Gold Silver Mashup: February 2012

Tuesday, February 28, 2012

John Embry: Machinations to Blame For End-of-Year Slide

Author:

Ed Steer

Yesterday in Gold and Silver

Ed_GSDFebruary 22, 2012 11:10am GMT

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By 3:00 p.m. in Hong Kong on their Tuesday afternoon, gold was up about seven dollars...and from there until shortly before the Comex opened in New York, the gold price gave back about half of that gain...such as it was.But the moment that trading began in New York, it was a whole new ball

Sunken Coins Bound For Spain After Legal Battle

Author:

Ed Steer

Yesterday in Gold and Silver

Jax_DrupalFebruary 25, 2012 2:29pm GMT

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In gold, the high of the day came about 9:20 a.m. in London... and from there the price declined in fits and starts for the rest of the trading day both there... and in New York later in the day. The gold price basically traded in a ten-dollar price range all of Friday. Nothing to see here,

Sunday, February 26, 2012

NWO Puppet Masters VS. Military PATRIOTS = Revolution: Part 1 of 2

http://www.youtube.com/v/8Nc5iCdS07w?version=3&f=user_uploads&app=youtube_gdata

Part 1 of 2. SGT talks to Bob Chapman of The International Forecaster to discuss the NWO and the rapidly awakening American military. People are getting tired of taking marching orders from the likes of the Rockefellers and Rothschilds. And the NWO is faced with one very big problem: The world is waking up and the idea of Liberty is more popular than ever.

http://sgtreport.com/

The content in my

NWO Puppet Masters VS. Military PATRIOTS = Revolution: Part 2

http://www.youtube.com/v/np1qFEZdTH4?version=3&f=user_uploads&app=youtube_gdata

Part 2 of 2. SGT talks to Bob Chapman of The International Forecaster to discuss the NWO and the rapidly awakening American military. People are getting tired of taking marching orders from the likes of the Rockefellers and Rothschilds. And the NWO is faced with one very big problem: The world is waking up and the idea of Liberty is more popular than ever.

http://sgtreport.com/

The content in my

BIX WEIR: Silver More RARE Than Gold - Are Fulford & Wilcock Correct? [Part 1]

http://www.youtube.com/v/uG0SjhlPrp0?version=3&f=user_uploads&app=youtube_gdata

Part 1 of 2. SGT talks to Bix Weir of RoadtoRoota.com about the $6 TRILLION in seized Bonds, the Ben Fulford and David Wilcock information and the mounting evidence that there are stores of gold on the planet which have never been revealed, making SILVER far more rare and precious than the yellow metal. Guess what?! The world is waking up and the idea of Liberty is more popular than

BIX WEIR: A Spring 2012 CRASH - and a Ron Paul White House

http://www.youtube.com/v/T0O3yGqk4NU?version=3&f=user_uploads&app=youtube_gdata

Part 2 of 2. SGT talks to Bix Weir of RoadtoRoota.com about the very real possibility of a Spring 2012 financial CRASH. Bix is predicting that it could come in the March - May 2012 timeframe. Bix also predicts that the good guys are working to ensure Ron Paul stays in the race and makes it all the to the White House to restore our Constitutional form of government. Guess what?! The world is waking up

Eurozone Nightmare, $50 Ag By Summer & End of the Cartel: Ranting Andy

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

Part 1 of 2. SGT talks to Ranting Andy Hoffman of milesfranklin.com about the fall of Greece at the hands of the IMF and banksters, Silver to $50 by summer which will help to break the backs of the criminal banking cartel.

http://sgtreport.com/

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

MUST HEAR! $1,000 - $4,000 SILVER: Ranting Andy Hoffman

http://www.youtube.com/v/cq3Y40b9H8Q?version=3&f=user_uploads&app=youtube_gdata

Part 2. SGT talks to Ranting Andy Hoffman of milesfranklin.com about the COT report which is a joke - and the fact that silver, according to Andy's analysis and projections, is destined to reach $1,000 - $4,000 one day, and sooner than people think.

http://sgtreport.com/

The content in my videos and on the SGTbull07 channel are provided for informational purposes only. Use the information found in my

Friday, February 24, 2012

India Silver Imports May Top 5,000 Tonnes in 2012

Author:

Ed Steer

Yesterday in Gold and Silver

Ed_GSDFebruary 23, 2012 11:19am GMT

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The gold price fell and rose five bucks between the Far East open and the London open...but by 8:40 a.m. in New York, gold was down ten bucks from Wednesday's close.That proved to be the low of the day...and by 1:05 p.m. Eastern gold was only down a couple of bucks from the previous day.At the

John Embry: The Public Won't Notice Gold Again Until Another Record High is Set

Author:

Ed Steer

Yesterday in Gold and Silver

Ed_GSDFebruary 24, 2012 11:17am GMT

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Gold didn't do a lot in Far East trading...and it briefly touched the $1,780 spot level about two hours after the London open...but fell back to unchanged from Wednesday's New York close by 1:00 p.m. GMT, which was 20 minutes before Comex trading began yesterday morning.From about 8:05 to 8:55

Monday, February 13, 2012

Frontrunning: February 13

Greek Parliament Backs Austerity as Rioters Burn Buildings (Bloomberg)
China CIC Wary of EU Government Bond Investments (Reuters)
Spain Unions Decry New Labor Rules (WSJ)
China Tells Banks to Roll Over Loans (FT)
We're Not Greece: Italian Prime Minister Monti (CNBC)
Bernanke’s Labor Pessimism at Odds With U.S. Growth (Bloomberg)
Obama Budget Seeks Funding for Trade Unit (Bloomberg)
Obama's Election-Year Budget to Target Rich (Reuters)
China May Need to Fine-Tune Policy This Quarter, Wen

