Tuesday, January 31, 2012
Why An Outsized LTRO Will Actually Be Bad For European Banks
The post-hoc (correlation implies causation) reasons for why the initial LTRO spurred bond buying are many-fold but as Nomura points out in a recent note (confirming our thoughts from last week) investors (especially bank stock and bondholders) should be very nervous at the size of the next LTRO. Whether it was anticipation of carry trades becoming self-reinforcing, bank liquidity shock buffering, or pre-funding private debt market needs, financials and sovereigns have rallied handsomely,
Dead Market Exhibit A: January Volume
Presented with little comment except to say that the total lack of volume (and massive concentration of what volume there is at the close) is hardly reflective of a market that is anything other than broken and dying. Last January (2011) the average number of stocks traded on the NYSE per day was 891mm shares vs 661mm for this January (a 26% drop YoY!) and this is down an incredible 59% from January 2008.
Charts: Bloomberg
See the original article here:
Dead Market Exhibit A:
Charts: Bloomberg
See the original article here:
Dead Market Exhibit A:
Did God Hack Goldman Sachs?
It is oddly appropriate that when a reader opens the client portal of Goldman Sachs, also known as the bank that does God's work, in order to pull Jan Hatzius' take on today's economic data assortment, one would encounter the following amusingly intentional easter egg...
As a reminder Psalm 138:
1 A Psalm of David. I give thee thanks, O LORD, with my whole heart; before the gods I sing thy praise; 2 I bow down toward thy holy temple and give thanks to thy name for thy steadfast love
As a reminder Psalm 138:
1 A Psalm of David. I give thee thanks, O LORD, with my whole heart; before the gods I sing thy praise; 2 I bow down toward thy holy temple and give thanks to thy name for thy steadfast love
First Results Are In - Live Tracker Of Florida GOP Primary
The first numbers in the Florida GOP Primary have started trickling in with the polls still open, and while as already noted DieBold did 'leak' the final results of the election previously, those who either care what the outcome of tonight's event is, or are masochists, or both, are welcome to follow the latest developments below.
CNN Live:
and Live maps:
See the original article here:
First Results Are In - Live Tracker Of Florida GOP
CNN Live:
and Live maps:
See the original article here:
First Results Are In - Live Tracker Of Florida GOP
Goldilocks Is Back - China PMI Rises To 50.5, Modest Beat Of Expectations, Shy Of Whisper Number
China's goal-seeked economy performed admirably in January, and its Manufacturing PMI came absolutely golidlocks at 50.5, an increase from 50.3, previously, just modestly beating Wall Street expectations of a slight contraction of 40.6, yet a less than earlier whisper numbers which put it at 52. As such, thereis absolutely no indication if the PBoC will further tighten or ease in the next month, just as the PBoC likes it, because while many have been demanding easing in the last several
Bill Dudley's Financial Holdings Disclosed At Time Of AIG Bailout
Earlier today, the New York Fed was kind enough to voluntarily disclose the finacial holdings and assets of one former Goldman Sachs employee, and current FRBNY president Bill Dudley. Bill Dudley is also known as the gentleman to have received, when he was stil head of the PPT, aka the Fed's Open Markets Group, a waiver signed by one Tim Geithner on September 19, 2008, allowing him to keep not only his investment in AIG, which was "de minimis" at $1,200, but also in General Electric, which
Labor Unions Demand Escalation Of Trade War With China, Ask Obama To Restrict Chinese Auto Part Imports
Because the last time the administration got involved in the car space the results were so positive (for the unions if not so much for creditors), it appears we may be approaching another episode where central planning will make the decisions in the US auto space. Only this time instead of creditors, the impaired party will be China. Reuters reports: "Midwestern U.S. lawmakers and union groups on Tuesday urged President Barack Obama to restrict imports of auto parts from China that they
Greece Calls Crisis Meeting As Debt Talks Stall
No sooner have the supposedly close (and yet so far away) Greek debt negotiations increased haircuts but added desperate incentives such as GDP Warrants, then The Guardian is reporting that Greek PM Papademos is calling crisis meetings with Greek political party leaders as tensions are clearly growing between Greeks and their EU overlords/partners. The 'increasingly intransigent' negotiating team sent by Brussels is demanding even more severe austerity measures before sanctioning the new
California To Run Out Of Cash In One Month, Controller Warns
If anyone is tired of the daily European soap opera with surrealistic tragicomic overtones, they can simply shift their gaze to the 8th largest economy in the world: the insolvent state of California, whose controller just told legislators has just over a month worth of cash left. From the Sacramento Bee: "California will run out of cash by early March if the state does not take swift action to find $3.3 billion through payment delays and borrowing, according to a letter state Controller
Even in a World of Deleveraging... There Are STill Fortunes to Be Made
Graham's Note: This is an excerpt from my latest issue of Private Wealth Advisory in it,
As noted in yesterday’s article, the developed world will be entering a period of lower global growth for the following four reasons:
1)
Age demographics: a growing percentage of the population will be retiring while fewer younger people are entering the workforce.
2)
Excessive debt overhang.
3)
A return to more frugal “common sense” spending patterns in the
As noted in yesterday’s article, the developed world will be entering a period of lower global growth for the following four reasons:
1)
Age demographics: a growing percentage of the population will be retiring while fewer younger people are entering the workforce.
2)
Excessive debt overhang.
3)
A return to more frugal “common sense” spending patterns in the
Amazon Slides After Missing Revenues Expectations, Guides Much Lower
Amazon slides 10% after hours as it reports much weaker revenues of $17.43 billion on expectations of $18.26 billion. EPS are not really comparable but appear to beat EPS of $0.16 on Exp. of $0.38. This may not be apples to apples. More importantly, the company guides Q1 to Operating Loss of $200MM to Income of income of $100MM, on Wall Street Consensus of $268MM, and guides to Q1 revenue of just $120-$13.4 billion on Estimates of $13.4 billion: pretty wide range there... This is merely
Gold & Silver Represent Freedom and Independence - Mike Maloney
http://www.youtube.com/v/wt2oarBRhLw?version=3&f=user_uploads&app=youtube_gdata
Answer to a question from the Casey Research Summit: "Reserve Currency status--will the US lose it?"
See the original video here:
Gold & Silver Represent Freedom and Independence - Mike
Answer to a question from the Casey Research Summit: "Reserve Currency status--will the US lose it?"
See the original video here:
Gold & Silver Represent Freedom and Independence - Mike
Markets React To Reality
Following three-in-a-row weak macro prints, the market broadly speaking is not happy. The S&P is 10 points off its pre-Case-Shiller highs, EURUSD is dropping rapidly back towards 1.31, Treasury yields are falling 3-5bps across the curve, and Commodities are giving back their spike gains from pre-US day session open. FX carry seems like a major driver for now with AUDJPY and EURJPY most notable while the drop in the curve and levels of the Treasury complex are adding to downward pressure on
Latest Congressional Budget Outlook For 2012-2022 Released, Says Real Jobless Rate Is 10%
What do the NAR, Consumer Confidence and CBO forecasts have in common? If you said, "they are all completely worthless" you are absolutely correct. Alas, the market needs to "trade" off numbers, which is why the just released CBO numbers apparently are important... And the fact that the CBO predicted negative $2.5 trillion in net debt by 2011 back in 2011 is largely ignored. Anyway, here are some of the highlights.
2012 Deficit: $1.1 trillion; 2013 Deficit: $0.6 - yes, we are cackling
2012 Deficit: $1.1 trillion; 2013 Deficit: $0.6 - yes, we are cackling
Gold Is The Hottest Currency In The World
Author:
Ed Steer
Yesterday in Gold and Silver
Ed_GSDJanuary 31, 2012 11:23am GMT
Email
Print
The gold price came under steady selling pressure starting at precisely 8:00 a.m. Hong Kong time on their Monday trading day. The sell off accelerated a bit shortly after London opened...and the low of the day was in about 9:30 a.m. GMT.The price bounced off that bottom a couple of times after
Ed Steer
Yesterday in Gold and Silver
Ed_GSDJanuary 31, 2012 11:23am GMT
The gold price came under steady selling pressure starting at precisely 8:00 a.m. Hong Kong time on their Monday trading day. The sell off accelerated a bit shortly after London opened...and the low of the day was in about 9:30 a.m. GMT.The price bounced off that bottom a couple of times after
Long-Dated VIX Still Priced For Depression Risk
Since the spike in VIX in October of last year, short-dated volatility (and correlation) has dropped significantly, but the vol term-structure has steepened, and long-dated volatility remains stubbornly high. Goldman Sachs updates their volatility debt cycle thesis today and so far we are following the typical cycle post-volatility-spike - realized vols drop, short-term implied vols drop, term structure steepens, long-term vols drop - leaving them focused on both the implications of the
Diebold Leaks Election Results Early... Again
Yes, it has happened before, but since truth is timeless, we were not surprised to find that it has been "leaked" again, in this timeless clip from TheOnion which explains everything one needs to know about the upcoming "elections"
h/t Mike Krieger
See the original article here:
Diebold Leaks Election Results Early...
h/t Mike Krieger
See the original article here:
Diebold Leaks Election Results Early...
Guest Post: The Price of Growth
Submitted by ChrisMartenson.com contributing editor Gregor Macdonald
The Price of Growth
Growth. It's what every economist and politician wants. If we get 'back to growth', servicing debts both private and sovereign become much easier. And life will return to normal (for a few more years).
There is growing evidence that a major US policy shift is underway to boost growth. Growth that will create millions of new jobs and raise real GDP.
While that's welcome news to just about everyone, the
The Price of Growth
Growth. It's what every economist and politician wants. If we get 'back to growth', servicing debts both private and sovereign become much easier. And life will return to normal (for a few more years).
There is growing evidence that a major US policy shift is underway to boost growth. Growth that will create millions of new jobs and raise real GDP.
While that's welcome news to just about everyone, the
Monday, January 30, 2012
The Fed’s Rain Dance at the Bottom of the Stairs
Wolf Richter www.testosteronepit.com
Apparently, Charles Plosser, president of the Philadelphia Fed, had failed to check with his handlers when he said on CNBC this morning that the Fed might have to raise short-term interest rates later this year—from practically zero to almost zero, I guess—though just last Thursday, the Federal Open Markets Committee had announced the extension of its zero-interest-rate policy (ZIRP) through late 2014.
We’ve been getting the same song and
Apparently, Charles Plosser, president of the Philadelphia Fed, had failed to check with his handlers when he said on CNBC this morning that the Fed might have to raise short-term interest rates later this year—from practically zero to almost zero, I guess—though just last Thursday, the Federal Open Markets Committee had announced the extension of its zero-interest-rate policy (ZIRP) through late 2014.
We’ve been getting the same song and
European Bailout Infographic: Presenting The Truckloads Of Cash Needed To Rescue The Insolvent PIIGS
...No, literally truckloads. Our friends at demonocracy.info have been kind enough to put together an infographic that explains the European bailout in simple, visual terms, that even the most innocent of FTL truckers can grasp without much exertion, for the simple reason that it shows all the bailouts amounts in terms of trucks of cash. And here is the kicker: one would need a 13 lane highway, filled with trucks bumper to bumper, stretching for about 3 kilometers to represent the €2.91
Super Bowl Sentiment - Inflation And The High-End Consumer
ConvergEx's annual analysis of Super Bowl economics shows that, when the time and place is right, prices can soar like a Hail Mary pass to clinch the playoffs. Yes, the face value for tickets is unchanged in the last year - $800 to $1,200. But the street price for a ticket to the big game will set you back at least $2,000, and the average ticket is running closer to $4,000. The good news, sort of, is that there has been no inflation for the “Cheapest” seats since last year, when
Goldman Sachs cooked Greece books
http://www.youtube.com/v/U3xgAC0WiOo?version=3&f=user_uploads&app=youtube_gdata
Greece is being pressured to give all control of the Greek budget to the European Union, which it says threatens its national sovereignty.
See the original video here:
Goldman Sachs cooked Greece
Greece is being pressured to give all control of the Greek budget to the European Union, which it says threatens its national sovereignty.
See the original video here:
Goldman Sachs cooked Greece
Commerzbank CEO Says Greece Should Exit Eurozone
As if Merkel did not make it all too clear over the weekend that Germany no longer wishes Greece to be part of the Eurozone, and that the ball is now in Athens' court to accept what is a glaringly unfeasible demand, i.e., to hand over fiscal sovereignty over to "Europe" with Merkel having the cover of saying it did everything in its power to keep Greece in the union, here comes Commerzbank's CEO Mueller to pick up where Merkel left off:
COMMERZBANK'S MUELLER SAYS GREECE SHOULD EXIT EURO
COMMERZBANK'S MUELLER SAYS GREECE SHOULD EXIT EURO
Good Gendarme: Recently Downgraded France Opposes German Demands For Greek "Tutelage"
Whowouldathunk it - beggars can be choosers. The country which just slashed its economic outlook, and which depends on GermAAAn capital and goodwill to preserve its well-being in the Eurozone, has just decided to pull a good gendarme to Germany's bad and has voiced its opposition to German demands stripping Greece of its fiscal sovereignty.
SARKOZY REJECTS GREECE CEDING BUDGET MANAGEMENT TO EU
SARKOZY SAYS NO QUESTION OF PUTTING GREECE `UNDER TUTELAGE'
SARKOZY SAYS EU TAKEOVER OF
SARKOZY REJECTS GREECE CEDING BUDGET MANAGEMENT TO EU
SARKOZY SAYS NO QUESTION OF PUTTING GREECE `UNDER TUTELAGE'
SARKOZY SAYS EU TAKEOVER OF
Van Rompuy Barroso Sarkozy Live Press Conference - Webcast
Can't get enough of gravitationally-challenged presidents and Gollum wannabes? Then this webcast is for you. Oops, looks like no Sarko, just that D-grade actor Barroso. Oh well - both are completely irrelevant.
