of Europe's "new feudalism," the Neocolonial-Financialization Model.
Forget "austerity"and political theater--the only way to truly comprehend the Eurozone is to understand the Neocolonial-Financialization Model, as that's the key dynamic
The E.U., Neofeudalism And The Neocolonial-Financialization Model
To fully understand the Eurozone's financial-debt crisis, we must dig through the artifice, obfuscation and propaganda to the real dynamics of Europe's "new feudalism," the Neocolonial-Financialization Model.
Forget "austerity"and political theater--the only way to truly comprehend the Eurozone is to understand the Neocolonial-Financialization Model, as that's the key dynamic
Here Is What The Real Fear Index Is Saying
With so many talking heads claiming the 8% drop in stocks and VIX's jump back above 20% as a sure-fire indication that the market is in chaos and needs Fed help stat, we remind readers that VIX reflects a contemporaneous premium for up/down movements in the future offering little insight into downside risk per se and more reflective of a regime shift in market volatility - i.e. a rising VIX means market participants expect the markets to move around more (up and/or down).
While looking
While looking
Erica Rannestad
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See the original video here:
Erica
See the original video here:
Erica
James Turk: Only One Defense Against Fiat Currency — Dump It For Gold
Author:
Ed Steer
Yesterday in Gold and Silver
Ed_GSDMay 24, 2012 11:20am GMT
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Print
As I mentioned in 'The Wrap' in yesterday's column, gold got sold down about ten bucks shortly after trading began in the Far East on their Wednesday morning. The tiny rally in the dollar at the open of London trading took the gold price down a bit more...but by 9:30 a.m. BST, the London low price
Ed Steer
Yesterday in Gold and Silver
Ed_GSDMay 24, 2012 11:20am GMT
As I mentioned in 'The Wrap' in yesterday's column, gold got sold down about ten bucks shortly after trading began in the Far East on their Wednesday morning. The tiny rally in the dollar at the open of London trading took the gold price down a bit more...but by 9:30 a.m. BST, the London low price
Wednesday, May 23, 2012
Frontline On MF Global's Six Billion Dollar Bet
While the sur-realities of just what Corzine and the rest of the MF Global 'traders' did has been extensively discussed here and elsewhere, PBS' Frontline provides the most succinct (and relatively in-depth) documentary on just what occurred from how the corrupt CEO lobbied regulators who had the power to stop his risky bets to the endgame realization of the missing customer money. A narrative, not just of "a bet that went bad", but "a Wall Street morality tale". Must watch!
The story
The story
German Press: "The Greek Exit Is A Done Deal"
Did France, Italy and Greece think they are the only ones who can float strawmen in the media? No. Once again, Germany shows us how it is done. From Tomorrow's edition of Deutsche Wirtschafts Nachricthen: "The Greece-exit is a done deal: According to the German economic news from financial circles EU and the ECB have abandoned the motherland of democracy as a euro member. The reason is, interestingly, not in the upcoming elections - these are basically become irrelevant. The EU has finally
China HSBC Flash PMI Declines, Economy Now In Contraction For 10 Of Past 11 Months
The Chinese Schrodinger conundrum, in which two different distinct PMI indicators continue to paint opposite pictures of the economy, as explained first here, continues. Moments ago, the HSBC Flash PMI posted a decline from 49.3 in April to 48.7. This is the 7th consecutive month in which the economy is in a contraction according to HSBC, and 10th of the last 11. Needless to say, this is only half of the story, and we expect that the official Chinese PMI index will post another increase
Guest Post: Is China Really Liquidating Treasuries?
Submitted by John Aziz of Azizonomics
Is China Really Liquidating Treasuries?
The news that China has become the first sovereign to establish a direct sales relationship with the U.S. Treasury (therefore cutting out the middleman and bypassing Wall Street ) raises a few interesting questions.
From Reuters:
China can now bypass Wall Street when buying U.S. government debt and go straight to the U.S. Treasury, in what is the Treasury’s first-ever direct relationship with a foreign
Is China Really Liquidating Treasuries?
The news that China has become the first sovereign to establish a direct sales relationship with the U.S. Treasury (therefore cutting out the middleman and bypassing Wall Street ) raises a few interesting questions.
From Reuters:
China can now bypass Wall Street when buying U.S. government debt and go straight to the U.S. Treasury, in what is the Treasury’s first-ever direct relationship with a foreign
Spain 'Discovers' 28 Billion In Debt
Back in late March, we pointed out - much to the chagrin of the LTRO-funded Spanish-sovereign-debt-stuffing banks of the tapas-nation - that, in a similarly misleading manner to Greece's 'leverage' the debt-to-GDP data for Spain was significantly higher than official estimates. Once sovereign guarantees, contingent liabilities and their responsibilities to the EU and the ECB were included things got a whole lot uglier. Now, slowly but surely, as reported by Reuters this evening, some of
SILVER MARKET UPDATE - David Morgan
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SILVER MARKET UPDATE - David
http://www.Silver-Investor.com/
For more interviews and financial insight: YouTube.com/UnconventionalFIN
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SILVER MARKET UPDATE - David
CARTEL RAID UPDATE: The Coming Trigger Event Will Make Physical Disappear
http://www.youtube.com/v/Q0YpLsCtkYM?version=3&f=user_uploads&app=youtube_gdata
CARTEL RAID UPDATE: The Bankster cartel has slammed precious metals once again, but guess what? NOTHING has changed. Andy Schectman says these slams are nothing more than a SUBSIDY and a gift. Physical silver IS money. Physical gold IS money. And if you don't hold it, you don't own it.
Andy Schectman's web site:
milesfranklin.com
Music: "Stormfront" by Kevin MacLeod (incompetech.com) Licensed under
CARTEL RAID UPDATE: The Bankster cartel has slammed precious metals once again, but guess what? NOTHING has changed. Andy Schectman says these slams are nothing more than a SUBSIDY and a gift. Physical silver IS money. Physical gold IS money. And if you don't hold it, you don't own it.