Schauble Says Greece Has Been A "Bottomless Pit" And Its "Promises Are No Longer Enough"

When discussing the Greek vote to pass a request for cash which is based on nothing substantial but merely more pledges to fix its economy in exchange for fresh billions in secured debt (aka bailouts) which will prime at least 136% of the country's GDP with a direct lien, we said all that matters is Germany's response. In which case ths following statement from German FinMin Schauble is likely indicative that this time around Greece will need to literally move mountains to convince Europe

Peace In Our Time

From Peter Tchir of TF Market Advisors
Peace In Our Time
Markets are rallying on the back of Greece’s approval of the austerity measures, and all I can think of is the ill-timed 1938 speech by Neville Chamberlain. But analyzing that leads to dark places, far too dark for a Monday morning when the markets are up. So I’ll try and lighten the mood, and only think about a book with talking animals – Animal Farm:

Do not imagine, comrades, that leadership is a pleasure. On the

Asia Buying Gold On Dips - “Empires May Fall, Currencies May Change... Gold Will Always Survive”

From GoldCore
Asia Buying Gold On Dips - “Empires May Fall, Currencies May Change... Gold Will Always Survive”
Gold’s London AM fix this morning was USD 1,727.00, EUR 1,302.22, and GBP 1,093.17 per ounce.
Friday's AM fix was USD 1,715.50, EUR 1,295.21, and GBP 1,084.25 per ounce.
Cross Currency Table – (Bloomberg)
Gold opened in Asia nearly $13 higher at $1,734.90/oz (after closing at $1,719.60 on Friday) prior to giving up those gains and trading back near Friday's close at

Daily US Opening News And Market Re-Cap: February 13

From RanSquawk

Markets are exhibiting risk appetite following the approval of Greek austerity measures late last night.
Iranian President Ahmadinejad has said that Iran will soon unveil “very big new achievements” in its nuclear programme.

Market Re-Cap Stocks advanced today after Greek lawmakers finally approved a new austerity package aimed at averting a default. As a result, it now looks like that the country will get the next bailout tranche and avoid failing to meet debt

Samaras Pledges To "Renegotiate" Bailout Pact After April Elections

If there was one thing the Troika needed not to hear less than 24 hours after the latest bailout demand vote passed, it is that the leader of Greek ill-named "New Democracy" party who is likely to replace Papademos as the next leader of Greece following the April elections, is that at best the new "deal" will last for two months, or until after the next local election. Needless to say, this it the only "pledge" out of Greece in the past week that is 100% certain to be kept. From The

Sunday, February 12, 2012

Guest Post: Charting The Federal Reserve's Assets - 1915-2012

Submitted by Thomas Gresham of Gresham's Law,
Here we present a history of the Fed in charts. As you’ll surely glean from the below — the Fed has degenerated from a by and large passive institution (dealing only in high-quality self-liquidating commercial paper and gold) to an active pursuant of junk, an enabler of wars, a ‘benevolent’ combatant of the depressions of its own creation, a central planner of employment & prices and of course a forgiving friend to inconvenient market

Two YT Patriots: Fabian4Liberty and Hyper Report

http://www.youtube.com/v/sgAUDYQ3EJ0?version=3&f=user_uploads&app=youtube_gdata

I speak with two You Tuber's we admire, Fabian Calvo from 'Fabian4Liberty' and Scott from 'HyperReport' to find out what drives them to fight the machine and stand for Liberty.

'The Liberty Option' (documentary)**
http://www.youtube.com/watch?v=KulMyuavhQo

Subscribe to Fabian4Liberty:
http://www.youtube.com/user/Fabian4Liberty

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David Morgan: More Bullish on SILVER NOW Than Ever Before

http://www.youtube.com/v/GNteVlaVis0?version=3&f=user_uploads&app=youtube_gdata

Here's my new interview with David Morgan of http://www.silver-investor.com/
David thinks this decade for silver will be even more epic than the last.

http://sgtreport.com/

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

Greek Parliament Passes Latest Austerity Vote

The Greek parliament just passed the latest proposed austerity plan with a majority voting Yes. Judging by the reaction of the EURUSD, which experienced a modest 40 pip short covering squeeze in the last few minutes, one would imagine that today's Greek vote outcome is surprising. It isn't: after all, all Greece has done is promise to do something it won't do in hope it can get another bailout package, this time amounting to €210 billion (of which its people will pocket a de minimis

Athens By Night

The Troika went to bailout Europe's banks (for the nth time) and all we got was this postcard of Athens by night...

courtesy of Aris

See the original article here:

Athens By

Kill Hollywood: Max Keiser Does The Anti-ACTA Dance

http://www.youtube.com/v/hcal8DwdndE?version=3&f=user_uploads&app=youtube_gdata

Max Keiser at the anti-ACTA rally in Stockholm on 4 February 2012

See the original video here:

Kill Hollywood: Max Keiser Does The Anti-ACTA

Two YT Patriots: Fabian4Liberty and Hyper Report

http://www.youtube.com/v/sgAUDYQ3EJ0?version=3&f=user_uploads&app=youtube_gdata

I speak with two You Tuber's we admire, Fabian Calvo from 'Fabian4Liberty' and Scott from 'HyperReport' to find out what drives them to fight the machine and stand for Liberty.

'The Liberty Option' (documentary)**
http://www.youtube.com/watch?v=KulMyuavhQo

Subscribe to Fabian4Liberty:
http://www.youtube.com/user/Fabian4Liberty

Subscribe to

David Morgan: More Bullish on SILVER NOW Than Ever Before

http://www.youtube.com/v/GNteVlaVis0?version=3&f=user_uploads&app=youtube_gdata

Here's my new interview with David Morgan of http://www.silver-investor.com/
David thinks this decade for silver will be even more epic than the last.

http://sgtreport.com/

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

On Meredith Whitney, Munis and Leaks

Warning: Wonkish
When you stick your neck out and make prognostications about the future, sometimes you're going to be wrong. I’m certainly no exception. But when it comes to really big misses, I think Meredith Whitney’s call for a monster blow-out of the Municipal Bond market is on top of the list.