See the original article here:
Van Rompuy Barroso Sarkozy Live Press Conference -
See the original article here:
Van Rompuy Barroso Sarkozy Live Press Conference -
Credit And Financials Underperform As S&P Holds 1300
US equity markets went sideways to higher after the European close on low volumes and minimal support from broad risk drivers in general (with SPX bouncing off 1300). HYG tracked ES (the e-mini S&P 500 futures contract) higher as it tried to get back to unchanged (during an afternoon of notably smaller average trade size until the close which suggests covering by bigger players). HY and IG credit markets were not as ebullient as stocks and into the close HYG sold off relatively well to
David Morgan SILVER Update!
http://www.youtube.com/v/fqcxWIAGk3s?version=3&f=user_uploads&app=youtube_gdata
http://Silver-Investor.com
See the original video here:
David Morgan SILVER
http://Silver-Investor.com
See the original video here:
David Morgan SILVER
Listener Questions 1/27/12 Preview
http://www.youtube.com/v/X71Q68xM2Zk?version=3&f=user_uploads&app=youtube_gdata
Stephen from Fairhope, AL: I'm a young investor and have a large portion of my money in PIMCO Funds Total Return Fund Institutional Shares. I keep hearing about a bond bubble brewing and am wondering if you consider this a valid concern. I don't particularly like Bill Gross but he seems to make money for his investors. Do you think that I should bail?
Submit your webcast questions here:
Stephen from Fairhope, AL: I'm a young investor and have a large portion of my money in PIMCO Funds Total Return Fund Institutional Shares. I keep hearing about a bond bubble brewing and am wondering if you consider this a valid concern. I don't particularly like Bill Gross but he seems to make money for his investors. Do you think that I should bail?
Submit your webcast questions here:
A "Made in Canada" Keystone XL Pipeline Solution: Honorable Bob McLeod
http://www.youtube.com/v/2h79YBExelA?version=3&f=user_uploads&app=youtube_gdata
Honorable Bob McLeod, Premier of the Northwest Territories, joins Kitco News' Daniela Cambone to discuss his proposed solution/alternative to the Keystone XL pipeline plan. Jan. 27, 2012.
See the original video here:
A "Made in Canada" Keystone XL Pipeline Solution: Honorable Bob
Honorable Bob McLeod, Premier of the Northwest Territories, joins Kitco News' Daniela Cambone to discuss his proposed solution/alternative to the Keystone XL pipeline plan. Jan. 27, 2012.
See the original video here:
A "Made in Canada" Keystone XL Pipeline Solution: Honorable Bob
Panning for Gold with Yukon Dan
http://www.youtube.com/v/exI6YROm4ok?version=3&f=user_uploads&app=youtube_gdata
Yukon Dan (http://yukondan.com), a key figure from the Canadian Gold Rush who is also an historian and workshop master in the classroom, joins Kitco News' Daniela Cambone to provide us with a quick lesson on how to pan for gold. Yukon Dan has even been immortalized in the form of a cartoon (No Soap, Radio), which signs something along the lines of, "Yukon Dan was a mountain man, and he lived in the
Yukon Dan (http://yukondan.com), a key figure from the Canadian Gold Rush who is also an historian and workshop master in the classroom, joins Kitco News' Daniela Cambone to provide us with a quick lesson on how to pan for gold. Yukon Dan has even been immortalized in the form of a cartoon (No Soap, Radio), which signs something along the lines of, "Yukon Dan was a mountain man, and he lived in the
ACTA: “Would Usurp Congressional Authority”, "Threatens Numerous Public Interests", a "Backroom Special Interest Deal"
By Washington’s Blog
SOPA, PIPA, ACTA ... WHAT'S NEXT?
We just beat back SOPA and PIPA with the web blackout.
Now everyone is talking about ACTA. But - because ACTA is complicated, and is just starting to receive coverage - most are not sure exactly what ACTA really is, or why we should be concerned about it.
We'll give you an executive summary of what you need to know.
Instead of giving you the specifics about what's actually in the bill (we provide links at the end for those who want
SOPA, PIPA, ACTA ... WHAT'S NEXT?
We just beat back SOPA and PIPA with the web blackout.
Now everyone is talking about ACTA. But - because ACTA is complicated, and is just starting to receive coverage - most are not sure exactly what ACTA really is, or why we should be concerned about it.
We'll give you an executive summary of what you need to know.
Instead of giving you the specifics about what's actually in the bill (we provide links at the end for those who want
3 Months After The MF Global Bankruptcy, We Find That $1.2 Billion (Or More) In Client Money Has "Vaporized"
On the three month bankruptcy anniversary of the company whose rehypothecation gimmicks will one day be seen as a harbinger of everything that is broken with the multi-trillion ponzi system, but not just yet despite loud warnings otherwise, we are getting close to a final verdict of where the $1.2 billion (and possibly more as originally predicted by Zero Hedge - see below) in commingled client money may have gone. Note the use of the passive voice because using the active, as in money
Entering the Debt Dimension
Entering the Debt Dimension
Excerpt from Stock World Weekly
We ended last week’s newsletter explaining why we were not betting on an announcement for more quantitative easing by the Fed, although “consensus” economists claimed to be. We argued that additional QE was unlikely, citing our friends (Bruce Krasting, Lee Adler of the Wall Street Examiner, and Jon Hilsenrath - with his direct line to Bernanke). This week, those expecting easing were disappointed; there was no mention
Excerpt from Stock World Weekly
We ended last week’s newsletter explaining why we were not betting on an announcement for more quantitative easing by the Fed, although “consensus” economists claimed to be. We argued that additional QE was unlikely, citing our friends (Bruce Krasting, Lee Adler of the Wall Street Examiner, and Jon Hilsenrath - with his direct line to Bernanke). This week, those expecting easing were disappointed; there was no mention
Sunday, January 29, 2012
It's Official: German Economy Minister Demands Surrender Of Greek Budget Policy, Says It Is First Of Many Such Sovereign "Requests"
While over the past 2 days there may have been some confusion as to who, what, how or where is demanding that Greece abdicate fiscal sovereignty (with some of our German readers supposedly insulted by the suggestion that this idea originated in Berlin, and specifically with politicians elected by a majority of the German population), today's quotefest from German Economy Minister Philipp Roesler appearing in Germany's Bild should put any such questions to bed. And from this point on,
Creative Destruction: US Bancorp Buys Failed Institution in TN
“I want to be a ConsumerAnd do my duty well;For that is the thing that’s needed most,I’ve heard Economists tell.I’ve made up my mind,” the lad was heard,As he lit a cigar, to say;“I want to be a Consumer, Sir,And I want to begin today.”
Patrick BarringtonQuoted from The Failure of the New Economics, Henry Hazlitt (1959)
On Friday the FDIC reminded us that the banking crisis continues, closing and selling several institutions in arranged transactions. This may seem
Patrick BarringtonQuoted from The Failure of the New Economics, Henry Hazlitt (1959)
On Friday the FDIC reminded us that the banking crisis continues, closing and selling several institutions in arranged transactions. This may seem
Germany Frets As Bailouts And Risks Balloon
Wolf Richter www.testosteronepit.com
In her speech at the Davos World Economic Forum, Chancellor Angela Merkel warned that Germany might be overwhelmed by its efforts to bail out the Eurozone. Germany must not make promises that in the end can’t be kept, she said. It doesn't make sense to demand a doubling or tripling of Germany's contribution. "How long will that remain credible?" she asked.
The government’s reluctance has made Germany the favorite punching bag of the
In her speech at the Davos World Economic Forum, Chancellor Angela Merkel warned that Germany might be overwhelmed by its efforts to bail out the Eurozone. Germany must not make promises that in the end can’t be kept, she said. It doesn't make sense to demand a doubling or tripling of Germany's contribution. "How long will that remain credible?" she asked.
The government’s reluctance has made Germany the favorite punching bag of the
Guest Post: The Banker Tax
Submitted by Tim McCormick. Tim trades bonds in Texas
The Banker Tax
“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”
Henry Ford
Is it ok with you if we starve poor people to bail out Citibank again? Will you stand by and do nothing while seniors struggle to afford heating oil just to keep Bank of America solvent? The fundamental structure of our monetary
The Banker Tax
“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”
Henry Ford
Is it ok with you if we starve poor people to bail out Citibank again? Will you stand by and do nothing while seniors struggle to afford heating oil just to keep Bank of America solvent? The fundamental structure of our monetary
Iran Blinks, Delays Vote On European Crude Export Halt Even As US Escalates Military Developments Against Country
After it was the west backing down from further unnecessary escalation with Iran two weeks ago, when Israel and the US delayed indefinitely joint naval operations in the Arabian Gulf, it is now Iran's turn to blink. Following reports that Iran would pass a law halting crude exports to European countries, in advance of the full-blown embargo expected to take place some time by June, or as soon as European countries have found alternative supplies, we now learn that "Iran's parliament
Davos Post Mortem
And like that, this year's Davos World Economic Forum has come and gone, having achieved nothing except allowing a bunch of representatives of the status quo to feel even more self-righteous and important in the world's biggest annual circle jerk, in which fawning journalists ask the questions their cue cards demand, knowing too well their jobs are on the line if they ask anything even remotely provocative (and with the price of admission in the tens of thousands of dollars, one wonders
Gold & Silver: THE TRUTH
http://www.youtube.com/v/E-ShSGz89mA?version=3&f=user_uploads&app=youtube_gdata
http://www.goldsilver.com During Mike Maloney's recent appearance on RT he was given the chance to state where he thinks the economy is going and why. Be sure to subscribe to Mike's weekly newsletter at GoldSilver.com, and check out Capital Account with Lauren Lyster...great show: http://www.youtube.com/user/CapitalAccount
See the original video here:
Gold & Silver: THE
http://www.goldsilver.com During Mike Maloney's recent appearance on RT he was given the chance to state where he thinks the economy is going and why. Be sure to subscribe to Mike's weekly newsletter at GoldSilver.com, and check out Capital Account with Lauren Lyster...great show: http://www.youtube.com/user/CapitalAccount
See the original video here:
Gold & Silver: THE
Obama Bluffs on ReFi?
.
In his State of the Union speech, the President said:
Millions of innocent Americans have seen their home values decline. And while government can’t fix the problem on its own, responsible homeowners shouldn’t have to sit and wait for the housing market to hit
In his State of the Union speech, the President said:
Millions of innocent Americans have seen their home values decline. And while government can’t fix the problem on its own, responsible homeowners shouldn’t have to sit and wait for the housing market to hit
Goldman's Tom Stolper Conducts Sunday Hitfest On The USD
It is one thing for Tom Stolper to release precious tidbits about what is not going to happen in the future on a weekday - for those we are very grateful. But doing so on god's (or is that Goldman's) day is truly a first. In a note just blasted out, it would appear there is no rest for the Stolper, and according to the world's most admired FX strategist (remember: batting 0.000 is just as useful as batting 1.000), "Dollar downside forces on the rise" and that Goldman is positioned "short
Gold & Silver - Debt Collapse - $20,000 Gold - Mike Maloney on Economic Crisis
http://www.youtube.com/v/tj2s6vzErqY?version=3&f=user_uploads&app=youtube_gdata
http://www.goldsilver.com Mike Maloney is the author of the world's best selling book on precious metals investing. Since 2003 he has been advocating gold and silver as the ultimate means of protecting wealth from the games played by our governments and banking sector. In this 90 minute presentation he lays down his 'most likely' scenario for the global economy over the next deacde...short term
http://www.goldsilver.com Mike Maloney is the author of the world's best selling book on precious metals investing. Since 2003 he has been advocating gold and silver as the ultimate means of protecting wealth from the games played by our governments and banking sector. In this 90 minute presentation he lays down his 'most likely' scenario for the global economy over the next deacde...short term
The Overnight Gold Trade That's Up 1,700% Since 2001
Author:
Ed Steer
Yesterday in Gold and Silver
Ed_GSDJanuary 28, 2012 3:19pm GMT
Email
Print
I'm happy that Thursday was a quiet day in the gold market, as not much happened...and it was much the same yesterday up until shortly after the Comex opened in New York at 8:20 a.m.There was a small sell-off between 8:30 and 9:00 a.m. Eastern time that cancelled the smallish gain that occurred
Ed Steer
Yesterday in Gold and Silver
Ed_GSDJanuary 28, 2012 3:19pm GMT
I'm happy that Thursday was a quiet day in the gold market, as not much happened...and it was much the same yesterday up until shortly after the Comex opened in New York at 8:20 a.m.There was a small sell-off between 8:30 and 9:00 a.m. Eastern time that cancelled the smallish gain that occurred
Silver Update 1/28/12 Junk Silver 2
http://www.youtube.com/v/6efIV-n1_nU?version=3&f=user_uploads&app=youtube_gdata
Software Provided By Netdania.com http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx
Junk Silver Totals http://brotherjohnf.com/2012/01/27/united-states-junk-silver-totals-thanks-will-and-dave/
AFTER THE MELTS: WHAT'S LEFT IN SILVER COINS? http://www.pcgs.com/Articles/Detail/496
melting of pre1965 U.S. silver coins
Software Provided By Netdania.com http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx
Junk Silver Totals http://brotherjohnf.com/2012/01/27/united-states-junk-silver-totals-thanks-will-and-dave/
AFTER THE MELTS: WHAT'S LEFT IN SILVER COINS? http://www.pcgs.com/Articles/Detail/496
melting of pre1965 U.S. silver coins
RED ALERT: First NDAA "Indefinite Detention", Now Our Right to Bear Arms
http://www.youtube.com/v/NeWM6w3tR9M?version=3&f=user_uploads&app=youtube_gdata
If you thought the NDAA S.1867 was a nightmare, now they want our ammunition, and by proxy - our guns. This is the line in the sand. The Second Amendment is all we have standing between the people and a devastating tyranny.