Andy Schectman's web site:
milesfranklin.com
Music: "Stormfront" by Kevin MacLeod (incompetech.com) Licensed under
This Is What European Banks' Loan-To-Deposit Ratios Look Like
For those who feel like spreading rumors about European deposit insurance, please do. But at least have some sense about what it would entail. European banks already have the highest loan-to-deposit loan-to-deposit ratio in the world. This means they are massively more levered, roughly 3x more, the US banks. In other words, deposit "encumbrance" is already absolutely maxed out. Think the ECB can credibly backstop Europe's €11 trillion deposit market, with Germany's agreement? Good
POMO For The Rest Of Us - A Zero Hedge Initiative
Now that talk of NEW QE is once again all the rage, and with the FOMC's June meeting in less than a month, and since there is nothing that anyone can do, short of a revolution to prevent this (with half the country obese, and the other half hypnotized by the Kardashians or on disability, that ain't happening), it only makes sense to join them since we can't beat them. Which is why we are officially launching the "POMO For The Rest Of Us" initiative. Beginning today, we will collate
Guest Post: Unemployment Insurance Schemes And The Dependency Of Welfare
Submitted by James Miller of the Ludwig von Mises Institute of Canada
Unemployment Insurance Schemes And The Dependency Of Welfare
In the Garden of Eden there is no scarcity. Food, clothing, and shelter in are abundance. Resources merely fall from the heavens upon command. It is economic paradise precisely because economics does not exist. The universal laws that hold in the world of scarce goods vanquish in the land of the plenty.
The vision of Eden is the politician’s
Unemployment Insurance Schemes And The Dependency Of Welfare
In the Garden of Eden there is no scarcity. Food, clothing, and shelter in are abundance. Resources merely fall from the heavens upon command. It is economic paradise precisely because economics does not exist. The universal laws that hold in the world of scarce goods vanquish in the land of the plenty.
The vision of Eden is the politician’s
Ron Hera and Alasdair Macleod on why gold will reemerge as a safe haven
http://www.youtube.com/v/mjhRUkOPIHA?version=3&f=user_uploads&app=youtube_gdata
Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. Ron Hera, founder of Hera research, and the GoldMoney Foundation's Alasdair Macleod discuss mining stock valuations, the continuing economic decline across much of the developed world, and how gold will reemerge as the ultimate safe haven asset.
They also discuss the outlook for gold and silver mining stocks. Although the gold price
Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. Ron Hera, founder of Hera research, and the GoldMoney Foundation's Alasdair Macleod discuss mining stock valuations, the continuing economic decline across much of the developed world, and how gold will reemerge as the ultimate safe haven asset.
They also discuss the outlook for gold and silver mining stocks. Although the gold price
QE's Long Shadow Is Getting Shorter
With Europe hitting the skids, EURUSD at multi-year lows, and the US equity market down a whopping (and terrifying) 9% from its March highs, it seems the market remains increasingly hopeful that this time will not be different in that the Central Banks of the world will print and save us once more. As a reminder we suspect the ECB can't (collateral is non-existent for the most needy sovereigns/banks) and won't (Germany and the AAA-Club vehemently opposed to losing this game of chicken),
Gold Bubble? Demand Data Continues To Show No Bubble
Gold’s London AM fix this morning was USD 1,555.00, EUR 1,229.44, and GBP 989.56 per ounce. Yesterday's AM fix this morning was USD 1,575.75, EUR 1,233.95, and GBP 998.76 per ounce.
Gold fell $26.20 or 1.64% in New York yesterday and closed at $1,566.80/oz. Gold fell in Asia and those falls continued in Europe where gold has been trading in a $16 range.
Asset Class Performance Since Greek Election– Thomson Reuters
Gold edged down again this morning despite fears that the European
Gold fell $26.20 or 1.64% in New York yesterday and closed at $1,566.80/oz. Gold fell in Asia and those falls continued in Europe where gold has been trading in a $16 range.
Asset Class Performance Since Greek Election– Thomson Reuters
Gold edged down again this morning despite fears that the European
On The Predictability Of European Lies
Earlier today we were delighted to predict precisely what the script of the European headline flow would be now that the only thing that matters is instilling the fear of Chairsatan in the Greek people, who are so confused that 75% of them wish to keep the Euro, but 80% wish for austerity to end - two mutually exclusive events. We outlined the daily event flow for the next month as follows:
Europe releases definitive rumor that everyone is preparing for a Greek exit full of bombastic
Europe releases definitive rumor that everyone is preparing for a Greek exit full of bombastic
THiS THiNG'S GoNNa BLoW...
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A MESSAGE FOR THE NEW COMERS...
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See the original article here:
THiS THiNG'S GoNNa
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A MESSAGE FOR THE NEW COMERS...
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See the original article here:
THiS THiNG'S GoNNa
Flowcharting The Eurocalypse
We have laid out in great detail over the past few months the contagious paths, game-theoretical endgames, and transmission channels that would occur should a nation (Greece for example) leave the Euro. Yet the covered matter is not simple, which is why sometimes the best representation is the visual one. The Financial Times has outdone themselves with the best graphical (and audio walkthrough) representation of this process. From the collapse of the domestic banking system (and its
Borowitz Does It Again: Introducing PhoneBook
It just never gets old...
From Andy Borowitz
Introducing the Hot New Social Network, PhoneBook
SILICON VALLEY (The Borowitz Report) – A new social network is about to alter the playing field of the social media world, and it’s called PhoneBook.
According to its creators, who invented the network in their dorm room at Berkeley, PhoneBook is the game-changer that will leave Facebook, Twitter and even the much anticipated Google Buzz in a cloud of dust.
“With PhoneBook, you have a
From Andy Borowitz
Introducing the Hot New Social Network, PhoneBook
SILICON VALLEY (The Borowitz Report) – A new social network is about to alter the playing field of the social media world, and it’s called PhoneBook.