Meredith is a smart lady. That being the case, it’s worth looking into why she was so wrong. A report this weekend from the Bond Buyer provides a partial answer:

A 32%

For Greece, Bailout Two Is Just The Beginning

If one is wondering why Greece Finance Minister Venizelos is scrambling to pass the proposed bill which enacts Greek Bailout #2, without any debate or details, very much like the US Attorneys General passed the robosigning settlement without a robosigning settlement even having been inked, the following excerpt from Section E of the MoU between Greece and the Troika should explain it. Because heaven forbid someone actually ask for details as to just what '€ ' of future funding needs over

Euro Analogy Three-peat

As a companion to my post late last month of the GDX via my chicken-scratch, here's another poultry-created masterpiece: a trio of Euro drawings with my best attempt at marking the "matched" points of this analog. The charts speak for themselves. Whether or not this pans out a third time remains to be seen. So far, so good, though.....(as a side note, I originally posted this on Slope of Hope at the end of last month, but the analog still holds - - - what happens this week will either

Trade Data: Is China Losing Its Steam?

By EconMatters
The latest January trade data of China showed the broadest measure of China's global trade surplus fell to a several-year low to around 2.7% of GDP. Export also collapsed to a negative 0.5% year-over-year in January, down from +13.4% in December. Imports looked even more dire with a 15.3% year-over-year decline.

Earlier this month, the IMF already issued a report on China stating that Real estate remains the greatest domestic risk to China, and in the most

Silver Update 2/09/12 Metals Margins

http://www.youtube.com/v/Nt_6roicDbE?version=3&f=user_uploads&app=youtube_gdata

CME Cuts Gold, Silver, Platinum And Copper Margins http://www.zerohedge.com/news/cme-cuts-gold-silver-platinum-and-copper-margins
Financial Survival Network http://kerrylutz.com/brotherjohnf-is-all-about-freedom-and-silver-02-09-2012/
Silver For The People http://brotherjohnf.com

See the original video here:

Silver Update 2/09/12 Metals

Silver Update 2/11/12 Socialism Fails

http://www.youtube.com/v/YInrOz7aVdk?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
The Road to Serfdom http://en.wikipedia.org/wiki/The_Road_to_Serfdom
Economy of Greece http://en.wikipedia.org/wiki/Economy_of_Greece
Trading Economics http://www.tradingeconomics.com/
Greece Finally Begins to Layoff Public Employees

The Cost Of The Combined Greek Bailout Just Rose To €320 Billion In Secured Debt, Or 136% Of Greek GDP

Some of our German readers may be laboring under the impression that following the €110 billion first Greek bailout agreed upon and executed in May 2010, the second Greek bailout would cost a "mere" €130 billion. Alas we have news for you - as of this morning, the formal cost of rescuing Greece for the adjusted adjusted adjusted second time has just risen to €145 billion, €175 billion, a whopping €210 billion, bringing the total explicit cost of all Greek bailout funds to

This Time Next US Presidential Campaign: $24.1 Trillion In Debt, 138.9% Debt/GDP

While Obama may or may not be on the way to winning his reelection, courtesy of a GOP field that is, to say the least, limited, and where the only worthy candidate is more ostracized by the right than even anyone on the left, the bottom line is that whoever wins the presidency, it will matter precisely didley squat. As the US debt clock shows, fast forwarding 4 years, or to February 2016, when the next presidential race will be in its final stretch, America will have $24.1 trillion in

Treasury Market Panic Reversal Due To Little Known Forces Called Supply and Demand

Treasury Market Panic Reversal Due To Little Known Forces Called Supply and Demand

Courtesy of Lee Adler of the Wall Street Examiner
The Treasury market panic saw a bit of a reversal this week, partly due to an unexpected, large increase in supply because of a sharp drop in Federal tax revenues over the past couple of weeks, and partly due to the market misunderstanding of Thursday morning’s news. The “better than expected” weekly unemployment claims data was one thing. Some

Saturday, February 11, 2012

Gerald Celente - Jeff Rense 09 Feb 2012

http://www.youtube.com/v/ZPxQXSFb_-Q?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 - Jeff Rense 09 Feb

Ron Paul: on the Patriot Act & the TSA

http://www.youtube.com/v/R0Mt8atGA0E?version=3&f=user_uploads&app=youtube_gdata

Do you wanna inform & wake up your friends and family? Sometimes they need to hear bite sized chunks on specific subjects:

Dr. Ron Paul's Rally in Chanhassen, MN on February 4, 2012. In this clip Dr. Paul speaks about why the unconstitutional Patriot Act was passed, and the need to repeal it. He also talks about the need to get rid of the TSA.