New Jersey: Assembly Committee to Consider Ammo Ban & More
http://www.nraila.org/Legislation/Read.aspx?ID=7301
Music: "Dragon and Toast" by Kevin MacLeod (incompetech.com) Licensed
If you thought the NDAA S.1867 was a nightmare, now they want our ammunition, and by proxy - our guns. This is the line in the sand. The Second Amendment is all we have standing between the people and a devastating tyranny.
New Jersey: Assembly Committee to Consider Ammo Ban & More
http://www.nraila.org/Legislation/Read.aspx?ID=7301
Music: "Dragon and Toast" by Kevin MacLeod (incompetech.com) Licensed
Saturday, January 28, 2012
Chris Martenson Interviews John Mauldin: "It's Time to Make the Hard Decisions"
Submitted by Chris Martenson
Back in the 1930's, Irving Fisher introduced a concept called the 'debt supercycle.' Simply put, it posits that when there is a buildup of too much debt within an economy, there reaches a point where there simply is no other available solution but to let it rewind.
We are at that point in our economy, as are most other major economies around the world, claims John Maudlin, author of the popular Thoughts from the Frontline newsletter and the recent bestselling
Back in the 1930's, Irving Fisher introduced a concept called the 'debt supercycle.' Simply put, it posits that when there is a buildup of too much debt within an economy, there reaches a point where there simply is no other available solution but to let it rewind.
We are at that point in our economy, as are most other major economies around the world, claims John Maudlin, author of the popular Thoughts from the Frontline newsletter and the recent bestselling
Greece Politely Declines German Annexation Demands
Following yesterday's frankly stunning news that the Troika politely requests that Greece hand over its first fiscal, then pretty much all other, sovereignty to "Europe", here is the Greek just as polite response to the Troika's foray into outright colonialism:
GREEK GOVERNMENT SPOKESMAN DECLARES THAT THE BUDGET IS SOLELY ITS RESPONSIBILITY - DJ
What is interesting here is that unlike the highly irrelevant IIF negotiations which will end in a Greek default one way or another, the real
GREEK GOVERNMENT SPOKESMAN DECLARES THAT THE BUDGET IS SOLELY ITS RESPONSIBILITY - DJ
What is interesting here is that unlike the highly irrelevant IIF negotiations which will end in a Greek default one way or another, the real
Cutting Into Muscle - The Record Corporate Margin Juggernaut Has Just Rolled Over
In this week's chartology from Goldman's David Kostin there is the usual plethora of useful data, but two slides deserve a very special mention because with 39% of the S&P already reporting Q4 data, the implication is quite dire. If Kostin is correct, then the corporate margin juggernaut, which recently hit an all time high in Q3 of 2011, and which has for all intents and purposes been the one offset to deteriorating economic conditions, recurring Fed stimuli to the economy aside, has
Tomorrow And Tomorrow And Tomorrow: The IIF Is Full Of Sound And Fury, Signifying Nothing
Just one recursive headline to fool them all, and in the darkness run away.
h/t Andrew Yorks
See the original article here:
Tomorrow And Tomorrow And Tomorrow: The IIF Is Full Of Sound And Fury, Signifying
h/t Andrew Yorks
See the original article here:
Tomorrow And Tomorrow And Tomorrow: The IIF Is Full Of Sound And Fury, Signifying
Gerald Celente - Talk Radio Europe - 24 January 2012
http://www.youtube.com/v/v0tMzHixucw?version=3&f=user_uploads&app=youtube_gdata
Trends Journal: http://www.trendsresearch.com/journal
Twitter: http://twitter.com/geraldcelente
See the original video here:
Gerald Celente - Talk Radio Europe - 24 January
Trends Journal: http://www.trendsresearch.com/journal
Twitter: http://twitter.com/geraldcelente
See the original video here:
Gerald Celente - Talk Radio Europe - 24 January
Resist!
http://www.youtube.com/v/PavuumOnd0E?version=3&f=user_uploads&app=youtube_gdata
WARNING!!! This video contains graphic images!!! Viewer discretion is advised!! This video is based on an article that has been circulating the web for some time now and the link is here http://www.forliberty.org.uk/2012/01/02/never-surrender-a-resolution-for-2012-and-beyond/ . Never surrender your freedom to anyone under any circumstances, resist!
See the original video
WARNING!!! This video contains graphic images!!! Viewer discretion is advised!! This video is based on an article that has been circulating the web for some time now and the link is here http://www.forliberty.org.uk/2012/01/02/never-surrender-a-resolution-for-2012-and-beyond/ . Never surrender your freedom to anyone under any circumstances, resist!
See the original video
Is This Why US Rail Traffic Is So Strong?
Also, if we were Mexico (or is that East LA?) we would be nervous. Very, very nervous. On the other hand, long-opressed Mexican crude may soon be liberated.
See the original article here:
Is This Why US Rail Traffic Is So
See the original article here:
Is This Why US Rail Traffic Is So
Debt Ceiling 101, Santelli Sounds Off
In an effort to reach the angry mob, CNBC's Rick Santelli goes all Sesame Street on the numbers behind the US Debt Ceiling Rise. Focusing for two minutes on what this practically means for every man, woman, child, and politician, the shouting Chicagoan points out that when the US breaches this new limit then the world's entire population will be on the hook for $2,346 each (and $52,409 per US person).
See the original article here:
Debt Ceiling 101, Santelli Sounds
See the original article here:
Debt Ceiling 101, Santelli Sounds
Explaining Modern Finance And Economics Using Booze And Broke Alcoholics
Courtesy of reszatonline, who brings us the following allegory by way of Tim Coldwell, we are happy to distill (no pun intended) all of modern economics and finance in a narrative that is 500 words long, and involved booze and broke alcoholics: in other words everyone should be able to understand the underlying message. And while the immediate application of this allegory is to explain events in Europe, it succeeds in capturing all the moving pieces of modern finance.
From
From
Friday, January 27, 2012
Is High Yield Credit Over-Extended?
"Reach for yield" is a phrase that never gets old, does it? Whether it's the "why hold Treasuries when a stock has a great dividend?" or "if this bond yields 3% then why not grab the 7% yield bond - it's a bond, right?" argument, we constantly struggle with the 100% focus on return (yield not capital appreciation) and almost complete lack of comprehension of risk - loss of capital (or why the yield/risk premium is high). Arguing over high-yield valuations is at once a focus on
DAVOS 2012: WoRLD PoNZiNoMiC SuMMiT C0MMeMoRaTiVe FeBRuaRY CaLeNDaR (THe GReaT PoNZiNaMi)
Download: Click the image through to desired size and download.
See the original article here:
DAVOS 2012: WoRLD PoNZiNoMiC SuMMiT C0MMeMoRaTiVe FeBRuaRY CaLeNDaR (THe GReaT
See the original article here:
DAVOS 2012: WoRLD PoNZiNoMiC SuMMiT C0MMeMoRaTiVe FeBRuaRY CaLeNDaR (THe GReaT
The Silent Anschluss: Germany Formally Requests That Greece Hand Over Its Fiscal Independence
Update 2: the first local headlines are coming in now, from Spiegel: Griechenland soll Kontrolle über Haushalt abgeben (loosely Greece must give up domestic control), and Kathimerini: Germany proposes Greece relinquish some fiscal powers, sources say
Update: Formal Greek annexation order attached.
It was tried previously (several times) under "slightly different" circumstances, and failed. Yet when it comes to taking over a country without spilling even one drop of blood, and converting
Update: Formal Greek annexation order attached.
It was tried previously (several times) under "slightly different" circumstances, and failed. Yet when it comes to taking over a country without spilling even one drop of blood, and converting
Endgame Begins - UK "Foreign Office Sources Say Merkel Now Thinks Greece Will Default"
Courtesy of the BBC's Andrew Neil, on the back of the previously noted formal annexation demand of Greece by Germany:
Of course, this is what we, and everyone else whose frontal lobe has not bee hijacked by the status quo, said back in January 2010...
JP Morgan and Morgan Stanley better pray they are right when they say they are 100% insulated from contagion, because we are all about to find out.
See the original article here:
Endgame Begins - UK "Foreign Office Sources Say
Of course, this is what we, and everyone else whose frontal lobe has not bee hijacked by the status quo, said back in January 2010...
JP Morgan and Morgan Stanley better pray they are right when they say they are 100% insulated from contagion, because we are all about to find out.
See the original article here:
Endgame Begins - UK "Foreign Office Sources Say
Abysmal news for Greek Bonds and Debt Swap Negotiations
Once again, hope is pervading the media that an agreement might be reached between the Greek government and private sector investors on a debt swap, maybe even this weekend, though everyone is hobnobbing at the World Economic Forum in Davos where all sorts of things have already been said and leaked between drinks. EU Finance Commissioner Olli Rehn was the bearer of the good news: the 50% haircut, though now judged insufficient by practically everyone, appears to be in the can, and
Weekly Bull/Bear Recap: January 23-27, 2012
Submitted by Rational Capitalist Speculator
Weekly Bull/Bear Recap: January 23-27, 2012
Bull
+ The ECB’s Long-Term Refinancing Operation (LTRO) has clearly quelled fears of an imminent liquidity crisis; Spanish and Italian 10-yr yields have plunged. The operation will provide time for policymakers to forge ahead with structural reforms. Germany is opening the door for pro-growth policies in the periphery. Furthermore, Greece is an isolated case. A Greek default is already priced
Weekly Bull/Bear Recap: January 23-27, 2012
Bull
+ The ECB’s Long-Term Refinancing Operation (LTRO) has clearly quelled fears of an imminent liquidity crisis; Spanish and Italian 10-yr yields have plunged. The operation will provide time for policymakers to forge ahead with structural reforms. Germany is opening the door for pro-growth policies in the periphery. Furthermore, Greece is an isolated case. A Greek default is already priced
Largest Central Banks Now Hold Over 15 Trillion in Fictitious Capital
Russ focuses on Japan's problems in this article, but Japan's not alone when it comes to the list of countries with ponzi-like financial systems. ~ Ilene
Largest Central Banks Now Hold Over 15 Trillion in Fictitious Capital
Courtesy of Russ Winter of Winter Watch at Wall Street Examiner
I could not help noticing that China’s imports from Japan fell 16.2pc in December. Imports from Taiwan fell 6.2pc. The strong yen strikes again: Honda decides to build a high-performance
Largest Central Banks Now Hold Over 15 Trillion in Fictitious Capital
Courtesy of Russ Winter of Winter Watch at Wall Street Examiner
I could not help noticing that China’s imports from Japan fell 16.2pc in December. Imports from Taiwan fell 6.2pc. The strong yen strikes again: Honda decides to build a high-performance
Is Europe Starting To Derisk?
While the ubiquitous pre-European close smash reversal in EURUSD (up if day-down and down if day-up) was largely ignored by risk markets today (as ES - the e-mini S&P 500 futures contract - did not charge higher and in fact rejected its VWAP three times), some cracks in the wondrously self-fulfilling exuberance that is European's solved crisis are appearing. For the first day in a long time (year to date on our data), European stocks significantly diverged (negatively) from credit
Tim Price talks to Dominic Frisby about wealth management
http://www.youtube.com/v/6GRVfh3RaEo?version=3&f=user_uploads&app=youtube_gdata
Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. Tim Price, of Moneyweek, and Dominic Frisby, of the GoldMoney Foundation, talk about the unprecedented banking and debt crisis. Tim explains that their main objective at present is capital preservation.
They discuss the extraordinary situation of the US Treasury market, which are deemed a safe haven despite representing a debt burden
Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. Tim Price, of Moneyweek, and Dominic Frisby, of the GoldMoney Foundation, talk about the unprecedented banking and debt crisis. Tim explains that their main objective at present is capital preservation.
They discuss the extraordinary situation of the US Treasury market, which are deemed a safe haven despite representing a debt burden
No Gold & Silver Daily Today
Yesterday in Gold and Silver
Ed_GSDJanuary 27, 2012 1:26pm GMT
Email
Print
Dear Gold & Silver Daily Reader,We know you are used to getting your daily dose of goldbug Ed Steer’s assessments of the markets, but unfortunately Ed has caught another type of bug this week. He says he’s sicker than he’s been in 20 years – so please understand that there will be no edition of Gold & Silver Daily today – and maybe not tomorrow either. In the meantime,
Ed_GSDJanuary 27, 2012 1:26pm GMT
Dear Gold & Silver Daily Reader,We know you are used to getting your daily dose of goldbug Ed Steer’s assessments of the markets, but unfortunately Ed has caught another type of bug this week. He says he’s sicker than he’s been in 20 years – so please understand that there will be no edition of Gold & Silver Daily today – and maybe not tomorrow either. In the meantime,
Silver Update 1/26/12 Bill of Rights
http://www.youtube.com/v/cHuna3CoQmM?version=3&f=user_uploads&app=youtube_gdata
Software Provided By Netdania.com http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx
Scottsdale Silver http://store.scottsdalesilver.com/product/60/FIJI-TAKU-1-oz-Silver-Tube-of-20-oz
2012 1 oz Silver Australian Koala shipping Feb 6th http://www.gainesvillecoins.com/products/159109/2012-1-oz-silver-australian-koala.aspx
2012 Koala
Software Provided By Netdania.com http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx
Scottsdale Silver http://store.scottsdalesilver.com/product/60/FIJI-TAKU-1-oz-Silver-Tube-of-20-oz
2012 1 oz Silver Australian Koala shipping Feb 6th http://www.gainesvillecoins.com/products/159109/2012-1-oz-silver-australian-koala.aspx
2012 Koala
2011 New Home Sales Fall To Record Low, Median New Home Price At Lowest Since October 2010
Looks like the earlier analysis that the US is slowly morphing into a second Japan just got even more confirmation. According to the Census Bureau (not NAR data, which we will hence ignore completely due to its consistent bias, error and overall worthlessness) December New Home Sales declined from 321K to a seasonally adjusted annualized rate of 307K in December, on expectations of a rise to 321K from last month's revised 315K. On a non-seasonally adjusted basis the US sold a whopping 21K
I Present To You The First Probable US Commercial Real Estate Insolvency Of Many To Come
In this post I will present to BoomBustBlog subscribers evidence of the next GGP. For those who don't know the GGP story, it was the nation's 2nd largest
All payingBoomBustBlog subscribers are prompted to download theSample Property Valuationdocument which highlghts the dramatic discrepancies between actual cash flow valuations and the valuation that our subject company is carrying its portfolio inventory at. This document must be read in conjunction with theCashflows and Debt
All payingBoomBustBlog subscribers are prompted to download theSample Property Valuationdocument which highlghts the dramatic discrepancies between actual cash flow valuations and the valuation that our subject company is carrying its portfolio inventory at. This document must be read in conjunction with theCashflows and Debt
Guest Post: AAA Rating or Not - Crowd Sourced Wikirating Values Your Input
Submitted by Toni Straka of The Prudent Investor
AAA Rating or Not - Crowd Sourced Wikirating Values Your Input
Recent downgrades of European government and bank debt have fuelled the discussion on the establishment of a new European rating agency. This will bring no relief, as long as Euro politicians will be eager to exert influence in such a new entity, can be concluded after their accusations that S&P's move on January 13 was politically motivated.