According to its creators, who invented the network in their dorm room at Berkeley, PhoneBook is the game-changer that will leave Facebook, Twitter and even the much anticipated Google Buzz in a cloud of dust.
“With PhoneBook, you have a
Gerald Celente - Goldseek Radio - 16 May 2012
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See the original video here:
Gerald Celente - Goldseek Radio - 16 May
Go to http://geraldcelentechannel.blogspot.com for more
See the original video here:
Gerald Celente - Goldseek Radio - 16 May
Eyes on Eurobond Clash: Peter Hug of Kitco Metals
http://www.youtube.com/v/tEzctQa7jzE?version=3&f=user_uploads&app=youtube_gdata
All eyes on the Eurobond clash in this week's episode of "For Pete's Sake" featuring Peter Hug, Precious Metals Division Director at Kitco Metals, Inc. Hug tell us what he's looking for in the markets this week, and what factors he believes will be at play for the metals. Kitco News, May 22, 2012.
See the original video here:
Eyes on Eurobond Clash: Peter Hug of Kitco
All eyes on the Eurobond clash in this week's episode of "For Pete's Sake" featuring Peter Hug, Precious Metals Division Director at Kitco Metals, Inc. Hug tell us what he's looking for in the markets this week, and what factors he believes will be at play for the metals. Kitco News, May 22, 2012.
See the original video here:
Eyes on Eurobond Clash: Peter Hug of Kitco
Bearish Outside Forces at Play? - Technically Speaking w/ Jim Wyckoff
http://www.youtube.com/v/5LetlNmS2ZQ?version=3&f=user_uploads&app=youtube_gdata
Gold prices ended moderately lower Tuesday, pressured by bearish "outside markets" that included a firmer U.S. dollar index and lower crude oil prices. The gold market is also seeing some consolidation on the charts after recent gains. We discuss this and more in the latest "Technically Speaking" with Jim Wyckoff. Kitco News, May 22, 2012.
See the original video here:
Bearish Outside Forces at
Gold prices ended moderately lower Tuesday, pressured by bearish "outside markets" that included a firmer U.S. dollar index and lower crude oil prices. The gold market is also seeing some consolidation on the charts after recent gains. We discuss this and more in the latest "Technically Speaking" with Jim Wyckoff. Kitco News, May 22, 2012.
See the original video here:
Bearish Outside Forces at
Gold Cheaper in Real Terms Now Than it Was at $400, Wits Gold's Adam Fleming Says
Author:
Ed Steer
Yesterday in Gold and Silver
Ed_GSDMay 23, 2012 11:07am GMT
Email
Print
The gold price didn't do much until about 3:30 p.m. Hong Kong time...thirty minutes before the 8:00 a.m. London open. From that point gold began to sell off...and by shortly after 10:00 a.m. BST, gold was down about eighteen dollars from Monday's close.Then gold began to rally slowly from
Ed Steer
Yesterday in Gold and Silver
Ed_GSDMay 23, 2012 11:07am GMT
The gold price didn't do much until about 3:30 p.m. Hong Kong time...thirty minutes before the 8:00 a.m. London open. From that point gold began to sell off...and by shortly after 10:00 a.m. BST, gold was down about eighteen dollars from Monday's close.Then gold began to rally slowly from
Tuesday, May 22, 2012
An Early Warning Sign is the Currency Depreciates - Lacy Hunt; Part II
http://www.youtube.com/v/fwAjaqhwoek?version=3&f=user_uploads&app=youtube_gdata
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Casey Research's Chief Technology Investment Strategist, Alex Daley sits down with Lacy Hunt, Executive Vice President of Hoisington Investment Management, at the latest Casey Research Conference, "Recovery Reality Check" in Weston, Florida.
Subscribe to Casey's Daily for FREE:
http://bit.ly/RecoveryRealityCheck For the complete audio set from the conference, available in CD and mp3 format.
Casey Research's Chief Technology Investment Strategist, Alex Daley sits down with Lacy Hunt, Executive Vice President of Hoisington Investment Management, at the latest Casey Research Conference, "Recovery Reality Check" in Weston, Florida.
Subscribe to Casey's Daily for FREE:
Silver Update 5/22/12 Euro Gold
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Selling Your Silver Explained - Office Series 4 http://www.youtube.com/watch?v=sDDXtcG4ZZE&list=PL29AA60A5C1C9E96A&index=4&feature=plpp_video
American Silver Eagle
Software Provided With Permission By Netdania.com http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx
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Selling Your Silver Explained - Office Series 4 http://www.youtube.com/watch?v=sDDXtcG4ZZE&list=PL29AA60A5C1C9E96A&index=4&feature=plpp_video
American Silver Eagle
Will China Make the Yuan a Gold-Backed Currency?
If China Backs Its Currency with Gold, It Could Have Profound Effects for Investors … and Consumers
Larry Edelson – - writes today:
I know for a fact that Beijing wants its yuan to eventually become a gold-backed currency,
much like the Swiss franc was originally. Backing the yuan with some
gold will certainly help it become a major international currency.
Edelson
is a financial adviser who travels frequently to Asia, a former
high-volume gold trader who is interviewed a lot in the
Larry Edelson – - writes today:
I know for a fact that Beijing wants its yuan to eventually become a gold-backed currency,
much like the Swiss franc was originally. Backing the yuan with some
gold will certainly help it become a major international currency.
Edelson
is a financial adviser who travels frequently to Asia, a former
high-volume gold trader who is interviewed a lot in the
Guest Post: OPEC Has Lost The Power To Lower The Price of Oil
Submitted by Chris Martenson contributing editor Gregor Macdonald
OPEC Has Lost The Power To Lower The Price of Oil
There’s been a lot of excitement in the past year over the rise of North American oil production and the promise of increased oil production across the whole of the Americas in the years to come. National security experts and other geo-political observers have waxed poetic at the thought of this emerging, hemispheric strength in energy supply.