The content in my videos and on the SGTbull07 channel are

Ron Paul: on the NDAA "The real threat to our liberties is here at home."

http://www.youtube.com/v/AAG18JV8tx8?version=3&f=user_uploads&app=youtube_gdata

Do you wanna inform & wake up your friends and family? Sometimes they need to hear bite sized chunks on specific subjects:

Dr. Ron Paul's Rally in Chanhassen, MN on February 4, 2012. In this clip Dr. Paul speaks about the tyrannical NDAA s.1867 which was signed into law on New Year's Eve, January 31st, 2011 by Barack Obama. It allows American citizens to be black-bagged by the military and held WITHOUT

Ron Paul: on Liberty VS. Collectivism

http://www.youtube.com/v/yW34LCxLh4c?version=3&f=user_uploads&app=youtube_gdata

Do you wanna inform & wake up your friends and family? Sometimes they need to hear bite sized chunks on specific subjects:

Dr. Ron Paul's Rally in Chanhassen, MN on February 4, 2012. In this clip Dr. Paul speaks about why Communism - or Collectivisim will doom us to enslavement. Because the government produces nothing. In order to give to one person, it must take from another. Just another lesson on

Two YT Patriots We Admire: Fabian4Liberty and Hyper Report

http://www.youtube.com/v/sgAUDYQ3EJ0?version=3&f=user_uploads&app=youtube_gdata

I speak with two You Tuber's we admire, Fabian Calvo from 'Fabian4Liberty' and Scott from 'HyperReport' to find out what drives them to fight the machine and stand for Liberty.

'The Liberty Option' (documentary)**
http://www.youtube.com/watch?v=KulMyuavhQo

Subscribe to Fabian4Liberty:
http://www.youtube.com/user/Fabian4Liberty

Subscribe to

Fear of Terror Makes People Stupid … So Here’s Some Comic Relief

I have exhaustively documented the fact that fear of terror makes people stupid and easy to manipulate, and that the government intentionally exaggerates the threat of terrorism in order to make people afraid. Indeed, Americans’ overblown fear of terrorism is arguably the root cause of our loss of prosperity and freedom.
Because humor is a great antidote to fear, I am sharing this 2003 spoof on terror scaremongering (it is admittedly rather adolescent … but amusing):
The US

The Liberty Option

from internetanchorman.tv:
The Liberty Option is the first documentary film by popular youtuber Fabian4Liberty, Fabian Calvo. The Liberty Option examines today's destruction of our Republic at the hands of crazed criminal bankers and politicians. The son of immigrant parents who fled the tyranny of communist Cuba, Fabian discusses growing up seeing his parents live the American Dream. Now a father of two small children, he refuses to accept the role of complacent bystander in a country

Movie and Music Copyright Cops Themselves Infringe Intellectual Property

By Washington’s Blog

The giant movie and music corporations – and their water-bearing politicians – pushing draconian copyright laws are hypocrites.
According to TorrentFreak, members of the RIAA, Department of Homeland Security, Sony, Universal and Fox may have illegally downloaded files from BitTorrent.
Lamar Smith – the Congressman sponsoring SOPA – used a pirated photograph on his official campaign website.
TechCrunch reports today:
VEVO, the music portal owned by some of

Europe: "The Flaw"

We have posted various extracts from this piece from Credit Suisse previously. We will post from it again, because, to loosely paraphrase Lewis Black, it bears reposting... especially in the context of the latest and greatest Greek "bailout" (of Europe's bankers), which incidentally, will achieve nothing and merely bring the country one step closer to a military coup and/or civil war.
The flaw
The market is essentially proceeding on the assumption, as we see it, that banks’ capital

Whither Gold

The prophetic words of Antal Fekete in his now infamous 'essay' on Gold are as relevant now (perhaps more so) as they were when he first wrote them 15 years ago - especially as the Euro-zone migrates from lossening fiat-money to quasi-money (greek pharma bonds for instance). While summarizing this must-read discussion of mainstream economic orthodoxy's mis-teachings is impractical, his initial introduction sets the stage for what is to come: "The year 1971 was a milestone in the history of

There is no such thing as free birth control

http://www.youtube.com/v/U73xKgbXh68?version=3&f=user_uploads&app=youtube_gdata

The Schiff Report - February 1st 2012
www.SchiffRadio.com
Follow me on Twitter @SchiffRadio.com
Friend me on Facebook.com/PeterSchiff

See the original video here:

There is no such thing as free birth

Richard Russell: Watch Gold...2012 Fated to be a Monster Year

¤ Yesterday in Gold and Silver

It was ultra quiet in the gold world yesterday, as it seemed that all the New York traders were recovering from the Super Bowl parties. The only activity of note were the two minor sell-offs shortly after London opened. Whether they were caused by a long holder selling...or new short positions being placed...is impossible to tell.After that, it was a real yawner.Gold closed at $1,719.90 spot...down $6.00 from Friday's close.

This Will Be Gold's Best Year Yet: John Embry

¤ Yesterday in Gold and Silver

The gold price didn't do much until about 2:00 p.m. Hong Kong time...and then a smallish rally began that lasted until minutes before London opened.Then, for whatever, gold got sold down about twenty bucks, with the bottom coming at around 12:15 a.m. in London. A rally then began that lasted until the gold price hit the $1,750 spot mark, which came shortly before 2:00 p.m. in the New York Access Market. After that, the gold price

John Hathaway: People Are Right to be Scared...and Gold is a Necessity

¤ Yesterday in Gold and Silver

The high in gold was about 2:30 p.m. Hong Kong time...about ninety minutes before London opened yesterday...and it was all down hill from there, but at a very leisurely pace.Once the London p.m. gold fix was in shortly after 10:00 a.m. in New York, the sell off got more serious...and by the close of Comex trading at 1:30 p.m. Eastern time, 'da boyz' had peeled another twenty plus dollars off the gold price. From there, the price

ESCaPe FRoM ATHeNS...

.

See the original article here:

ESCaPe FRoM

Apple at $1000/share? Oh, at LEAST!