Undisclosed rating processes on a
AAA Rating or Not - Crowd Sourced Wikirating Values Your Input
Recent downgrades of European government and bank debt have fuelled the discussion on the establishment of a new European rating agency. This will bring no relief, as long as Euro politicians will be eager to exert influence in such a new entity, can be concluded after their accusations that S&P's move on January 13 was politically motivated.
Undisclosed rating processes on a
Thursday, January 26, 2012
Dow Highest Since May 2008? Maybe Not?
The headlines are crowing of the magnificent CAT earnings (channel stuffing?) which in turn is helping the Dow reach its highest point since May 2008 (CAT is responsible for 27 of the Dow's 30 point gain today alone). This must be the signal that we-the-consuming-people need to borrow-and-spend again right? Well, no. Unfortunately, as many already know, the process of indexing is implicitly flawed in many ways - most importantly survivorship bias. If we compare the performance of the
Update: America Has A $16.4 Trillion Debt Ceiling In 52-44 Senate Vote
Update: the Senate has failed to reject a bid to stop the debt ceiling hike with a simple 52 vote majority all of it along party lines. The US now has $16.4 trillion in debt capacity as of Friday. Since roughly $100 billion was plundered from Pension Funds in the past month, The US will have about $15.4 trillion in debt with the Monday DTS. The question then is how long will the $1 trillion in debt capacity last: at $125 billion/month it won't be enough to carry the US past the election
Next Steps: Presenting The Definitive Greek End Game Flow Chart
Confused by the Greece situation? Dizzied by the PSI haircuts, retractive CACs, Troika promises, ECB participations, local vs non-local law implications, CDS triggers, and ultimately contagion concerns? Fear no more (just like Jamie Dimon apparently) as Barclays presents the definitive Greek End-Game Scenario decision tree.
Click on the image for a larger view and note that the further we move to the right the more likely contagion becomes a large concern. Of course, the key is not
Click on the image for a larger view and note that the further we move to the right the more likely contagion becomes a large concern. Of course, the key is not
Has Bernanke Become A Gold Bug's Best Friend?
Below we present the indexed return of ES (or stocks) and of gold over the past 24 hours since the Bernanke announcement of virtually infinite ZIRP, and the latent threat of QE3 any time the Russell 2000 has a downtick. It is unnecessary to point out just when Bernanke made it all too clear that the Fed has nothing left up its sleeve, expect to directly compete with the ECB over "whose (balance sheet) is bigger," as it is quite obvious. What is not so obvious, is that for all intents and
The Fed Cannot Move Without a Crisis… And One is Coming
Well the Fed disappointed as I stated it would. How anyone could be surprised by this is beyond me. The Fed was admitting that the consequences of QE rendered it less “attractive” as an option as far back as May 2011.
Moreover, the last six months have shown the Fed to be relying heavily on verbal intervention rather than direct monetary intervention. Every FOMC meeting (and any time the market takes a dive) some Fed official steps forward and promises that the Fed stands ready
Moreover, the last six months have shown the Fed to be relying heavily on verbal intervention rather than direct monetary intervention. Every FOMC meeting (and any time the market takes a dive) some Fed official steps forward and promises that the Fed stands ready
DeMint: If Dems keep Senate, the GOP primary doesn't matter
http://www.youtube.com/v/_6_Xs1qlTCM?version=3&f=user_uploads&app=youtube_gdata
The Peter Schiff Show with special guest Senator Jim DeMint
January 26 2012
Follow me on Twitter @SchiffRadio
Friend me on Facebook.com/PeterSchiff
See the original video here:
DeMint: If Dems keep Senate, the GOP primary doesn't
The Peter Schiff Show with special guest Senator Jim DeMint
January 26 2012
Follow me on Twitter @SchiffRadio
Friend me on Facebook.com/PeterSchiff
See the original video here:
DeMint: If Dems keep Senate, the GOP primary doesn't
How The Most Hated Stocks Became The Most Loved In A Few Short Days
Last week we pointed out the seemingly bizarro strategy that by now must have become mainstream mantra that buy-and-hold is dead but buy-the-dips-in-the-most-hated-stocks is a winning strategy. Since we pointed this out, our index of the 30 most shorted stocks has surged by 5% compared to a measly 2% (Fed-assisted) gain in the S&P itself. It appears the break with reality started on Tuesday morning (pre-empting the Fed high beta ramp?) and today's sell-off is seeing the index of the
On Jamie Dimon's Track Record Of Predicting Greek Outcomes
The US market appears modestly enthused by earlier remarks from Jamie Dimon (who ironically is of Greek descent) who told CNBC that "The direct impact of a Greek default is almost zero." Note the phrase "Greek default" because it takes us back to that long ago June of 2011 when Jamie Dimon was again giving predictions about events in Greece. In this case, the summary goes to Bloomberg, which penned a piece titled: "JPMorgan’s Dimon Says Greece Won’t Default, Australian
Presenting The Interactive "Wiggle-Room Index" Or Which Countries Will Be Forced To Bail Out The Developed World
Update: literally seconds after this article was posted, we receive news that the IMF will seek Saudi contribution to the European bailout fund. There you have it - you enjoy that implicit US protection Saudi emirs? It is about to cost you.
While it is best to pray that NASA will find some very rich and not so intelligent life on Mars so it can bail out the world as it sinks deeper and deeper into a untenable debt hole (which somehow can be "filled" only by issuing more debt at least
While it is best to pray that NASA will find some very rich and not so intelligent life on Mars so it can bail out the world as it sinks deeper and deeper into a untenable debt hole (which somehow can be "filled" only by issuing more debt at least
Financials Have Worst Day Of Year As Fed Is Faded
We noted last night that heavy and large average trade size was going through after the cash market close in S&P futures and it seemed overnight we needed one more push to flush out some more chasers before today's less than euphoric macro prints (aside from CFNAI's market-centric index) stalled the Fed-induced excitement. Financials had their worst day of the year (worst performing sector 2 days in a row), down just under 1% as did the Tech and Energy sectors as Utilities were best
Guest Post: Gold Bonds: Averting Financial Armageddon
Written by and © by Keith Weiner
Gold Bonds: Averting Financial Armageddon
After the near-collapse of the financial system in 2008, a growing number of people have come to realize that our monetary disease is terminal. It is that group to whom I address this paper. I sincerely hope that this group includes leaders in business, finance, and government.
I do not believe that my proposal herein is necessarily “realistic” (i.e. pragmatic). There are many interest groups that may
Gold Bonds: Averting Financial Armageddon
After the near-collapse of the financial system in 2008, a growing number of people have come to realize that our monetary disease is terminal. It is that group to whom I address this paper. I sincerely hope that this group includes leaders in business, finance, and government.
I do not believe that my proposal herein is necessarily “realistic” (i.e. pragmatic). There are many interest groups that may
Other Side of the Hyperinflation Story: Danielle Park (Juggling Dynamite; Venable Park)
http://www.youtube.com/v/5kR5_fgVZC4?version=3&f=user_uploads&app=youtube_gdata
Danielle Park, editor of "Juggling Dynamite", joins Kitco News' Daniela Cambone from the 2012 Vancouver Resource Investment Conference to discuss why she does not believe that hyperinflation is necessarily the only and inevitable outcome of the current debt crises throughout the world. Jan. 26, 2012.
See the original video here:
Other Side of the Hyperinflation Story: Danielle Park (Juggling
Danielle Park, editor of "Juggling Dynamite", joins Kitco News' Daniela Cambone from the 2012 Vancouver Resource Investment Conference to discuss why she does not believe that hyperinflation is necessarily the only and inevitable outcome of the current debt crises throughout the world. Jan. 26, 2012.
See the original video here:
Other Side of the Hyperinflation Story: Danielle Park (Juggling
Expect Broad Trading Range: David Morgan (Silver-Investor.com)
http://www.youtube.com/v/ssUSVGx1wD0?version=3&f=user_uploads&app=youtube_gdata
David Morgan of Silver-Investor.com joins Kitco News from the Vancouver Resource Investment Conference to discuss the current "seasonality" in the market and why he believes we should expect a broad trading range throughout the first 6-months of this year. For Kitco News, Daniela Cambone reports. Jan. 26, 2012.
See the original video here:
Expect Broad Trading Range: David Morgan
David Morgan of Silver-Investor.com joins Kitco News from the Vancouver Resource Investment Conference to discuss the current "seasonality" in the market and why he believes we should expect a broad trading range throughout the first 6-months of this year. For Kitco News, Daniela Cambone reports. Jan. 26, 2012.
See the original video here:
Expect Broad Trading Range: David Morgan
Ron Paul & Maloney Hit It Out Of The Park - Gold, Silver & Debt Based Monetary System
http://www.youtube.com/v/E-ShSGz89mA?version=3&f=user_uploads&app=youtube_gdata
http://www.goldsilver.com During Mike Maloney's recent appearance on RT he was given the chance to state where he thinks the economy is going and why. Be sure to subscribe to Mike's weekly newsletter at GoldSilver.com, and check out Capital Account with Lauren Lyster...great show: http://www.youtube.com/user/CapitalAccount
See the original video here:
Ron Paul & Maloney Hit It Out Of The Park -
http://www.goldsilver.com During Mike Maloney's recent appearance on RT he was given the chance to state where he thinks the economy is going and why. Be sure to subscribe to Mike's weekly newsletter at GoldSilver.com, and check out Capital Account with Lauren Lyster...great show: http://www.youtube.com/user/CapitalAccount
See the original video here:
Ron Paul & Maloney Hit It Out Of The Park -
Silver Update 1/25/12 Junk Silver
http://www.youtube.com/v/EgYJ_uiWN0Y?version=3&f=user_uploads&app=youtube_gdata
Silver Update 1/25/12 Junk Silver
Software Provided By Netdania.com http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx
Silver For The People -- The Blog http://brotherjohnf.com/
Apmex Junk Silver http://www.apmex.com/Category/17/90_Silver_Generic_Bags.aspx
how much junk silver was minted?
Silver Update 1/25/12 Junk Silver
Software Provided By Netdania.com http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx
Silver For The People -- The Blog http://brotherjohnf.com/
Apmex Junk Silver http://www.apmex.com/Category/17/90_Silver_Generic_Bags.aspx
how much junk silver was minted?
And The Winner Is...Gold
Year-to-date, Gold is up an impressive 9.4%, significantly outpacing the S&P 500 at +5.6% and the disappointing 2% loss (in price) for the 30Y bond.
Treasuries sold back off initial knee-jerk rally low yields into the close but the EUR kept going (holding above 1.3100) as Gold and Silver were the big winners on the day (+2.9% and 3.4% on the week now). Stocks and credit roared higher after an initial stumble post FOMC. Financials lagged among all the S&P sectors (and Utilities outperformed
Treasuries sold back off initial knee-jerk rally low yields into the close but the EUR kept going (holding above 1.3100) as Gold and Silver were the big winners on the day (+2.9% and 3.4% on the week now). Stocks and credit roared higher after an initial stumble post FOMC. Financials lagged among all the S&P sectors (and Utilities outperformed
Bad AAPL, Good Fedo
From Peter Tchir of TF Market Advisors
Bad AAPL, Good Fedo
In spite of earnings that crushed it for Apple, broader indices struggled to show much strength overnight and slid on the back of some weak earnings out of Europe and growing concerns that few people at the Greek PSI negotiating table have a clue. The comments coming out of the ECB seem more absurd than anything, but I was very surprised how isolated the strength in the market was to Apple (and Nat Gas where UNG is up close to 20%
Bad AAPL, Good Fedo
In spite of earnings that crushed it for Apple, broader indices struggled to show much strength overnight and slid on the back of some weak earnings out of Europe and growing concerns that few people at the Greek PSI negotiating table have a clue. The comments coming out of the ECB seem more absurd than anything, but I was very surprised how isolated the strength in the market was to Apple (and Nat Gas where UNG is up close to 20%
Give Me Liberty Or Give Me PATH : 27 Manhattan-Based Fidelity Employees Refuse To Relocate To New Jersey, Quit
It may be the worst possible job market for financial professionals in years but sometimes one has to draw the line. Like when moving across the Hudson river from Manhattan's One World Financial Center building to Jersey City - that may well be the only logical time when one is allowed to say: "I don't care about my bloated bonus or underserved compensation to buy the same stock that everyone else is buying. I quit." Not surprisingly 27 Fidelity employees have done just that. As the
Scared by PM Volatility? Identify Severe Undervaluation Points in Gold & Silver v. Trying to Call Perfect Bottoms
For a new investor in gold and silver, here is the most lucid piece of advice I can offer. Identifying severe undervaluation points in gold and silver, buying gold and silver assets during these times, and not worrying about interim short-term volatility, even if the immediate volatility is downward, is much more likely to impact your accumulation of wealth in a positive manner than trying to perfectly time market tops and bottoms in the highly manipulated gold and silver game. I am
Rumors Start Early: Greek Creditors "Ready To Accept" 3.75% Cash Coupon But With Untenable Conditions
As a reminder, the primary reason why the Greek PSI deal "officially" broke down last week, is because the European Fin Mins balked at the creditor group proposal of a 4%+ cash coupon. So now that creditor talks, which incidentally don't have a soft deadline so they can continue indefinitely, or until the money runs out on March 20, whichever comes first, have resumed we already are getting the first totally unsubstantiated "leaks" that negotiations are on the right path. As various US
Wednesday, January 25, 2012
Bernanke Goes All In
Bernanke Goes All In
Courtesy of Bruce Krasting
Well, we got an inflation target from the Fed. Basically, thinking at the Fed has been eliminated. The process has been automated. Bernanke has convinced the Fed board to adopt Core PCE as a determinate of monetary policy. So long as CPCE stays below 2%, Ben is going to have his foot planted on the monetary metal. It’s “full speed ahead” according to the Chairman. He's pushed things off until 2014 - a very long time from now.