What’s less discussed,
OPEC Has Lost The Power To Lower The Price of Oil
There’s been a lot of excitement in the past year over the rise of North American oil production and the promise of increased oil production across the whole of the Americas in the years to come. National security experts and other geo-political observers have waxed poetic at the thought of this emerging, hemispheric strength in energy supply.
What’s less discussed,
“Nuclear-free Japan:” Figment of the Imagination
Wolf Richter www.testosteronepit.com
Nuclear power is galvanizing Japan, stirring up public discussions and outright dissent with demonstrations and all, a rare occurrence in Japan. It has divided the country in two: those who want nuclear power generation to resume so that a stranglehold can be lifted from the economy, and those who want a “nuclear-free” Japan.
Japan’s power nightmare wasn’t triggered by the March 11 earthquake and tsunami that resulted in the meltdowns at
Nuclear power is galvanizing Japan, stirring up public discussions and outright dissent with demonstrations and all, a rare occurrence in Japan. It has divided the country in two: those who want nuclear power generation to resume so that a stranglehold can be lifted from the economy, and those who want a “nuclear-free” Japan.
Japan’s power nightmare wasn’t triggered by the March 11 earthquake and tsunami that resulted in the meltdowns at
An $8bn Loss Or Was JPMorgan 'Unhedged, Long-And-Wrong' Post-LTRO2?
The full set of DTCC data is in (that is the repository for reporting CDS data) and reading between the lines provides us with some significant color on what was occurring at JPM's CIO office. For the Cliff Notes' version - see the summary at the bottom...
First things first, the position does not appear to have any HY9 tranche involvement at all, but a modest short HY credit index position was unwound in mid-Feb (we suspect related to the IG9 tranche unwind - since the delta ratio
First things first, the position does not appear to have any HY9 tranche involvement at all, but a modest short HY credit index position was unwound in mid-Feb (we suspect related to the IG9 tranche unwind - since the delta ratio
The Facebook Maginot Histogram - Here Is How Morgan Stanley Just Gave Up
Update: well, our feeling was correct:
MASSACHUSETTS SUBPOENAS MORGAN STANLEY OVER FACEBOOK
MASSACHUSETTS SEEKS MS COMMENTS TO INSTUTIONAL INVESTORS ON FB
MASSACHUSETTS SUBPOENAS MORGAN STANLEY OVER FACEBOOK COMMENTS
It is by now well-known that certain large banks were heavy defenders (by mandate and then by sheer panic) of the Facebook share price post-IPO. Margin Stanley appears to have been the name of choice for this defender, and by dint of primary greenshoe allocation, and
MASSACHUSETTS SUBPOENAS MORGAN STANLEY OVER FACEBOOK
MASSACHUSETTS SEEKS MS COMMENTS TO INSTUTIONAL INVESTORS ON FB
MASSACHUSETTS SUBPOENAS MORGAN STANLEY OVER FACEBOOK COMMENTS
It is by now well-known that certain large banks were heavy defenders (by mandate and then by sheer panic) of the Facebook share price post-IPO. Margin Stanley appears to have been the name of choice for this defender, and by dint of primary greenshoe allocation, and
Listener Questions 5/17/12 Preview
http://www.youtube.com/v/mBmhPQ9sA7E?version=3&f=user_uploads&app=youtube_gdata
Joe from American Military, Germany: What do you think about Saudi Arabia only taking US dollars for their oil and do you think this will play out in the future of the dollar's value?
Submit your webcast questions here: http://schiffradio.com/contactus?loadForm=4#contactForms
See the original video here:
Listener Questions 5/17/12
Joe from American Military, Germany: What do you think about Saudi Arabia only taking US dollars for their oil and do you think this will play out in the future of the dollar's value?
Submit your webcast questions here: http://schiffradio.com/contactus?loadForm=4#contactForms
See the original video here:
Listener Questions 5/17/12
A Bad Market is Feeding on Itself Today - Rick Rule
http://www.youtube.com/v/SGZkXAzVakg?version=3&f=user_uploads&app=youtube_gdata
http://bit.ly/RecoveryRealityCheck For the complete audio set from the conference, available in CD and mp3 format.
Rick Rule, Founder of Global Resource Investment Inc, talks about the "Ugly" in the resource sector at the latest Casey Research Conference, "Recovery Reality Check" in Weston, Florida.
Subscribe to Casey's Daily for FREE: http://bit.ly/Caseys_Daily
See the original video here:
A Bad
http://bit.ly/RecoveryRealityCheck For the complete audio set from the conference, available in CD and mp3 format.
Rick Rule, Founder of Global Resource Investment Inc, talks about the "Ugly" in the resource sector at the latest Casey Research Conference, "Recovery Reality Check" in Weston, Florida.
Subscribe to Casey's Daily for FREE: http://bit.ly/Caseys_Daily
See the original video here:
A Bad
Why The Market Is Up: Goldman Just Dumped On Stocks
Back on March 21, Goldman's Peter Oppenheimer released the "Long Good Buy, The Case For Equities", which was Goldman's subversive attempt to rally equity into buying all the stocks that Goldman had to offload, as well as buy all TSYs that GS clients had to sell. Needless to say, Goldman top ticked the market and stocks have tumbled ever since, even as the 10 Year soared from 2.5% to the current ~1.75%. So what? Well, this morning the same analyst, precisely two months on the anniversary of
Economists. What (Or Who) Are They Good For?
"Economists today primarily serve the needs of powerful interests at the expense of society in general" is how Robert Johnson - the frighteningly honest Executive Director of INET - describes the self-indoctrinating field of study that remains in such seemingly high regard in the nation. In an excellent and forthright brief interview with Stifterverband, Johnson notes that "Economists are very much accused of 'only seeing the economy through the eyes of the model' as opposed to seeing the
Egan Jones Cuts Spain To BB- From BB+
Love them or hate them, Egan Jones is always about 1 month ahead of the other rating agencies.