(Note - I got an invitation from Tyler this morning to contribute to ZeroHedge, which completely made my day. I've got a little blog called the Slope of Hope, wrapping up its 7th year. I hope to become a regular here over at ZH; thanks, Tyler!)
Most of you have probably already seen the bullgasm happening over at Barron's.
Nothing sums up the euphoria these days better than Apple, Inc. The stock is up nearly 40,000% since 1982 and, more recently, is up about 500% over the past three

Greece at the Point of no Return

Wolf Richter www.testosteronepit.com
"The European Union is suffering under Germany,” Georgios Karatzaferis said on Friday. He is the president of the right-wing LAOS. With 15 members in parliament, the party is a minority partner in the coalition cabinet of party-less technocrat Prime Minister Lucas Papademos. Karatzaferis accused German Chancellor Angela Merkel of trying to "impose her will on Southern Europeans." He called the Netherlands, Austria, Finland, and Luxembourg

The is no such thing as free birth control

http://www.youtube.com/v/U73xKgbXh68?version=3&f=user_uploads&app=youtube_gdata

The Schiff Report - February 1st 2012
www.SchiffRadio.com
Follow me on Twitter @SchiffRadio.com
Friend me on Facebook.com/PeterSchiff

See the original video here:

The is no such thing as free birth

Ted Butler: Enough is Enough

¤ Yesterday in Gold and Silver

Not much happened price-wise in gold in Far East and early London trading on Thursday. There was the usual smallish rally going into the London open, but it got sold off in the same old way, as it does just about every day at about that time. From there, the price slowly declined until about 12:45 p.m. in London, which was the London low. Then a smallish rally developed that gained some real traction at 9:15 a.m. in New York, but

Gold, Silver, War, Systemic Collapse & Social Unrest: Gerald Celente

¤ Yesterday in Gold and Silver

As I mentioned in 'The Wrap' section of yesterday's column, the gold price didn't do much in the Far East on Friday until about fifteen minutes before the London open...and then a not-for-profit seller showed up on the Globex trading system...and had gold down about fifteen bucks in short order.From there it traded sideways to up until about 11:30 a.m. local time in London. Then another seller showed up...and the gold price declined to

Gold, Silver, War, Systemic Collapse & Social Unrest: Gerald Celente

¤ Yesterday in Gold and Silver

As I mentioned in 'The Wrap' section of yesterday's column, the gold price didn't do much in the Far East on Friday until about fifteen minutes before the London open...and then a not-for-profit seller showed up on the Globex trading system...and had gold down about fifteen bucks in short order.From there it traded sideways to up until about 11:30 a.m. local time in London. Then another seller showed up...and the gold price declined to

Ben Bernanke FTMFW Quote Of The Day

And the winner is...

BERNANKE: HOUSING MAY NO LONGER BE VIEWED AS SECURE INVESTMENT

That's right. He just said that. And with that, a Lewis Black moment is coming on...
He also said some other stuff.

BERNANKE SAYS HOUSING IMPEDING FED EFFORT TO SPUR U.S. ECONOMY
BERNANKE SAYS HOUSING SECTOR SUFFERS FROM `SERIOUS IMBALANCES'
BERNANKE SAYS HOUSING IMPEDING FED EFFORT TO SPUR U.S. ECONOMY
BERNANKE SPEAKS ABOUT HOUSING MARKETS IN ORLANDO, FLORIDA
BERNANKE: TIGHT MORTGAGE CREDIT WON'T BE

Heroes

Heroes
Courtesy of Bruce Krasting
I know a man. Call him Eddie. He’s African American, going on about 63. When he was a boy he had no real home or much education, so when he was eighteen he took the only option available to him. He joined the military. That was 1967.

He must have been a hell of a soldier. He ended up in the Army’s 1st Cavalry Division. (One of the toughest outfits around.)
In February of 1968 he fought in the battle of Hue during the Tet offensive. He was in

Obama Revises CBO Deficit Forecast, Predicts 110% Debt-To-GDP By End Of 2013, Worse Deficit In 2012 Than 2011

While we have excoriated the unemployable, C-grade, goalseeking, manipulative excel hacks at the CBO on more than one occasion by now (see here, here and here), it appears this time it is the administration itself which has shown that when it comes to predicting the future, only "pledging" Greece is potentially worse than the CBO. WSJ reports that "President Barack Obama's budget request to Congress on Monday will forecast a deficit of $1.33 trillion in fiscal year 2012 and will

Friday, February 10, 2012

The Epic Farce Continues - US Attorneys General "Robosigned" A Foreclosure Settlement Which Does Not Exist

It is only appropriate, and so ironic, that a politically motivated settlement whose purpose is to squash any claims of pervasive defective document fraud (and contract law but just ask GM bondholders about that - it's hardly news) is itself found to be... defective. American Banker reports that the reason why the terms of the so-called historic (just ask the Teleprompter in Chief) foreclosure settlement deal are not public yet, is "because a fully authorized, legally binding deal has not

Finance For Adult Dummies

For the last thirty years economic policy makers have been in the business of promoting asset prices higher through easy credit. Global policy makers are meddling in markets so that the economies they feel responsible for can achieve what seems to be a consensus objective of muddling through. A policy of meddling to muddle, if you will. QBAMCO's critical 'inflation' insights, and Tourette's-ridden ranting, reflect the simple realities of what real-world consequences occur when policy

Investors Take Note: A Seismic Shift Has Begun in China…

Graham’s note: this is an excerpt from a recent client note I sent out regarding the situation in China. The impact of the coming change will be dramatic both in terms of its impact on Europe (China’s single largest trade partner) and the US with whom China is fast developing a trade war.

Most of the rally in China’s markets over the last few months stemmed from the belief that China was going to begin monetary easing again in order to soften its economic slowdown.