My
Courtesy of Bruce Krasting
Well, we got an inflation target from the Fed. Basically, thinking at the Fed has been eliminated. The process has been automated. Bernanke has convinced the Fed board to adopt Core PCE as a determinate of monetary policy. So long as CPCE stays below 2%, Ben is going to have his foot planted on the monetary metal. It’s “full speed ahead” according to the Chairman. He's pushed things off until 2014 - a very long time from now.
My
DaVoS 2012: WoRLD PoNZiNoMiC SuMMiT
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View the Full Length Banzai7 World Ponzinomic Summit Slide Presentation:
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See the original article here:
DaVoS 2012: WoRLD PoNZiNoMiC
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View the Full Length Banzai7 World Ponzinomic Summit Slide Presentation:
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See the original article here:
DaVoS 2012: WoRLD PoNZiNoMiC
Surveys: CEOs Are Binging on False Hope
Wolf Richter www.testosteronepit.com
We finally have statistical proof that CEOs are ... a confusing bunch. The just released survey by PWC International shows that CEOs in 60 countries are exhibiting signs of gloom about the economy but not their own companies. German CEOs, who are facing the Eurozone debt crisis on a daily basis, aren’t feeling the pain, according to Ifo’s indices. The New York Fed’s Empire State Manufacturing Survey points at spiking optimism. And all
We finally have statistical proof that CEOs are ... a confusing bunch. The just released survey by PWC International shows that CEOs in 60 countries are exhibiting signs of gloom about the economy but not their own companies. German CEOs, who are facing the Eurozone debt crisis on a daily basis, aren’t feeling the pain, according to Ifo’s indices. The New York Fed’s Empire State Manufacturing Survey points at spiking optimism. And all
The Real State of the Union
http://www.youtube.com/v/LtBH4t4VY2A?version=3&f=user_uploads&app=youtube_gdata
The Schiff Report - January 25th 2012
I covered Obama's SOTU address in more depth on my radio show at www.schiffradio.com
Follow me on Twitter @SchiffRadio.com
Friend me on Facebook.com/PeterSchiff
See the original video here:
The Real State of the
The Schiff Report - January 25th 2012
I covered Obama's SOTU address in more depth on my radio show at www.schiffradio.com
Follow me on Twitter @SchiffRadio.com
Friend me on Facebook.com/PeterSchiff
See the original video here:
The Real State of the
Watch Bernanke's Press Conference Live
Because live is better than dead. And just in case he lets one slip just what his price target for the Russell 2000 (aka the US GDP) is and how much gold the Fed will secretly lease. As a reminder, from Alan Greenspan testimony to Congress in July 1998: "Central banks stand ready to lease gold in increasing quantities should the price rise."
See the original article here:
Watch Bernanke's Press Conference
See the original article here:
Watch Bernanke's Press Conference
New "Stolper" Is Out, Says To Go Bullish EURUSD, With 1.29 Stop
The one we have all been waiting for. Stolper about to be 9 out of 9 with a 0.000 hit rate.
The latest Eurozone PMIs have been better than expected and are now consistent with slightly positive growth.
At the same time, Eurozone policymakers continue to make gradual progress on the ESM and Fiscal Compact Treaties. Finally, the Fed has surprised markets with a more long-dated interest rate guidance than expected. In particular the Fed now expects "exceptionally low levels for the
The latest Eurozone PMIs have been better than expected and are now consistent with slightly positive growth.
At the same time, Eurozone policymakers continue to make gradual progress on the ESM and Fiscal Compact Treaties. Finally, the Fed has surprised markets with a more long-dated interest rate guidance than expected. In particular the Fed now expects "exceptionally low levels for the
Market Now Pricing In $770 Billion Increase In Fed Balance Sheet
As we have pointed out previously, the primary if not only driver of relative risk returns (because in a world of relative fiat value destruction, it is all relative, except for gold which is revalued relative to all on a pro rata basis), will be who of the big two - the Fed and the ECB - can print more. And up until now, at least since the end of December when the market "suddenly" realized that the ECB's balance sheet has soared to unseen records, the consensus was that it was the
T-Minus 11 Months Until Geithner Resignation
Easily the best news of the day:
GEITHNER SAYS OBAMA WOULDN'T ASK HIM TO STAY FOR A SECOND TERM - BBG
Oh well, life is tough. Surely that basement office at Goldman Sachs will have some daylight and a TruboTax manual to make post-administrative life bearable for Geithner.
More from Bloomberg:
"He’s not going to ask me to stay on, I’m pretty confident,” Geithner says in an interview with Bloomberg Television.
"Confident" Obama will win second term
Not concerned about Wall Street
GEITHNER SAYS OBAMA WOULDN'T ASK HIM TO STAY FOR A SECOND TERM - BBG
Oh well, life is tough. Surely that basement office at Goldman Sachs will have some daylight and a TruboTax manual to make post-administrative life bearable for Geithner.
More from Bloomberg:
"He’s not going to ask me to stay on, I’m pretty confident,” Geithner says in an interview with Bloomberg Television.
"Confident" Obama will win second term
Not concerned about Wall Street
Some Notes On NFLX's Q4 Results
While the stock of NFLX is soaring in the after-hours session on what is perceived to be a big blow out of consensus, and yet another massive if brief short squeeze, we have had a chance to take a look at the actual excel support behind the data, completely free of contextual spin as per the investor letter. Here are some of our findings.
Netflix generated $33.9MM in "Free Cash Flow". Of this $25.6MM was from change in Net Working Capital; this compares to ($7.6MM) drain from NWC in
Netflix generated $33.9MM in "Free Cash Flow". Of this $25.6MM was from change in Net Working Capital; this compares to ($7.6MM) drain from NWC in
Ignore the Noise
www.southofwallstreet.com
In today’s comments from David Rosenberg (well worth the subscription) he presents a quote from Dr. Lacy Hunt of Hoisington Investment Management that struck me as particularly insightful. We would all be better equity investors, long and short, applying the same logic to company fundamentals. However, noise is plentiful in a High Frequency world and commotion drives revenue for service providers.
See the original article here:
Ignore the
In today’s comments from David Rosenberg (well worth the subscription) he presents a quote from Dr. Lacy Hunt of Hoisington Investment Management that struck me as particularly insightful. We would all be better equity investors, long and short, applying the same logic to company fundamentals. However, noise is plentiful in a High Frequency world and commotion drives revenue for service providers.
See the original article here:
Ignore the
Guest Post: Something's Fishy in Tripoli
Submitted by Daniel J. Graeber of Oilprice.com
Something's Fishy in Tripoli
Way back in early 2011, members of the U.N. Security Council had no problem getting a resolution through that authorized military force in Libya ostensibly to protect civilians from attacks by forces loyal to strongman Moammar Gadhafi. The year before, lawmakers on both sides of the Atlantic were bickering over who did what and why in terms of the cancer-stricken Lockerbie bomber. This Scottish decision to
Something's Fishy in Tripoli
Way back in early 2011, members of the U.N. Security Council had no problem getting a resolution through that authorized military force in Libya ostensibly to protect civilians from attacks by forces loyal to strongman Moammar Gadhafi. The year before, lawmakers on both sides of the Atlantic were bickering over who did what and why in terms of the cancer-stricken Lockerbie bomber. This Scottish decision to
SILVER & GOLD CURRENCY AND MINERS David Morgan interviewed by Cambridge House Live
http://www.youtube.com/v/nrplT4wH5MI?version=3&f=user_uploads&app=youtube_gdata
www.http://silver-investor.com
David Morgan predicts the U.S. has another 2 or 3 years before the currency collapses. He also stakes out his predictions on where gold and silver are headed in the next year.
See the original video here:
SILVER & GOLD CURRENCY AND MINERS David Morgan interviewed by Cambridge House
www.http://silver-investor.com
David Morgan predicts the U.S. has another 2 or 3 years before the currency collapses. He also stakes out his predictions on where gold and silver are headed in the next year.
See the original video here:
SILVER & GOLD CURRENCY AND MINERS David Morgan interviewed by Cambridge House
Adrian Day: "We Need to Look at China" - Jan. 24, 2012
http://www.youtube.com/v/3Wr1gsOXT0M?version=3&f=user_uploads&app=youtube_gdata
Adrian Day joins Kitco News from the Vancouver Resource Investment Conference to discuss why he believes Chinese markets require crucial and increased focus and scrutiny. For Kitco News, Daniela Cambone reports. Jan. 25, 2012.
See the original video here:
Adrian Day: "We Need to Look at China" - Jan. 24,
Adrian Day joins Kitco News from the Vancouver Resource Investment Conference to discuss why he believes Chinese markets require crucial and increased focus and scrutiny. For Kitco News, Daniela Cambone reports. Jan. 25, 2012.
See the original video here:
Adrian Day: "We Need to Look at China" - Jan. 24,
Where Are The Emerging Market Risk Bombs?
As European bank deleveraging continues, Middle East tensions rise, and oil prices (Brent and Crude alike) oscillate from headline to headline, we thought it intriguing that the entities with net notional outstandings in CDS markets at or near their largest in history are China (and Chinese banks), LatAm Oil companies, Abu Dhabi, and Israel. Quite a crop of potential risk bombs that at least credit traders appear to demand protection on more than others.
Via JPMorgan's CDS Outstanding
Via JPMorgan's CDS Outstanding
No QE3; ZIRP Extended Thru 2014 As Jeffrey Lacker Objects - Full December-January Statement Comparison
Little of note in the statement: no QE3 explicitly in the form of LSAP, which an S&P over 1300 and crude at $100 made prohibitive. Instead the Fed is extending ZIRP through 2014, from 2013, which as commentarors, primarily Goldman had expected, and which means sub-3 year rates will never be above zero again. Our prediction for a €100 trillion 1 week MRO is not looking quite as insane anymore. Since this is incremental easing, the reaction in gold says it all.
Summary headlines via
Summary headlines via
FOMC Statement Market Reaction
UPDATE: Stocks leaking back now
TSYs are 5-10bps lower in yield (aside from 30Y), ES (and credit) rallying but underperforming on a beta basis to TSY/EUR, EUR stronger 1.3050 now (USD weaker), and precious metals jumping.
Treasury yields tumble (and curve steepens)
Silver on a tear but gold still underperforming USD weakness for now. Copper not excited for now.
EURUSD back at 1.3050 highs of week
Gold specifically today is ripping...above $1685 now
HYG remains underperformer (leading)
TSYs are 5-10bps lower in yield (aside from 30Y), ES (and credit) rallying but underperforming on a beta basis to TSY/EUR, EUR stronger 1.3050 now (USD weaker), and precious metals jumping.
Treasury yields tumble (and curve steepens)
Silver on a tear but gold still underperforming USD weakness for now. Copper not excited for now.
EURUSD back at 1.3050 highs of week
Gold specifically today is ripping...above $1685 now
HYG remains underperformer (leading)
Gold Extending Gains On Realization Fed's Only Option Is CTRL+P
Presented with little comment, Gold is now at $1693, about to take out $1700 and the best performing asset class of the year: YTD: Gold +8.2%, S&P +4.9%, 30Y TSY price -1.44%. Furthermore, since this FOMC statement implies more easing imminent, it simply delays full blown LSAP so its "effectiveness", read max Russell 2000, peaks with Obama's reelection campaign.
Chart: Bloomberg
See the original article here:
Gold Extending Gains On Realization Fed's Only Option Is
Chart: Bloomberg
See the original article here:
Gold Extending Gains On Realization Fed's Only Option Is
Gerald Celente - ABC Australia Adelaide - 19 January 2012
http://www.youtube.com/v/lJzPNQaX1c0?version=3&f=user_uploads&app=youtube_gdata
Trends Journal: http://www.trendsresearch.com/journal
Twitter: http://twitter.com/geraldcelente
See the original video here:
Gerald Celente - ABC Australia Adelaide - 19 January
Trends Journal: http://www.trendsresearch.com/journal
Twitter: http://twitter.com/geraldcelente
See the original video here:
Gerald Celente - ABC Australia Adelaide - 19 January
Frontrunning: January 25
Angela Merkel casts doubt on saving Greece from financial meltdown (Guardian)
Germany Rejects ‘Indecent’ Call to ECB on Greece, Meister Says (Bloomberg)
Obama Calls for Higher Taxes on Wealthy (Bloomberg)
Fed set to push back timing of eventual rate hike (Reuters)
Recession Looms As UK Economy Shrinks By 0.2%, more than expected (SKY)
King Says BOE Can Increase Bond Purchases If Needed to Meet Inflation Goal (Bloomberg)
When One Quadrillion Yen is not enough: Japan's first trade
Germany Rejects ‘Indecent’ Call to ECB on Greece, Meister Says (Bloomberg)
Obama Calls for Higher Taxes on Wealthy (Bloomberg)
Fed set to push back timing of eventual rate hike (Reuters)
Recession Looms As UK Economy Shrinks By 0.2%, more than expected (SKY)
King Says BOE Can Increase Bond Purchases If Needed to Meet Inflation Goal (Bloomberg)
When One Quadrillion Yen is not enough: Japan's first trade
Goldman Now Aggressively Selling Apple To Clients, Hikes Price Target To $600
In case one was wondering how the Goldman trading team was axed in Apple, we now know that they are pushing their inventory of stock in the name out of the door and to clients harder than ever, having just released a forecast with a $600 price target. However, with nearly 200 hedge fund holders in the name, and pregnant to the teeth in the stock, we fail to find who the incremental buyer of GS' AAPL stock will be.