Spain has been weakened by the government deficit of 8.9%, the 24+% unemployment, the IIF's recent estimate of additional bank loan losses up to EUR260B, and possible depositor withdrawals. Over the past three fiscal years (i.e., from 2008 to 2010), Spain's GDP declined from EUR1.09 trillion to EUR1.07 trillion. Meanwhile, its debt mushroomed from EUR381B to EUR563B. The recently-reported
Spain has been weakened by the government deficit of 8.9%, the 24+% unemployment, the IIF's recent estimate of additional bank loan losses up to EUR260B, and possible depositor withdrawals. Over the past three fiscal years (i.e., from 2008 to 2010), Spain's GDP declined from EUR1.09 trillion to EUR1.07 trillion. Meanwhile, its debt mushroomed from EUR381B to EUR563B. The recently-reported
Patriot Coal Plunges On Report Of Bankruptcy Advisor Pitch
Wondering why PCX is plummeting, and slowly taking the entire energy complex lower? It is due to the following report from DebtWire as of last night, and reposted this morning.
Patriot Coal on Friday fielded informal pitches from restructuring advisors, said three sources familiar with the matter. The distressed coal miner aims to retain the professionals in the even the company can't satisfy its near-term financing needs.
Centerview Partners and Blackstone were among the shops
Patriot Coal on Friday fielded informal pitches from restructuring advisors, said three sources familiar with the matter. The distressed coal miner aims to retain the professionals in the even the company can't satisfy its near-term financing needs.
Centerview Partners and Blackstone were among the shops
Nigel Farage On Europe's Economic Suicide
Dismissing the propaganda-like vision of growth and jobs that is now at the forefront of any and every word from the status-quo seekers that are the European Elite, England's Nigel Farage notes the hypocrisy of the forthcoming summit's agenda. The Euro itself was supposed to create growth and jobs and yet it is actively destroying both of those things - more of the same - as the medicine is killing the patient. He attacks the idea that the world will end if Greece were to exit the Euro -
This Is Your Bond Market. This Is Your Bond Market On Fedroids... And Germany Goes Zero Coupon
The following chart from Dylan Grice does a good job of demonstrating, once and for all, what is going on in the bond market.
And speaking of bond markets, a few hours ago the German debt agency announced that it will for the first time ever, issue zero coupon 2 year bonds, which as the name implies will pay zero cash interest. In other words, Germany, sick and tired of being the only good cash collateral in Europe, is gradually halting the payment of any cash interest on its paper. After
And speaking of bond markets, a few hours ago the German debt agency announced that it will for the first time ever, issue zero coupon 2 year bonds, which as the name implies will pay zero cash interest. In other words, Germany, sick and tired of being the only good cash collateral in Europe, is gradually halting the payment of any cash interest on its paper. After
Adam Fleming and James Turk on Precious Metals and Mining
http://www.youtube.com/v/8QBU1ej7Fz8?version=3&f=user_uploads&app=youtube_gdata
Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. This interview was shot 18 May 2012. Adam Fleming, Chairman of Wits Gold and Fleming Family & Partners, discusses the gold bull market with GoldMoney's James Turk. Topics include metal price action, the eurozone's debt crisis, and mining in South Africa.
Both men think that we are the "in the foothills" of a long precious metals bull
Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. This interview was shot 18 May 2012. Adam Fleming, Chairman of Wits Gold and Fleming Family & Partners, discusses the gold bull market with GoldMoney's James Turk. Topics include metal price action, the eurozone's debt crisis, and mining in South Africa.
Both men think that we are the "in the foothills" of a long precious metals bull
UNCLE SAM BULLYING BROKERS OVER SILVER? [Plus, JPM's $7 Billion Blunder] - Woody O'Brien
http://www.youtube.com/v/ERLiHp0d3kQ?version=3&f=user_uploads&app=youtube_gdata
Woody O'Brien breaks the news that he's decided to do a "Barnhardt' and get out of the markets while the gettin' is good. Turns out that regulators appear to be warning O'Brien that Federally regulated brokers should not be giving advice to the common folks about buying physical silver... The questions is: Why does physical silver scare regulators so much? Perhaps it's because physical silver is the
Woody O'Brien breaks the news that he's decided to do a "Barnhardt' and get out of the markets while the gettin' is good. Turns out that regulators appear to be warning O'Brien that Federally regulated brokers should not be giving advice to the common folks about buying physical silver... The questions is: Why does physical silver scare regulators so much? Perhaps it's because physical silver is the
GoldMoney's Turk Interviews Sprott's Embry on Gold's Bullish Future
Author:
Ed Steer
Yesterday in Gold and Silver
Ed_GSDMay 22, 2012 10:34am GMT
Email
Print
Gold worked its way slowly higher during the Far East trading day yesterday...with the high of the day coming around 1:30 p.m. Hong Kong time.From that point, gold got sold off steadily until its low of that day about 9:20 a.m. in New York. It rallied fairly sharply after the London p.m.
Ed Steer
Yesterday in Gold and Silver
Ed_GSDMay 22, 2012 10:34am GMT
Gold worked its way slowly higher during the Far East trading day yesterday...with the high of the day coming around 1:30 p.m. Hong Kong time.From that point, gold got sold off steadily until its low of that day about 9:20 a.m. in New York. It rallied fairly sharply after the London p.m.
JuNCKeRNoMiCS: NIGERIAN SCAM?
The catapults Juncker is loadingThe plan to save Greece is explodingIf the core takes a hitHe'll start launching shitTo keep the EU from imploding
The Limerick King
EURO FAIL NIGERIAN SCAM?
.
See the original article here:
JuNCKeRNoMiCS: NIGERIAN
The Limerick King
EURO FAIL NIGERIAN SCAM?
.