Risk Of

Proof The January Jobs Number Was Real

Not convinced NFP was +243,000 in January? Fret no more folks, proof has surfaced.
Jobs are in fact being created - Unions are paying protesters, and not only for occupy wall street demonstrations.
The gentleman in the following video confirms that the AFL-CIO is paying protesters $60 dollars a head to gather together and pretend to care about the cause. Well, at least there's one organization not letting cash build up on their balance sheet.
Will this be added to their unemployment

Sol Sanders | Follow the money No. 105 | A confusion of roles

"Oh, what a relief to fight, to fight enemies who defend themselves, enemies who are awake!"
Ch’en Ta Erh
Man's Fate
Andre Malraux

Latest from Uncle Sol, a version of which may appear in the Washington Times on Monday next. Chris
Follow the money No. 105 -- A confusion of roles
Sol Sanders
Minxin Pei, the most original of current Sinologists, makes the point authoritarian/totalitarian regimes inherently prioritize requirements for protecting regime leaders over long-term

Ten Minutes With Italy's Mario Monti

Italy's Prime Minister (and self appointed economy minister) shot over to CNBC after his meeting with President Obama this afternoon to discuss how well everything looks for Italy since he was elected took over.
Notable Comments:

Italian banks are "vulnerable" but have recapitalized themselves (rather, the ECB has given them money)
He had a good meeting with Obama, and Obama is supportive (he's careful to mention not financially supportive - perhaps forgetting how much the Federal Reserve

High Yield Plummets and VIX Flares Most In Almost 3 Months

Credit (and vol) continue to lead the way as smart deriskers as ES (the e-mini S&P 500 futures contract) ends down only 0.5% - which sadly is the biggest drop since 12/28. The late day surge in ES, which was not supported by IG or HY credit (and very clearly not HYG - the HY bond ETF - which closed at its lows and saw its biggest single-day loss since Thanksgiving), saw heavier volumes and large average trade size which suggest professionals willing to cover longs or add shorts above in

Credit Card Fueled Binges No Longer Bring A Smile To US Consumers' Faces

To be happy is to be confident. And at least until the recent past, in America to be confident, meant to have purchasing power, which pretty much always, at least for the bulk of the population, meant to lever up, i.e., to take on debt and to spend it on worthless crap. Well, as we reported earlier this week, in December the US population literally jumped head first right back into the credit frenzy, experiencing the largest jump in unadjusted consumer credit since the peak of the credit

BaNZai7 EXCLuSiVe: WHeRe Is KiM JoNG UN?

See the original article here:

BaNZai7 EXCLuSiVe: WHeRe Is KiM JoNG

David Morgan & Chris Duane on FSN Radio Interview (Silver/Gold/Worldwide Currency Collapse)

http://www.youtube.com/v/6QdtzyE0Cqs?version=3&f=user_uploads&app=youtube_gdata

http://Silver-Investor.com

See the original video here:

David Morgan & Chris Duane on FSN Radio Interview (Silver/Gold/Worldwide Currency

The End of the World? - Jeff Berwick (Dollar Vigilante, Anarchast)

http://www.youtube.com/v/qv0prOa3PoM?version=3&f=user_uploads&app=youtube_gdata

As part of our continued pre-show coverage of the California Resource Investment Conference we are joined by Jeff Berwick, famous Canadian entrepreneur and activist.

Berwick is one of four speakers that you can vote for; Kitco will broadcast the entire, full-length presentation of the winning speaker from the California show. To vote, please visit:

Gerald Celente - Jeff Rense 09 Feb 2012

http://www.youtube.com/v/ZPxQXSFb_-Q?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 - Jeff Rense 09 Feb

Two YT Patriots We Admire: Fabian4Liberty and Hyper Report

http://www.youtube.com/v/sgAUDYQ3EJ0?version=3&f=user_uploads&app=youtube_gdata

I speak with two You Tuber's we admire, Fabian Calvo from 'Fabian4Liberty' and Scott from 'HyperReport' to find out what drives them to fight the machine and stand for Liberty.

'The Liberty Option' (documentary)**
http://www.youtube.com/watch?v=KulMyuavhQo

Subscribe to Fabian4Liberty:
http://www.youtube.com/user/Fabian4Liberty

Subscribe to

Ted Butler: Enough is Enough

¤ Yesterday in Gold and Silver

Not much happened price-wise in gold in Far East and early London trading on Thursday. There was the usual smallish rally going into the London open, but it got sold off in the same old way, as it does just about every day at about that time. From there, the price slowly declined until about 12:45 p.m. in London, which was the London low. Then a smallish rally developed that gained some real traction at 9:15 a.m. in New York, but

Is The Foreclosure Settlement A Shadow Bailout For Broke California

Just over a week ago we highlighted the desperate plight of cash-strapped California. With a $3.3bn short-term 'hole', they were looking for cash-management solutions under every rock and hard place they could find. Today we hear that California joins the Obama bank foreclosure settlement enabling $18bn of bank-funded cash (implicitly via Federal Reserve/Government coffers) can flow to the left coast. Los Angeles alone will receive $4bn which while eventually wending its way down to the

A Very Different Take On The "Iran Barters Gold For Food" Story

Much has been made of today's Reuters story how "Iran turns to barter for food as sanctions cripple imports" in which we learn that "Iran is turning to barter - offering gold bullion in overseas vaults or tankerloads of oil - in return for food", and whose purpose no doubt is to demonstrate just how crippled the Iranian economy is as a result of the ongoing US embargo. Incidentally this story is 100% the opposite of the Debka-spun groundless disinformation from a few weeks ago that

Schaeuble Blesses Gaspar: German FinMin Promises To Rescue Portugal

UPDATE: Ironic timing...*VENIZELOS SAYS GREECE FACES CHOICE OF STAYING IN EURO OR NOT, *GREEK DEBT SUSTAINABILITY NO WAY NEAR 120%, DE JAGER SAYS, and *ECB SHOULD CONTRIBUTE TO REDUCTION OF GREEK DEBT, JUNCKER SAYS
In an incredibly candid 'informal' discussion caught on video by Portugal's TVi24 television crew, German finance minister Wolfgang Schaeuble gives Portuguese finance minister Vitor Gaspar 'the nod' that after the Greek deal is done, Germany will relax the conditions of the