From the report:
We are raising our estimates after this quarter’s
From the report:
We are raising our estimates after this quarter’s
Juan Ramón Rallo and Alasdair Macleod talk about the Spanish economy, gold and silver
http://www.youtube.com/v/CU-eTqYVXbs?version=3&f=user_uploads&app=youtube_gdata
Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. In this video Juan Ramón Rallo, economist and university professor in Madrid, and Alasdair Macleod of the GoldMoney Foundation talk about the Spanish economy, gold and silver.
Rallo sees growing interest in the teachings of Austrian economics, because it's the only school that provides a theory of the business cycle in relation to
Subscribe to our newsletter at http://www.goldmoney.com/goldresearch. In this video Juan Ramón Rallo, economist and university professor in Madrid, and Alasdair Macleod of the GoldMoney Foundation talk about the Spanish economy, gold and silver.
Rallo sees growing interest in the teachings of Austrian economics, because it's the only school that provides a theory of the business cycle in relation to
Gold for Oil? India and Iran Ditch the Dollar?
Author:
Ed Steer
Yesterday in Gold and Silver
Ed_GSDJanuary 25, 2012 10:28am GMT
Email
Print
The gold price did little in Far East trading on Tuesday. But, as is frequently the case, the high in the Far East came just before the London open...and it was, as is also frequently the case, all down hill from there...with the low of the day coming shortly after 9:00 a.m. in New York.After
Ed Steer
Yesterday in Gold and Silver
Ed_GSDJanuary 25, 2012 10:28am GMT
The gold price did little in Far East trading on Tuesday. But, as is frequently the case, the high in the Far East came just before the London open...and it was, as is also frequently the case, all down hill from there...with the low of the day coming shortly after 9:00 a.m. in New York.After
Tuesday, January 24, 2012
The Game Of The State Of The Union
While watching the live-stream of Obama's third State Of The Union speech here, why not enjoy BNP's 'p(o)ints game'?
JOIN THE LIVE CHAT
VISIT WHITEHOUSE.GOV
Thanks to BNP's Bricklin Dwyer for the 'game' below and for noting that Obama's approval rating is 44% (approval has tracked the stock market/GDP higher since October's sub-40% trough) versus a disapproval rating of 47%.
For those looking for the over/under on the speech length, Obama's speeches have averaged 1:05:27 (and
JOIN THE LIVE CHAT
VISIT WHITEHOUSE.GOV
Thanks to BNP's Bricklin Dwyer for the 'game' below and for noting that Obama's approval rating is 44% (approval has tracked the stock market/GDP higher since October's sub-40% trough) versus a disapproval rating of 47%.
For those looking for the over/under on the speech length, Obama's speeches have averaged 1:05:27 (and
Full Text And Word Cloud Of Obama's State Of The Union
SOTU Post Mortem:
The best news possible: "Nothing will get done this year, or next year, or maybe even the year after that." Barack Hussein Obama
The worst news: Everything else.
Here is the text of President Barack Obama’s State of the Union Address as prepared for delivery at 9 p.m. ET.
"Jobs" 33 vs. "Fat Cats" 0
Rich 3 vs Poor 1
Hope 2 vs Unicorns 0
Change 9 vs Tooth-Fairy 0
Mortgages 5 vs Apple 0
Main Street 1 vs Wall Street 3
DEBT CEILING 0
Here is Obama's SOTU word
The best news possible: "Nothing will get done this year, or next year, or maybe even the year after that." Barack Hussein Obama
The worst news: Everything else.
Here is the text of President Barack Obama’s State of the Union Address as prepared for delivery at 9 p.m. ET.
"Jobs" 33 vs. "Fat Cats" 0
Rich 3 vs Poor 1
Hope 2 vs Unicorns 0
Change 9 vs Tooth-Fairy 0
Mortgages 5 vs Apple 0
Main Street 1 vs Wall Street 3
DEBT CEILING 0
Here is Obama's SOTU word
Paying Lip Service To Saving The Eurozone
Wolf Richter www.testosteronepit.com
"The case of Greece is hopeless," Otmar Issing said today during an interview. He should know. He was a member of the Executive Board of the Bundesbank and of the Governing Council of the ECB. Another substantive voice in an increasingly loud chorus.
But it’s legally impossible to kick Greece out of the Eurozone. So he suggested a procedure: Tell the country that it has to implement reforms as a condition for financial help. When
"The case of Greece is hopeless," Otmar Issing said today during an interview. He should know. He was a member of the Executive Board of the Bundesbank and of the Governing Council of the ECB. Another substantive voice in an increasingly loud chorus.
But it’s legally impossible to kick Greece out of the Eurozone. So he suggested a procedure: Tell the country that it has to implement reforms as a condition for financial help. When
Guest Post: The Loan: An Exchange Of Wealth For Income
Submitted by Keith Warner
The Loan: An Exchange Of Wealth For Income
As the title of this essay suggests, a loan is an exchange of wealth for income. Like everything else in a free market (imagine happier days of yore), it is a voluntary trade. Contrary to the endemic language of victimization, both parties regard themselves as gaining thereby, or else they would not enter into the transaction.
In a loan, one party is the borrower and the other is the lender. Mechanically, it
The Loan: An Exchange Of Wealth For Income
As the title of this essay suggests, a loan is an exchange of wealth for income. Like everything else in a free market (imagine happier days of yore), it is a voluntary trade. Contrary to the endemic language of victimization, both parties regard themselves as gaining thereby, or else they would not enter into the transaction.
In a loan, one party is the borrower and the other is the lender. Mechanically, it
Fantastic Mr. Frum: How he learned to stop worrying and love debt, deficits, and the dollar
http://www.youtube.com/v/DN__ibqOePs?version=3&f=user_uploads&app=youtube_gdata
The Peter Schiff Show
January 24th 2012
Follow me on Twitter @SchiffRadio
Friend me on Facebook.com/PeterSchiff
See the original video here:
Fantastic Mr. Frum: How he learned to stop worrying and love debt, deficits, and the
The Peter Schiff Show
January 24th 2012
Follow me on Twitter @SchiffRadio
Friend me on Facebook.com/PeterSchiff
See the original video here:
Fantastic Mr. Frum: How he learned to stop worrying and love debt, deficits, and the
Rally Coming Out of January - Frank Holmes (U.S. Global Investors)
http://www.youtube.com/v/AA3UbaYAwjI?version=3&f=user_uploads&app=youtube_gdata
Frank Holmes of U.S. Global Investors joins Kitco News from the 2012 Cambridge House Vancouver Resource Investment Conference to discuss the rally coming out of January. For Kitco News, Daniela Cambone reports. (Jan. 23, 2011)
Part of Kitco News' continued coverage of the 2012 Vancouver Resource Investment Conference, visit here for full coverage and the chance to win a set of rare silver coins:
Frank Holmes of U.S. Global Investors joins Kitco News from the 2012 Cambridge House Vancouver Resource Investment Conference to discuss the rally coming out of January. For Kitco News, Daniela Cambone reports. (Jan. 23, 2011)
Part of Kitco News' continued coverage of the 2012 Vancouver Resource Investment Conference, visit here for full coverage and the chance to win a set of rare silver coins:
My
http://www.youtube.com/v/AsINNDRRHZ4?version=3&f=user_uploads&app=youtube_gdata
See the original video
See the original video
The Ron Paul FIX is in: a SGT micro-doc
http://www.youtube.com/v/qRPldELzZXA?version=3&f=user_uploads&app=youtube_gdata
The Ron Paul FIX is in: a SGT micro-doc
http://sgtreport.com/
Music: "Atlantean Twighlight and "Tenebrous Carnival, Mermaid" by Kevin MacLeod (incompetech.com) Licensed under Creative Commons "Attribution 3.0" http://creativecommons.org/licenses/by/3.0/"
http://creativecommons.org/licenses/by/3.0/legalcode
"Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair
The Ron Paul FIX is in: a SGT micro-doc
http://sgtreport.com/
Music: "Atlantean Twighlight and "Tenebrous Carnival, Mermaid" by Kevin MacLeod (incompetech.com) Licensed under Creative Commons "Attribution 3.0" http://creativecommons.org/licenses/by/3.0/"
http://creativecommons.org/licenses/by/3.0/legalcode
"Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair
Intervention in Libya Was Largely About Gold: Jim Rickards
Author:
Ed Steer
Yesterday in Gold and Silver
Ed_GSDJanuary 24, 2012 10:50am GMT
Email
Print
The gold price was up about ten bucks by the time lunchtime rolled around in London yesterday, but by 9:30 a.m. in New York, all that gain had disappeared. From that low, gold rallied about fifteen bucks to just above the $1,681 spot level, before selling off a hair into the close of electronic
Ed Steer
Yesterday in Gold and Silver
Ed_GSDJanuary 24, 2012 10:50am GMT
The gold price was up about ten bucks by the time lunchtime rolled around in London yesterday, but by 9:30 a.m. in New York, all that gain had disappeared. From that low, gold rallied about fifteen bucks to just above the $1,681 spot level, before selling off a hair into the close of electronic
Monday, January 23, 2012
American Defense and Intelligence Chiefs: Attacking Iran Will INCREASE Odds that Iran Will Build a Nuclear Bomb
By Washington’s Blog
Foreign Policy reports:
President George W. Bush’s administrncouragedation concluded that a military strike on Iran’s nuclear facilities would be a bad idea — and would only make it harder to prevent Iran from going nuclear in the future, former CIA and National Security Agency (NSA) chief Gen. Michael Hayden said Thursday.
“When we talked about this in the government, the consensus was that would guarantee that which we are trying to prevent
Foreign Policy reports:
President George W. Bush’s administrncouragedation concluded that a military strike on Iran’s nuclear facilities would be a bad idea — and would only make it harder to prevent Iran from going nuclear in the future, former CIA and National Security Agency (NSA) chief Gen. Michael Hayden said Thursday.
“When we talked about this in the government, the consensus was that would guarantee that which we are trying to prevent
Monday Market Musings - More Monetary Madness
Monday Market Musings - More Monetary Madness
By Phil of Phil's Stock World
More Free Money - OR ELSE!
That's the rally cry from the new IMF chief (appointed under mysterious circumstances). Lagarde gives the cry in Berlin this morning as she warns that the world will descent into the 1930s without - among other things - greater resources being devoted to various bailout mechanisms - the EFSF, the ESM, and of course, the IMF.
As we turn the page on a turbulent year, a year in
By Phil of Phil's Stock World
More Free Money - OR ELSE!
That's the rally cry from the new IMF chief (appointed under mysterious circumstances). Lagarde gives the cry in Berlin this morning as she warns that the world will descent into the 1930s without - among other things - greater resources being devoted to various bailout mechanisms - the EFSF, the ESM, and of course, the IMF.
As we turn the page on a turbulent year, a year in
10 Good And Bad Things About The Economy And Rosenberg On Whether This Isn't Still Just A Modern Day Depression
Two things of note in today's Rosie piece. On one hand he breaks out the 10 good and bad things that investors are factoring, and while focusing on the positive, and completely ignoring the negative, are pushing the market to its best start since 1997. As Rosie says: "The equity market has gotten off to its best start in a good 15 years and being led by the deep cyclicals (materials, homebuilders, semiconductors) and financials — last year's woeful laggards (the 50 worst performing
The Art Of Extortion: Now At The IMF
Wolf Richter www.testosteronepit.com
Treasury Secretary “Hank” Paulson was the trailblazer with his proposal for TARP in September 2008. He walked into the Capitol with a list of demands—unlimited powers to hand unlimited amounts of taxpayer money to whomever—and threatened that the whole world would collapse if his demands weren’t met immediately.
When Congress didn’t go for it, markets fell off a cliff, and Paulson’s world of finance appeared to come to an end. So
Treasury Secretary “Hank” Paulson was the trailblazer with his proposal for TARP in September 2008. He walked into the Capitol with a list of demands—unlimited powers to hand unlimited amounts of taxpayer money to whomever—and threatened that the whole world would collapse if his demands weren’t met immediately.