See the original article here:
JuNCKeRNoMiCS: NIGERIAN
Monday, May 21, 2012
Silver Update 5/21/12 Random Walk
http://www.youtube.com/v/xC7GMirXmfM?version=3&f=user_uploads&app=youtube_gdata
Software Provided With Permission By Netdania.com http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx
Random walk hypothesis http://en.wikipedia.org/wiki/Random_walk_hypothesis
Silver price manipulation by China? http://www.brotherjohnf.com/forum/Thread-Silver-price-manipulation-by-China
Silver price Forecast: Dramatic Turnaround For Silver?
Software Provided With Permission By Netdania.com http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx
Random walk hypothesis http://en.wikipedia.org/wiki/Random_walk_hypothesis
Silver price manipulation by China? http://www.brotherjohnf.com/forum/Thread-Silver-price-manipulation-by-China
Silver price Forecast: Dramatic Turnaround For Silver?
The Benefits Of A College Education
... Are what again? As the following graphic from IBD demonstrates, for the first time in history, a majority of jobless workers over 25 have attended some college, and now outnumber those without a job who simply have a high school diploma or less. But at least those in the fomer category have tens of thousands of non-dischargeable debt to show for it.
From IBD:
Out of 9 million unemployed in April, 4.7 million had gone to college or graduated and 4.3 million had not, seasonally
From IBD:
Out of 9 million unemployed in April, 4.7 million had gone to college or graduated and 4.3 million had not, seasonally
Paul Krugman’s Economic Blinders
Paul Krugman’s Economic Blinders
Courtesy of Michael Hudson
Paul Krugman is widely appreciated for his New York Times columns criticizing Republican demands for fiscal austerity. He rightly argues that cutting back public spending will worsen the economic depression into which we are sinking. And despite his partisan Democratic Party politicking, he warned from the outset in 2009 that President Obama’s modest counter-cyclical spending program was not sufficiently bold to spur
Courtesy of Michael Hudson
Paul Krugman is widely appreciated for his New York Times columns criticizing Republican demands for fiscal austerity. He rightly argues that cutting back public spending will worsen the economic depression into which we are sinking. And despite his partisan Democratic Party politicking, he warned from the outset in 2009 that President Obama’s modest counter-cyclical spending program was not sufficiently bold to spur
Mark Spitznagel: The Austrians And The Swan - Birds Of A Different Feather
Submitted by Mark Spitznagel, CIO of Universa Investments LP: a white paper
The Austrians and the Swan:
Birds of a Different Feather
On Induction: If it looks like a swan, swims like a swan…
By now, everyone knows what a tail is. The concept has become rather ubiquitous, even to many for whom tails were considered inconsequential just over a few years ago. But do we really know one when we see one?
To review, a tail event—or, as it has come to be known, a black swan event—is an
The Austrians and the Swan:
Birds of a Different Feather
On Induction: If it looks like a swan, swims like a swan…
By now, everyone knows what a tail is. The concept has become rather ubiquitous, even to many for whom tails were considered inconsequential just over a few years ago. But do we really know one when we see one?
To review, a tail event—or, as it has come to be known, a black swan event—is an
The Confiscation Conundrum in Europe
Wolf Richter www.testosteronepit.com
No one likes paying taxes. You’d think. And it’s not just income taxes but a slew of other taxes. In San Francisco, we already have an 8.5% sales tax—but propositions to increase the state portion are worming their way onto the November ballot. At least we get to vote on it. And if it passes, it’s our own @#%& fault. In Japan, efforts to raise the national consumption tax from 5% to 8% by 2014 and to 10% by 1015 have led to a groundswell of
No one likes paying taxes. You’d think. And it’s not just income taxes but a slew of other taxes. In San Francisco, we already have an 8.5% sales tax—but propositions to increase the state portion are worming their way onto the November ballot. At least we get to vote on it. And if it passes, it’s our own @#%& fault. In Japan, efforts to raise the national consumption tax from 5% to 8% by 2014 and to 10% by 1015 have led to a groundswell of
Did The Fed Just Give Us A Very Big Clue Just How Big JPM's CIO Loss May Be?
Earlier today we mocked Jamie Dimon for announcing the cancellation of his firm's stock buyback program, just two shorts months after March 13, when none other than JP Morgan forced the Fed to scramble and release the full stress test ahead of schedule, after Jamie Dimon decided to frontrun the full FRBNY stress test release (whose sole purpose was to determine under what worst case scenario the Fed was ok with allowing JPM and various other Bank Holding Companies to proceed with dividend
Gerald Celente - The Gary Null Show - May 18, 2012
http://www.youtube.com/v/V9ZZ-1V_t-A?version=3&f=user_uploads&app=youtube_gdata
Go to http://geraldcelentechannel.blogspot.com for more
See the original video here:
Gerald Celente - The Gary Null Show - May 18,
Go to http://geraldcelentechannel.blogspot.com for more
See the original video here:
Gerald Celente - The Gary Null Show - May 18,
China Can Now Monetize US Debt Directly
The Treasury, apparently dissatisfied with the speed of indirect bank and/or Fed-inspired monetization of its exponentially rising debt-load at ever-cheaper costs of funds, decided in June 2011 to allow the Chinese, with their equally large bucket of USDs to bid directly for US Treasuries. As Reuters reports, China can now bypass Wall Street when buying U.S. government debt and go straight to the U.S. Treasury, in what is the Treasury's first-ever direct relationship with a foreign
Stocks Bounced As Financials, Socials Trounced
Something different today. A dip was bought and kept a little momentum - aided and abetted by some late-afternoon desperation EUR buying correlation-help which dragged the Dow back over the magical 12,500 level. Stocks and high-yield credit bounced nicely today - with the latter dragging the former higher from what we could tell (on the back of reversion to fair-value in the ETF and credit market) - as the rest of risk-assets were generally stable. AAPL rotation (making yet another one of
Forget The "Bazookas": Here Come The "Tomahawks" And "Howitzers" - An R-Rated Walk Thru The Greek Endgame
We have already provided much cold, hard, clinical facts on the hypothetical Greek EMU exit on countless occasions before. Yet Jefferies' David Zervos has done it with such peculiar aplomb which we have not encountered before, that we felt compelled to share with it readers. Zervos' Paulsonesque 'apocalyptic' flair shines particularly when analyzing what happens at T-0, i.e., June 16, i.e., the day before Greek election day, i.e., the last Greek free call option on physical euros if
Facebook IPO Post-Mortem For Dummies
Over the weekend we presented a very sophisticated, bottoms-up, trade-level analysis of the Facebook IPO debacle courtesy of Nanex. Now that the $38 underwriter-supported price has been breached with gusto, and absolutely anyone and everyone who bought into the Facebook IPO and still holds the stock as of market close has suffered major losses, here is a far more simplified, grass-roots, animated Facebook post-mortem for the 'rest of us'... many of whom likely are nursing 10-20% losses in
Rick Rule and Alasdair Macleod on why gold bullion is insurance
http://www.youtube.com/v/-Ak6kOMHIKs?version=3&f=user_uploads&app=youtube_gdata
Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. Rick Rule, of Sprott Asset Management, and Alasdair Macleod of the GoldMoney Foundation, talk about the role of gold bullion as a financial insurance and how to invest in gold mining stocks. They also discuss the current state of the global financial system.