Bait And Switch: California High-Speed Rail to Nowhere

It started out benign enough. In November 2008, California voters passed Proposition 1A, which authorized the issuance of $9.95 billion in general obligation bonds to fund the first stage of a high-speed rail link between Los Angeles and San Francisco, with extensions to San Diego and Sacramento. The project would cost $35.7 billion. The federal government would pick up a chunk. And it would be profitable.
High-speed rail works if it links big urban areas, has lots of riders, and

Thursday, February 9, 2012

Pimco Borrows A Record $88 Billion To Bet On Fed's Upcoming MBS Monetization

Regular readers of Zero Hedge know that in recent months tracking the portfolio and thoughts of one Bill Gross via the holdings of his flagship Total Return Fund (which just jumped by $6 billion in the past month and is just shy of its all time record north of $250 billion) has meant one thing and one thing only: betting on the Fed monetizing Mortgage Backed Securities or bust. Well, in January he just took it to a whole new level. The fund has now borrowed a record $88 billion, or -35% of

Economists Surprised Again By Unemployment Claims, Should Not Have Been

Economists Surprised Again By Unemployment Claims, Should Not Have Been

Courtesy of Lee Adler of the Wall Street Examiner

The mainstream media proclaimed an unexpected "beat" of the first time unemployment claims number today. The fake, seasonally fudged number dropped to 358,000 in the week ended February 4. According to Bloomberg, the consensus of economists' expectations was for 370,000. Aside from the fact that whether economists get a forecast right or not seems to be completely

Greece Is Nicht Sehr Happy With Frau Merkel

The Greek daily http://www.dimokratianews.gr/ (price 1 Euro, not 2000 Drachma) may have summarized best what at least a prominent subsegment of Greece feels toward Die Frau, who quite adeptly managed to dodge the Greek "pledge" gambit, so thoroughly discussed earlier, and put the ball back in the Lucas Papademos' court, who now must be tearing his hair out: not only did Europe put him in his current position, but now it is the same Europe who no longer wants him in... What's a former ECB

Why You No Like Facts? Core Inflation vs. Disposable Income

As I reminded you the other day, Ben Bernanke isn't worried about inflation. That's good to know, but what are some other facts that we can look at to determine where prices and / or purchasing power are headed. Two indicators that are relevant to this topic are core inflation (everyone's favorite to point to, since it excludes those pesky inflationary items food & energy), and income.

I'm no Phd (which according to some economists who lose millions disqualifies me from

Calm Before The Storm? Credit Plunges As VIX Futures Jump Most In 2 Months

Credit markets are continuing the trend of the last couple of days with this afternoon seeing their underperformance accelerating. Major underperformance this week in investment grade and high yield credit markets relative to stocks (and as we noted this morning, we are also seeing financial credit in Europe notably underperforming) as Maiden Lane II assets are sold and high yield issuance peaks (and liquidity dries up). Adding to the concerns, VIX futures saw their biggest 2-day jump in

On Banknotes

On Banknotes
Courtesy of Bruce Krasting

.
There is a curious story in the Swiss press today. On the surface it appears innocuous.
.

.
Paper money has been in transition for the last ten years. Most of the big issuers of paper have updated their bills to minimize forgery. The US has spent a bundle on this effort, and it too has had problems and delays with issuing the new, more complicated money. So my first thought about the Swiss delay was that this is more of the same.

CME Cuts Gold, Silver, Platinum And Copper Margins

It has been so long since the CME cut gold and silver margins that frankly we are a little bit stunned... In an extended announcement, which saw outright margins for virtually every commodity get cut, the CME just lowered Initial and Maintenance margins of gold (by 12%) and silver (13%), to $7500 maintenance for GC and $16000 maintenance for SI. Did the paper bull trap season just open? And how long before these are re-hiked by 15%, 20% or more? For now, however, this is certainly

The rush to commodities...David Morgan on Fox Business

http://www.youtube.com/v/c7HTCU4-k6o?version=3&f=user_uploads&app=youtube_gdata

http://Silver-Investor.com

See the original video here:

The rush to commodities...David Morgan on Fox

Greek Deal Done? Not So Fast Says IMF

Update - It gets even better: Greek Deal Lacks Detailed Paperwork For Decision - DJ. What, 50 pages of promises is not enough.
The Greeks "pledge" that they will grow their economy in 2013? May as well pledge unicorn cab cabs for all Germans to their southern province in perpetuity. Yet somehow this is sufficient to squeeze the EURUSD higher as a "deal is done." Perhaps, but not so fast. As we speculated, the Troika not only does not want to fall for the same Greek BS any more, but frankly

iEconomy: This Is How Apple Distorts The Market

As rumors of the imminent iPad3 (and FoxConn hacking) spread across the web and a general sense of cult-like euphoria washes away the reality of a considerably weaker earnings picture (and outlook) than even downgraded expectations had prepared for, we present two charts, via JPMorgan, of just how grossly distorted the picture of US economic health (implicitly via US corporate earnings) has become, thanks to Apple. While ignoring Apple as a provider of 'wealth' is akin to Monty Python's

European Credit Refuses To Take The Blue Pill

After an almost incessant rally off Thanksgiving Day lows, European financials are seeing a quite notable divergence in their performance over the last two days. Dispersion has risen across all of credit with financial credit spreads widening significantly as both broad stocks and specifically the European financial stocks trade sideways to higher. This is the most significant divergence between credit and equity for the financials in Europe since that rally began and was then extended via

Greek Deputy Labor Minister Resigns To Protest Austerity Deal

This is the first of many such political moves, and is hardly in anticipation of public adulation once tomorrow's two day strike beings , which as labor unions have noted will be to protest the debt deal that is the "tombstone of Greek society." For now rotations at the top are voluntary. That will soon change. From Bloomberg: "Greek Deputy Labor and Social Security Minister Yiannis Koutsoukos resigned his cabinet position to protest austerity measures agreed to by Greek political leaders,

Germany Throws Ball Back In Greece's Court As Schauble Says Deal Insufficient

As we predicted, Germany is a no go. The AP reports:

German FinMin: Greek deal on spending cuts appears to not yet fulfill bailout conditions

And now ball is back in the Greek court where politicians are starting to drop like flies on the "merely insufficient" deal.