When Congress didn’t go for it, markets fell off a cliff, and Paulson’s world of finance appeared to come to an end. So
Portugal Reenters Bailout Radar As Traders Realize Greek "Rescue" Model Is Not Feasible Here
Remember when Europe was fixed, if only for a few weeks? Those were the times, too bad they are now officially over. EURUSD is back under 1.30 in thin volume because even as we "shockingly" find that, no, Greece did not have the "upper hand" since Greek bondholder negotiations just broke down (and that over the matter of a cash coupon delta between 3.5% and 4.0%, which implicitly means that from a bondholder IRR perspective, when taking a 15 cent EFSF Bill into consideration, the hedge
Global Economic 'Mojo' Still Lacking
As of Q3 2011, the citizens of less than 20% of the countries involved in Nielsen's Global Consumer Confidence, Concerns, and Spending Intentions Survey were on average confident in their future economic confidence. Not surprisingly, Nic Colas of ConvergEx points out, six were in Asia, the least confident were in Eastern and Peripheral European nations, and furthermore overall global consumer confidence remains 9.3% below 2H 2006 (and 6.4% below Q4 2010) readings as the global economy
Citadel Is Pleased To Announce It Is Now Officially An Executive Headhunter, And A Travel Agency To Boot
You know, just in case that whole investment banking, equity research, high frquency trading, hedge fund thing does not work out, Citadel always has a plan B - to become an executive headunter. From Ken Griffen's annual letter: "We actively follow the careers of countless individuals across the competitive landscape in the interest of finding people who will strengthen our team and enhance our performance. Our talent database contains over 150,000 resumes, of which approximately 25,000
Greek Debt Deal Rejected As S&P Begins European Bank Downgrades
At least they were kind enough to wait until the close:
EURO ZONE FINANCE MINISTERS REJECT OFFER OF GREEK PSI REACHED WITH PRIVATE BONDHOLDERS, ASK NEGOTIATORS TO CONSIDER COUPON ON NEW GREEK BONDS BELOW 4 PCT-EURO ZONE SOURCES - RTRS
EURO FALLS VERSUS DOLLAR AFTER EURO ZONE FINANCE MINISTERS REJECT GREEEK PSI OFFER
Translation: Greece demands that the coupon on its fresh start 30 Year bonds to be below 4%, or roughly in line with US 30 year paper. Good luck guys!
But, but, Marathon
EURO ZONE FINANCE MINISTERS REJECT OFFER OF GREEK PSI REACHED WITH PRIVATE BONDHOLDERS, ASK NEGOTIATORS TO CONSIDER COUPON ON NEW GREEK BONDS BELOW 4 PCT-EURO ZONE SOURCES - RTRS
EURO FALLS VERSUS DOLLAR AFTER EURO ZONE FINANCE MINISTERS REJECT GREEEK PSI OFFER
Translation: Greece demands that the coupon on its fresh start 30 Year bonds to be below 4%, or roughly in line with US 30 year paper. Good luck guys!
But, but, Marathon
80%+ Immediate Downside To Par For New Greek "Fresh Start" Bonds
One of the funny things about the proposed Greek debt exchange offer is that, at least according to most recent fluid rumor, the cash coupon ceiling on the "post reorg" bonds, as dictated by the European finance ministers, will be 4% (hedge funds want more). So let's assume 3.5% for argument's sake. Perhaps the fact that the cash coupon of the US 30 Year note is roughly the same is somewhat concerning, because call us skeptical but Greek credit quality may be just a little worse than that
Goldman Previews The Fed's Statement, Plays Down Expectations Of A "Dovish Surprise"
As widely expected by Zero Hedge, barely a few months after the arrival of former Goldmanite Mario Draghi to head ECB, the ECB's balance sheet exploded by nearly $1 trillion. Naturally, such is the way of central banks infiltrated by tentacles of the squid: no surprises. Which brings us to the first Fed meeting of 2012 and its public manifestation: the FOMC's January 25 statement. As is well known, while the Goldman addition to the ECB is a recent development, its agent at the Fed,
Boston Bruins Goaltender Releases Statement Explaining Absence From Obama Meeting
While his colleagues from the Boston Bruins were visitng the White House earlier today, goaltender Tim Thomas was absent. Here is his personal explanation for why he did what he did. We can only hope more role-models follow in his footsteps.
Thomas statement on White House absence (via the NHL)
"I believe the Federal government has grown out of control, threatening the Rights, Liberties, and Property of the People.
This is being done at the Executive, Legislative, and Judicial
Thomas statement on White House absence (via the NHL)
"I believe the Federal government has grown out of control, threatening the Rights, Liberties, and Property of the People.
This is being done at the Executive, Legislative, and Judicial
Austrian vs. Keynesian economics
http://www.youtube.com/v/-ysUm7bOGuo?version=3&f=user_uploads&app=youtube_gdata
Watch the full 28-minute video at http://www.goldmoney.com/rallo-macleod-interview. In this video Juan Ramón Rallo, economist and university professor in Madrid, and Alasdair Macleod of the GoldMoney Foundation talk about Austrian and Keynesian economics.
Rallo sees growing interest in the teachings of Austrian economics, because it's the only school that provides a theory of the business cycle in
Watch the full 28-minute video at http://www.goldmoney.com/rallo-macleod-interview. In this video Juan Ramón Rallo, economist and university professor in Madrid, and Alasdair Macleod of the GoldMoney Foundation talk about Austrian and Keynesian economics.
Rallo sees growing interest in the teachings of Austrian economics, because it's the only school that provides a theory of the business cycle in
The ECB; Europe's debt; and the US dollar
http://www.youtube.com/v/YckEaA-qnjA?version=3&f=user_uploads&app=youtube_gdata
Watch the full 28-minute video at http://www.goldmoney.com/rallo-macleod-interview. In this video Juan Ramón Rallo, economist and university professor in Madrid, and Alasdair Macleod of the GoldMoney Foundation talk about Europe and the ECB.
While Rallo thinks that the ECB will finally resort to money printing, the right thing to do would be to privatise public assets in order to bring down debt
Watch the full 28-minute video at http://www.goldmoney.com/rallo-macleod-interview. In this video Juan Ramón Rallo, economist and university professor in Madrid, and Alasdair Macleod of the GoldMoney Foundation talk about Europe and the ECB.
While Rallo thinks that the ECB will finally resort to money printing, the right thing to do would be to privatise public assets in order to bring down debt
Gold's role as money
http://www.youtube.com/v/PIewGQxkTwE?version=3&f=user_uploads&app=youtube_gdata
Watch the full 28-minute video at http://www.goldmoney.com/rallo-macleod-interview. In this video Juan Ramón Rallo, economist and university professor in Madrid, and Alasdair Macleod of the GoldMoney Foundation talk about the role of gold as money.
Rallo states that fiat money does not lead to equilibrium, because it does not fulfill the basic functions of money. Therefore the market is always on the
Watch the full 28-minute video at http://www.goldmoney.com/rallo-macleod-interview. In this video Juan Ramón Rallo, economist and university professor in Madrid, and Alasdair Macleod of the GoldMoney Foundation talk about the role of gold as money.
Rallo states that fiat money does not lead to equilibrium, because it does not fulfill the basic functions of money. Therefore the market is always on the
Why buy silver as a monetary asset
http://www.youtube.com/v/VMevTVFk0tk?version=3&f=user_uploads&app=youtube_gdata
Watch the full 28-minute video at http://www.goldmoney.com/rallo-macleod-interview. In this video Juan Ramón Rallo, economist and university professor in Madrid, and Alasdair Macleod of the GoldMoney Foundation talk about silver's monetary role.
Rallo says that Silver used to be a monetary asset in the past and still has a role for lower payments, however, he doesn't see as strong monetary demand for
Watch the full 28-minute video at http://www.goldmoney.com/rallo-macleod-interview. In this video Juan Ramón Rallo, economist and university professor in Madrid, and Alasdair Macleod of the GoldMoney Foundation talk about silver's monetary role.
Rallo says that Silver used to be a monetary asset in the past and still has a role for lower payments, however, he doesn't see as strong monetary demand for
Gordon Chang (Forbes) on Chinese Inflation and Gold - 2012 Vancouver Resource
http://www.youtube.com/v/ARfRGA1i5Ho?version=3&f=user_uploads&app=youtube_gdata
Gordon Chang, Forbes contributor and author of several books, including "Nuclear Showdown: Korea Takes on the World" and "The Coming Collapse of China" joins Kitco News' Daniela Cambone from the 2012 Cambridge House Vancouver Resource Investment Conference to discuss gold, Chinese inflation and more. (Jan. 22, 2012)
Part of Kitco News' continued coverage of the 2012 Vancouver Resource Investment
Gordon Chang, Forbes contributor and author of several books, including "Nuclear Showdown: Korea Takes on the World" and "The Coming Collapse of China" joins Kitco News' Daniela Cambone from the 2012 Cambridge House Vancouver Resource Investment Conference to discuss gold, Chinese inflation and more. (Jan. 22, 2012)
Part of Kitco News' continued coverage of the 2012 Vancouver Resource Investment
Tick By Tick Research Email - Monetary Easing vs Treasury Yields
Dear All
Ever since Captain Ben turned his printer off in March of last year, the world has been a wash with rumours of when the latest round of "easing", or more simply "fiat currency printing", will occur. Seen as some form of financial saviour, the process of monetary printing has managed to successfully inflate markets and provide the appearance of policy success. However, as we all know, not even the bearded superman can stop the impending global recession that will be
Ever since Captain Ben turned his printer off in March of last year, the world has been a wash with rumours of when the latest round of "easing", or more simply "fiat currency printing", will occur. Seen as some form of financial saviour, the process of monetary printing has managed to successfully inflate markets and provide the appearance of policy success. However, as we all know, not even the bearded superman can stop the impending global recession that will be
Forget China, 'System D' Is World's Second Largest Economy (Infographic)
By EconMatters
A recent article at Foreign Policy noted that the $10 trillion global black market is now the world’s fastest growing economy, and that in 2009, the OECD concluded that half the world’s workers (almost 1.8 billion people) were employed in the shadow economy.
By 2020, the OECD predicts the shadow economy will employ two-thirds of the world’s workers. This new economy even has a name: ‘System D’.
According to an IMF economic study, black market, also called
A recent article at Foreign Policy noted that the $10 trillion global black market is now the world’s fastest growing economy, and that in 2009, the OECD concluded that half the world’s workers (almost 1.8 billion people) were employed in the shadow economy.
By 2020, the OECD predicts the shadow economy will employ two-thirds of the world’s workers. This new economy even has a name: ‘System D’.
According to an IMF economic study, black market, also called
10 Predictions For 2012 From BlackRock's Bob Doll
By EconMatters
Bob Doll, chief investment officer at the world's biggest money manager-- BlackRock ($3.6 trillion in assets), who has produced an annual prediction for over a decade, just published his 10 predictions for 2012:
The European debt crisis begins to ease, even as Europe experiences a recession.
The US economy continues to muddle through yet again.
Despite slowing growth, China and India contribute more than half of the world’s economic growth.
US earnings grow
Bob Doll, chief investment officer at the world's biggest money manager-- BlackRock ($3.6 trillion in assets), who has produced an annual prediction for over a decade, just published his 10 predictions for 2012:
The European debt crisis begins to ease, even as Europe experiences a recession.
The US economy continues to muddle through yet again.
Despite slowing growth, China and India contribute more than half of the world’s economic growth.
US earnings grow
EURUSD Passes 1.30 On Early Rumor Greece, IIF Reach Agreement
When we predicted on Thursday that the most recent record number of EUR shorts would take the EURUSD over 1.30 on Friday following a spurious rumor that the IIF and Greece had reached a deal, it turns out we were one work day off. As it happens, the EURUSD has just taken out 1.3000 following an FT Deutschland report that Greece and the IIF have reached a broad agreement. It would be funny if only it wasn't so predictable. The source- unidentified government officials. Either way, it
Goldman Tells Clients To Short US 10 Year Treasurys
As of a few hours ago, Goldman's Francesco Garzarelli has officially told the firm's clients to go ahead and short 10 Year Treasurys via March 2012 futures, with a 126-00 target. While Garzarelli is hardly Stolper (and we will have more on the latest Stolpering out in a second), the fact that Goldman is now openly buying Treasurys two days ahead of this week's FOMC statement makes us wonder just how much of a rates positive statement will the Fed make on Wednesday at 2:15 pm. From Goldman:
Frontrunning: January 23
IMF begging ECB for cash, ECB begging Germany for cash... all is well: Lagarde Says Europe Must Boost Firewall (WSJ)
More rumors of inflation targeting: Bernanke near inflation target prize, but jobs a concern (Reuters)
A Sears Wager Stings at Goldman (WSJ)
Draghi Makes Euro Favorite for Most-Profitable Carry Trades With Rate Cuts (Bloomberg)
Euro zone finance ministers to rule on Greek debt talks (Reuters)
"Reserve Currency" - Iran Said to Seek Yen Oil Payments From India Amid Sanctions
More rumors of inflation targeting: Bernanke near inflation target prize, but jobs a concern (Reuters)
A Sears Wager Stings at Goldman (WSJ)
Draghi Makes Euro Favorite for Most-Profitable Carry Trades With Rate Cuts (Bloomberg)
Euro zone finance ministers to rule on Greek debt talks (Reuters)
"Reserve Currency" - Iran Said to Seek Yen Oil Payments From India Amid Sanctions
Greek Deal - "Rumor Off"
The "risk on" phases lasted a whole 3 hours (thank you FT Deutschland for forcing the latest EURUSD short squeeze round). And now, for the other side:
CYPRUS FINANCE MINISTER NOT SURE GREEK RESTRUCTURING WILL BE CONCLUDED THIS WEEK
EVERYTHING IS OPEN ON GREEK DEBT TALKS - CYRPUS FINANCE MINISTER
As expected. As further expected, look this rumor to be refuted, confirmed, refuted, and finally confirmed at least 10 more times before the end of the day, even as hedge funds are preparing to
CYPRUS FINANCE MINISTER NOT SURE GREEK RESTRUCTURING WILL BE CONCLUDED THIS WEEK
EVERYTHING IS OPEN ON GREEK DEBT TALKS - CYRPUS FINANCE MINISTER
As expected. As further expected, look this rumor to be refuted, confirmed, refuted, and finally confirmed at least 10 more times before the end of the day, even as hedge funds are preparing to
Currency Wars - Iran Banned From Trading Gold and Silver
From GoldCore
Currency Wars - Iran Banned From Trading Gold and Silver
Gold’s London AM fix this morning was USD 1,675.00, GBP 1,076.55, and EUR 1,294.94 per ounce.