With regards to the current fall in precious metal prices, Rule points out
Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. Rick Rule, of Sprott Asset Management, and Alasdair Macleod of the GoldMoney Foundation, talk about the role of gold bullion as a financial insurance and how to invest in gold mining stocks. They also discuss the current state of the global financial system.
With regards to the current fall in precious metal prices, Rule points out
2012 PGM Market Outlook Presentation - Erica Rannestad, CPM Group
http://www.youtube.com/v/xt4tTaEuZSU?version=3&f=user_uploads&app=youtube_gdata
Erica Rannestad of CPM Group's full presentation from the 2012 CPM Precious Metals Mining Investment Seminar, "2012 PGM Market Outlook". Kitco News, May 21, 2012.
See the original video here:
2012 PGM Market Outlook Presentation - Erica Rannestad, CPM
Erica Rannestad of CPM Group's full presentation from the 2012 CPM Precious Metals Mining Investment Seminar, "2012 PGM Market Outlook". Kitco News, May 21, 2012.
See the original video here:
2012 PGM Market Outlook Presentation - Erica Rannestad, CPM
Noront Resources Corporate Presentation 2012 - Wes Hanson, President & CEO
http://www.youtube.com/v/1g23HjOz50E?version=3&f=user_uploads&app=youtube_gdata
Noront Resource's (NOT-V:TSX) full-length corporate presentation at the 2012 CPM Group Precious Metals Mining Investment Seminar, as presented by Wes Hanson, President & CEO. Kitco News, May 21, 2012.
See the original video here:
Noront Resources Corporate Presentation 2012 - Wes Hanson, President &
Noront Resource's (NOT-V:TSX) full-length corporate presentation at the 2012 CPM Group Precious Metals Mining Investment Seminar, as presented by Wes Hanson, President & CEO. Kitco News, May 21, 2012.
See the original video here:
Noront Resources Corporate Presentation 2012 - Wes Hanson, President &
Duluth Metals Limited Corporate Presentation 2012 - Christopher Dundas, Chairman & CEO
http://www.youtube.com/v/gWzC2WeOmik?version=3&f=user_uploads&app=youtube_gdata
Duluth Metals Ltd's (TSX:DM, DM.U in $US) full-length corporate presentation from CPM Group's 2012 Precious Metals Mining Investment Seminar , as presented by Chairman & CEO Christopher Dundas. Kitco News, 2012.
See the original video here:
Duluth Metals Limited Corporate Presentation 2012 - Christopher Dundas, Chairman &
Duluth Metals Ltd's (TSX:DM, DM.U in $US) full-length corporate presentation from CPM Group's 2012 Precious Metals Mining Investment Seminar , as presented by Chairman & CEO Christopher Dundas. Kitco News, 2012.
See the original video here:
Duluth Metals Limited Corporate Presentation 2012 - Christopher Dundas, Chairman &
Great Panther Silver's Corporate Presentation 2012 - Robert Archer, CEO
http://www.youtube.com/v/IhvO03QcDgU?version=3&f=user_uploads&app=youtube_gdata
Great Panther Silver's (NYSE Amex: GPL, TSX: GPR) full-length corporate presentation at CPM Group's Precious Metals Mining Investment Seminar and Silver Yearbook Release, as presented by CEO Robert Archer. Kitco News, May 21, 2012.
See the original video here:
Great Panther Silver's Corporate Presentation 2012 - Robert Archer,
Great Panther Silver's (NYSE Amex: GPL, TSX: GPR) full-length corporate presentation at CPM Group's Precious Metals Mining Investment Seminar and Silver Yearbook Release, as presented by CEO Robert Archer. Kitco News, May 21, 2012.
See the original video here:
Great Panther Silver's Corporate Presentation 2012 - Robert Archer,
Silver Yearbook 2012 Release and Silver Market Presentation - Jeffrey M. Christian, CPM Group
http://www.youtube.com/v/K3HgpNMvqKU?version=3&f=user_uploads&app=youtube_gdata
The 2012 Silver Yearbook Release and Silver Market Presentation by Jeffrey M. Christian of CPM Group, at their "2012 Precious Metals Mining Investment Seminar". Kitco News, May 21, 2012.
See the original video here:
Silver Yearbook 2012 Release and Silver Market Presentation - Jeffrey M. Christian, CPM
The 2012 Silver Yearbook Release and Silver Market Presentation by Jeffrey M. Christian of CPM Group, at their "2012 Precious Metals Mining Investment Seminar". Kitco News, May 21, 2012.