Friday's AM fix was USD 1,646.00, GBP 1,064.68, and EUR 1,274.29 per ounce.
Cross Currency Table - Bloomberg
Gold has risen in all currencies today and bullion up nearly 1 % to $1,675/oz. Gold rose 1.7% last week has risen more than 6% so far this year.
Gold jumped to its highest in more than a month as result of the
Currency Wars - Iran Banned From Trading Gold and Silver
Gold’s London AM fix this morning was USD 1,675.00, GBP 1,076.55, and EUR 1,294.94 per ounce.
Friday's AM fix was USD 1,646.00, GBP 1,064.68, and EUR 1,274.29 per ounce.
Cross Currency Table - Bloomberg
Gold has risen in all currencies today and bullion up nearly 1 % to $1,675/oz. Gold rose 1.7% last week has risen more than 6% so far this year.
Gold jumped to its highest in more than a month as result of the
Daily US Opening News And Market Re-Cap: January 23
From RanSquawk
Greece has been unable to find a compromise in bondholder negotiations this weekend, however, Greek Finance Minister Venizelos has said he is ready to conclude PSI agreements on time.
European equity markets are trading in positive territory with financials leading the move higher. Particular strength observed in Italian banks.
Market Re-Cap Macro news from Europe has refuted claims made last week that the ESM fund would be doubled to EUR 1tln, with a German spokesman
Greece has been unable to find a compromise in bondholder negotiations this weekend, however, Greek Finance Minister Venizelos has said he is ready to conclude PSI agreements on time.
European equity markets are trading in positive territory with financials leading the move higher. Particular strength observed in Italian banks.
Market Re-Cap Macro news from Europe has refuted claims made last week that the ESM fund would be doubled to EUR 1tln, with a German spokesman
Lightning Hits Again: Latest Anti-Stolper EURUSD Fade Closed Out With 317 Pips Profit In Two Weeks
Just as certain as death and taxes, fading Goldman's FX "Strategist" has once again made everyone rich. Back on January 6 when the 0.000-batting FX guru said "With considerable downside risk in the short term, within our regular 3-month forecasting horizon, the key questions are about the speed and magnitude of the initial sell-off. If we had to publish forecasts on a 1- and 2-month horizon, we could see EUR/$ reach 1.20. In other words, we expect the EUR/$ sell-off to continue for now as
Sunday, January 22, 2012
Interactive Visual History Of Financial Crises Since 1810 - Note Where The Fed Arrives
As the name implies. What is funny is how only after the advent of the Federal Reserve in 1913 did Financial crises expose increasingly more of world GDP to a crisis state. But at least the Fed and ECB tell us all they do is enforce price stabeeletee. Could they be lying!? We thought it was all the gold standard's fault for causing unprecedented economic volatility... Guess not. From History Shots: "The giant wave in the top section of the graphic depicts the percentage of world GDP by
Activism-In-Motion
After months of increasingly aggressive shareholder activism, the long-standing co-CEOs (Balisillie and Lazaridis) of the struggling Blackberry maker have resigned as the former COO takes over as CEO and former-exchange executive takes over as chairperson.
RESEARCH IN MOTION CO-CEOS/CHAIRMEN QUIT POSTS - BBG
RIM NAMES BARBARA STYMIEST INDEPENDENT BOARD CHAIRMAN - BBG
RESEARCH IN MOTION NAMES THORSTEN HEINS PRESIDENT, CEO - BBG
Research In Motion has clearly morphed into
RESEARCH IN MOTION CO-CEOS/CHAIRMEN QUIT POSTS - BBG
RIM NAMES BARBARA STYMIEST INDEPENDENT BOARD CHAIRMAN - BBG
RESEARCH IN MOTION NAMES THORSTEN HEINS PRESIDENT, CEO - BBG
Research In Motion has clearly morphed into
United Welfare States of America: In 2011 Nearly Half The Population Received Some Form Of Government Benefit
While politicians may debate whether or not America is the most "generous" (with other generations' money of course) socialist welfare state in the history of mankind, the undoctored numbers make the affirmative case quite clear and without any chance for confusion. The single most disturbing statistic: in 2011 nearly half of the population lived in a household that receives some form of government benefit, which in turn accounted for 65% of total federal spending, or $2.5 trillion, and
QE-Cating
QE-Cating
Excerpts from this week's Stock World Weekly
Good week for the bulls - the major indexes were all up between 2.0% and 2.8%, capping the third consecutive week of gains. Investors saw some powerful signs of positive activity in the economy. For example, initial unemployment claims dropped a stunning 50k in one week. Conversely, the fact that this earnings season has seen the lowest percentage of companies beating expectations since Q3 2008 supplied some powerful ammunition for
Excerpts from this week's Stock World Weekly
Good week for the bulls - the major indexes were all up between 2.0% and 2.8%, capping the third consecutive week of gains. Investors saw some powerful signs of positive activity in the economy. For example, initial unemployment claims dropped a stunning 50k in one week. Conversely, the fact that this earnings season has seen the lowest percentage of companies beating expectations since Q3 2008 supplied some powerful ammunition for
Gordon Chang
http://www.youtube.com/v/ARfRGA1i5Ho?version=3&f=user_uploads&app=youtube_gdata
See the original video here:
Gordon
See the original video here:
Gordon
Gerald Celente - This Week in Money - 21 January 2012
http://www.youtube.com/v/M9epzQo72y8?version=3&f=user_uploads&app=youtube_gdata
Trends Journal: http://www.trendsresearch.com/journal
Twitter: http://twitter.com/geraldcelente
See the original video here:
Gerald Celente - This Week in Money - 21 January
Trends Journal: http://www.trendsresearch.com/journal
Twitter: http://twitter.com/geraldcelente
See the original video here:
Gerald Celente - This Week in Money - 21 January
KuNG Hei: GaME BoY/FaT BoY...FaT CHoi!
.
.
.
By Aristarchan
Shut up and drive you big Morman!
.
"The secret to perpetual youth is arrested development."--Alfred North Whitehead
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.
See the original article here:
KuNG Hei: GaME BoY/FaT BoY...FaT
.
.
By Aristarchan
Shut up and drive you big Morman!
.
"The secret to perpetual youth is arrested development."--Alfred North Whitehead
.
.
See the original article here:
KuNG Hei: GaME BoY/FaT BoY...FaT
Investor Sentiment: Is This the End of the Road for the Rally?
The "dumb money" indicator has become extremely bullish (bear signal), and this is what one would expect with rising prices. The higher prices go the more bulls that are recruited. But is it the end of the road for the rally? Not necessarily so. In 1995, 2003, 2009, and Q4 2010/Q1 2011 we saw the phenomenon that I have dubbed "it takes bulls to make a bull market". It is a market characterized by rising prices and excessive bullishness. In the case of 1995, 2003, 2009, the excessive
Guest Post: Looking Back On A Century Of The Fed's BS
Submitted by Thomas Gresham of Gresham's Law,
After almost a century of the centrally planned dollar we’re delighted to present a timeline of the most amusingly disturbing speeches delivered by the Federal Reserve & Co.
See the original article here:
Guest Post: Looking Back On A Century Of The Fed's
After almost a century of the centrally planned dollar we’re delighted to present a timeline of the most amusingly disturbing speeches delivered by the Federal Reserve & Co.
See the original article here:
Guest Post: Looking Back On A Century Of The Fed's
Weekly Recap And Key Events In The Coming Week
By way of Goldman Sachs
The week past was one of improving sentiment for risky assets. The positive stream of data surprises out of the US continued with a sharp drop in initial jobless claims. The less positive Philly Fed print did not shake markets to a substantial extent. Optimism in Eurozone extended as well with the newsflow over the Greek PSI. Up until Friday (January 20) it appeared increasingly likely that an agreement could be imminent. However, on Saturday talks came once again
The week past was one of improving sentiment for risky assets. The positive stream of data surprises out of the US continued with a sharp drop in initial jobless claims. The less positive Philly Fed print did not shake markets to a substantial extent. Optimism in Eurozone extended as well with the newsflow over the Greek PSI. Up until Friday (January 20) it appeared increasingly likely that an agreement could be imminent. However, on Saturday talks came once again
Sol Sanders | Follow the money No. 102 America’s love affair with China
Latest from Uncle Sol. A version of this column is scheduled for publication in The Washington Times, January 23. 2012. -- Chris
Follow the money No. 102 | America’s love affair with China
By Sol Sanders
Old friend columnist Joseph Alsop once told me of arriving in China with a clanking sword he had hassled across the Pacific, given him by his cousin, FDR, along with an instant “Inside-the-Beltway” Navy commission. Pres. Roosevelt sent him immediately after Pearl Harbor to
Follow the money No. 102 | America’s love affair with China
By Sol Sanders
Old friend columnist Joseph Alsop once told me of arriving in China with a clanking sword he had hassled across the Pacific, given him by his cousin, FDR, along with an instant “Inside-the-Beltway” Navy commission. Pres. Roosevelt sent him immediately after Pearl Harbor to
Super Broke Mario Brothers Kindly Request The ESM Be Doubled To €1 Trillion
With less than three months left until the Greek D-Day, and just over one month until the next 3-year LTRO, which will be the ECB's final chance to firewall off its banks with sufficient liquidity and brace for the worst if Greece fails to reach a consensual debt reducing exchange offer (which our colleagues in the German press don't think will be nearly enough), we finally get a glimpse of how the super broke Mario brothers really feel. According to a report in the German Spiegel, the ink
Super Mario Brothers Super Denied: Schauble Tells Italy, ECB We Like You Just The Way You Are
It took a few hours for Germany to tell not only Italy, but the ECB, to shove it. Earlier we reported that the Super Broke Mario Bros came begging on Germany's footstep, kindly requesting their daily allotment be doubled. Germany has now kindly responded. From Reuters: "German Finance Minister Wolfgang Schaeuble on Sunday rejected pressure to beef up the euro zone's permanent rescue facility, saying Berlin would stick to the agreement made in December for a lending capacity of 500 billion
Hours Ahead Of Monday's Euro FinMin Meeting There Is No Greek Deal; IIF "Remains Hopeful"
But wait, we thought Greece and the ECB had an upper hand? Wouldn't they exercise said upper hand by now, considering its now 9pm in Greece on a Sunday, the day before the critical European finmin meeting by which point the Greek deal was supposed to be in place?
From Reuters:
Greece's private creditors are working closely with Athens on a debt swap deal, their chief negotiator said on Sunday, adding that he was confident a deal could be reached.
"We are at a crossroads and I
From Reuters:
Greece's private creditors are working closely with Athens on a debt swap deal, their chief negotiator said on Sunday, adding that he was confident a deal could be reached.
"We are at a crossroads and I
Ron Paul & Mike Maloney Hit It Out Of The Park - Gold, Silver & Debt Based Monetary System
http://www.youtube.com/v/E-ShSGz89mA?version=3&f=user_uploads&app=youtube_gdata
http://www.goldsilver.com During Mike Maloney's recent appearance on RT he was given the chance to state where he thinks the economy is going and why. Be sure to subscribe to Mike's weekly newsletter at GoldSilver.com, and check out Capital Account with Lauren Lyster...great show.
See the original video here:
Ron Paul & Mike Maloney Hit It Out Of The Park - Gold, Silver & Debt Based
http://www.goldsilver.com During Mike Maloney's recent appearance on RT he was given the chance to state where he thinks the economy is going and why. Be sure to subscribe to Mike's weekly newsletter at GoldSilver.com, and check out Capital Account with Lauren Lyster...great show.
See the original video here:
Ron Paul & Mike Maloney Hit It Out Of The Park - Gold, Silver & Debt Based
Subordination 101: A Walk Thru For Sovereign Bond Markets In A Post-Greek Default World
Yesterday, Reuters' blogger Felix Salmon in a well-written if somewhat verbose essay, makes the argument that "Greece has the upper hand" in its ongoing negotiations with the ad hoc and official group of creditors. It would be a great analysis if it wasn't for one minor detail. It is wrong. And while that in itself is hardly newsworthy, the fact that, as usual, its conclusion is built upon others' primary research and analysis, including that of the Wall Street Journal, merely reinforces
Saturday, January 21, 2012
Demcad and 2012!
http://www.youtube.com/v/p3tSdLLxlV0?version=3&f=user_uploads&app=youtube_gdata
I speak with Demcad about 2012 and the link to his video is here http://www.youtube.com/watch?v=H1gTo-TgBH8&list=UUO8MQqy42F8B9Lnk7iQvp1A&index=17&feature=plcp . We will witness a new paradigm in 2012 and the link is here http://www.youtube.com/watch?v=ENqyS2PE1AE&feature=player_embedded . Check out all the great interviews on The Gold Channel this month with Harold Becker
I speak with Demcad about 2012 and the link to his video is here http://www.youtube.com/watch?v=H1gTo-TgBH8&list=UUO8MQqy42F8B9Lnk7iQvp1A&index=17&feature=plcp . We will witness a new paradigm in 2012 and the link is here http://www.youtube.com/watch?v=ENqyS2PE1AE&feature=player_embedded . Check out all the great interviews on The Gold Channel this month with Harold Becker
Silver Update 1/17/12 Portfolio Percentage
http://www.youtube.com/v/SdxStDpIjq0?version=3&f=user_uploads&app=youtube_gdata
Netdania screenshots provided by Netdania.com
http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx
Overnight Long/Intraday Short Gold Fund http://www.zerohedge.com/news/overnight-longintraday-short-gold-fund-more-doubles-just-over-year-generates-43-annualized-retu
Global Assets
Netdania screenshots provided by Netdania.com
http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx
Overnight Long/Intraday Short Gold Fund http://www.zerohedge.com/news/overnight-longintraday-short-gold-fund-more-doubles-just-over-year-generates-43-annualized-retu
Global Assets
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