See the original video here:
Silver Yearbook 2012 Release and Silver Market Presentation - Jeffrey M. Christian, CPM
Aurcana Silver 2012 Corporate Presentation - Lenic Rodriguez, President, CEO and Director
http://www.youtube.com/v/eXYkaKPzNl8?version=3&f=user_uploads&app=youtube_gdata
Aurcana Corporation's (TSX.V: AUN, US OTC: AUNFF) full-length corporate presentation from CPM Group's 2012 Precious Metals Seminar, as presented by Lenic Rodriguez, President, CEO and Director. Kitco News, May 21, 2012.
See the original video here:
Aurcana Silver 2012 Corporate Presentation - Lenic Rodriguez, President, CEO and
Aurcana Corporation's (TSX.V: AUN, US OTC: AUNFF) full-length corporate presentation from CPM Group's 2012 Precious Metals Seminar, as presented by Lenic Rodriguez, President, CEO and Director. Kitco News, May 21, 2012.
See the original video here:
Aurcana Silver 2012 Corporate Presentation - Lenic Rodriguez, President, CEO and
South American Silver Corp 2012 Corporate Presentation - Greg Johnson, President & CEO, Director
http://www.youtube.com/v/87Q5ogIU2zI?version=3&f=user_uploads&app=youtube_gdata
South American Silver Corp's (TSX: SAC, US OTC: SOHAF) corporate presentation at CPM Group's 2012 Precious Metals Mining Investment Seminar, as presented by Greg Johnson, President, CEO, & Director . Kitco News, May 21, 2012.
See the original video here:
South American Silver Corp 2012 Corporate Presentation - Greg Johnson, President & CEO,
South American Silver Corp's (TSX: SAC, US OTC: SOHAF) corporate presentation at CPM Group's 2012 Precious Metals Mining Investment Seminar, as presented by Greg Johnson, President, CEO, & Director . Kitco News, May 21, 2012.
See the original video here:
South American Silver Corp 2012 Corporate Presentation - Greg Johnson, President & CEO,
Timmins Gold Corp 2012 Corporate Presentation - Bruce Bragagnolo, CEO/Director
http://www.youtube.com/v/Xgk9BCSXHr8?version=3&f=user_uploads&app=youtube_gdata
Timmins Gold Corp's (NYSE Amex: TGD, TSX: TMM) full-length corporate presentation at CPM Group's Precious Metals Mining Investment Seminar, as presented by Bruce Bragagnolo, CEO/Director. Kitco News, May 21, 2012.
See the original video here:
Timmins Gold Corp 2012 Corporate Presentation - Bruce Bragagnolo,
Timmins Gold Corp's (NYSE Amex: TGD, TSX: TMM) full-length corporate presentation at CPM Group's Precious Metals Mining Investment Seminar, as presented by Bruce Bragagnolo, CEO/Director. Kitco News, May 21, 2012.
See the original video here:
Timmins Gold Corp 2012 Corporate Presentation - Bruce Bragagnolo,
Andover Mining Corp's 2012 Corporate Presentation - Gordon Blankenstein, CEO & Chairman
http://www.youtube.com/v/U8PdbNa1RqM?version=3&f=user_uploads&app=youtube_gdata
Andover Mining Corp's (TSX.V - AOX, US.OTC - AOVTF) full-length corporate presentation at CPM Group's Precious Metals Mining Investment Seminar, as presented by Gordon Blankenstein, CEO & Chairman. Kitco News, May 21, 2012.
See the original video here:
Andover Mining Corp's 2012 Corporate Presentation - Gordon Blankenstein, CEO &
Andover Mining Corp's (TSX.V - AOX, US.OTC - AOVTF) full-length corporate presentation at CPM Group's Precious Metals Mining Investment Seminar, as presented by Gordon Blankenstein, CEO & Chairman. Kitco News, May 21, 2012.
See the original video here:
Andover Mining Corp's 2012 Corporate Presentation - Gordon Blankenstein, CEO &
2012 Gold Market Outlook - Rohit Savant of CPM Group
http://www.youtube.com/v/lOmhhzu-gq8?version=3&f=user_uploads&app=youtube_gdata
CPM Group's 2012 Gold Market Outlook, as presented by analyst Rohit Savant at CPM's Precious Metals Mining Investment Seminar. Kitco News, May 21, 2012.
See the original video here:
2012 Gold Market Outlook - Rohit Savant of CPM
CPM Group's 2012 Gold Market Outlook, as presented by analyst Rohit Savant at CPM's Precious Metals Mining Investment Seminar. Kitco News, May 21, 2012.
See the original video here:
2012 Gold Market Outlook - Rohit Savant of CPM
EUR Shorts Hit New Record High
Whether or not the European deterioration is real or not, one thing is certain: FX traders aren't sticking around to bet on a rebound. As of Friday, the net non-commercial position in the EUR currency was at -173,869 contracts or the biggest net short in history, surging by 30k contract over the prior week, and by a record 70k contracts in the past two weeks as things in Europe unwound rapidly. The short position is greater than the last such record hit back on January 24, when the net
Germans Just Say No To Greek Tourism, As Holiday Bookings Plunge By 30%
The last time we looked at the Greek tourism industry or what's left of it, ironically so very reliant on German tourists, we observed that receipts from this very critical to Greek tax receipts industry would likely drop to under €10 billion - a big hit to government revenues just when they are most needed. Needless to say, ongoing political chaos, a rise in anti-German sentiment, and a resurgent neo-nazi political power are not helping things. Sure enough Ekathimerini reports that
Sunday, May 20, 2012
By The Time Operation Twist 1 Is Over, The Fed Will Have Quietly Completed 40% Of Operation Twist 2 As Well
By the time Operation Twist (1) ends in just over 40 days time, on June 30, Fed Chairman Ben Bernanke, according to his previously announced "loose" target, will hope to have extended the average maturity of all bonds in the System Open Market Account (SOMA) to a record of roughly 100 months from 75 month at the onset of the program in October 2011. After all the sole purpose of Twist was to load up the Fed's portfolio with duration, forcing the rest of the market to shift its investing
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