See the original article here:

Germany Throws Ball Back In Greece's Court As Schauble Says Deal

Government Uses Anti-Terror Laws to Crush Dissent and Help the Too Big to Fail Businesses

For years, the government has been using anti-terror laws to crush dissent and to help the too big to fail businesses compete against smaller businesses (and see this).
This trend is getting worse by the day.
On January 31, 2012, the Department of Homeland Security’s Behavioral Science Division pointed to the following as indicators of potential terrorism (please note – as you review the list – that some indicators are conservative, some are liberal and some are

Obama Speaks On Foreclosure Settlement

Earlier, we heard Dick Bove's take on the fraudclosure settlement. Now it's time for the TOTUS' spin.

JOIN THE LIVE

Ron Paul: on the Patriot Act & the TSA

http://www.youtube.com/v/R0Mt8atGA0E?version=3&f=user_uploads&app=youtube_gdata

Do you wanna inform & wake up your friends and family? Sometimes they need to hear bite sized chunks on specific subjects:

Dr. Ron Paul's Rally in Chanhassen, MN on February 4, 2012. In this clip Dr. Paul speaks about why the unconstitutional Patriot Act was passed, and the need to repeal it. He also talks about the need to get rid of the TSA.

The content in my videos and on the SGTbull07 channel are

Ron Paul: on the NDAA "The real threat to our liberties is here at home."

http://www.youtube.com/v/AAG18JV8tx8?version=3&f=user_uploads&app=youtube_gdata

Do you wanna inform & wake up your friends and family? Sometimes they need to hear bite sized chunks on specific subjects:

Dr. Ron Paul's Rally in Chanhassen, MN on February 4, 2012. In this clip Dr. Paul speaks about the tyrannical NDAA s.1867 which was signed into law on New Year's Eve, January 31st, 2011 by Barack Obama. It allows American citizens to be black-bagged by the military and held WITHOUT

Ron Paul: on Liberty VS. Collectivism

http://www.youtube.com/v/yW34LCxLh4c?version=3&f=user_uploads&app=youtube_gdata

Do you wanna inform & wake up your friends and family? Sometimes they need to hear bite sized chunks on specific subjects:

Dr. Ron Paul's Rally in Chanhassen, MN on February 4, 2012. In this clip Dr. Paul speaks about why Communism - or Collectivisim will doom us to enslavement. Because the government produces nothing. In order to give to one person, it must take from another. Just another lesson on

John Hathaway: People Are Right to be Scared...and Gold is a Necessity

Author:

Ed Steer

Yesterday in Gold and Silver

Ed_GSDFebruary 9, 2012 11:03am GMT

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The high in gold was about 2:30 p.m. Hong Kong time...about ninety minutes before London opened yesterday...and it was all down hill from there, but at a very leisurely pace.Once the London p.m. gold fix was in shortly after 10:00 a.m. in New York, the sell off got more serious...and by the close

Wednesday, February 8, 2012

Guest Post: Introducing The Government’s Newest Unpaid Spy: YOU

Submitted by Simon Black of Sovereign Man
Introducing The Government’s Newest Unpaid Spy: YOU

One of the most terrifying aspects of George Orwell’s seminal work 1984 was his description of how society had turned into one giant police agency. People were encouraged to rat each other out, groomed since childhood to be unpaid government spies:
“ adored the Party and everything connected with it… All their ferocity was turned outwards, against the enemies of the State, against

Kiss Hopes Of Chinese Easing Goodbye: January Inflation In China Soars To Highest Since October

Yesterday when we discussed the surprising non-cut in the Australia cash rate, we asked "is China re-exporting the lagging US inflation it imported over 2011? " and said that "It means that Chinese inflation continues to be far higher than what is represented... and wonder: did the RBA just catch the PBOC lying about its subdued inflation?" Lastly, we concluded: "Furthermore, the PBOC did 26 billion yuan in repos, meaning it is set to conduct a net liquidity withdrawal for this week

Liberty & Freedom - Are We Missing Warning Signs?

Government is only too much disposed to follow this diabolical advice, for it is composed of ministers and officials - of men, in short, who, like all other men, desire in their hearts, and always seize every opportunity with eagerness, to increase their wealth and influence. Government is not slow to perceive the advantages it may derive from the part which is entrusted to it by the public. It is glad to be the judge and the master of the destinies of all; it will take much, for then a

Michael Pento On Gold, Inflation, and Interest Rates

One of the few sane economists out there is Michael Pento of Pento Portfolio Strategies (formerly of Peter Schiff's Euro Pacific Capital).
Here is an interesting interview he did with Bloomberg back in December where he discusses his typical range of topics: Gold, Inflation, and Interest rates

Notable comments:

Half of the DXY is against the EURO, so that's the headwind for gold, but the tailwind for gold still is the fact that we have negative real interest rates & they

Diamond Foods Fires CEO, CFO After Audit Committee Finds Books Have Been "Cooked" For The Past Two Years

First, small momo-favorite companies. Next: entire nations. Finally: the all-seeing, all-dancing central banks. Today, Diamond Foods just fired its CEO and CFO after the audit committee found its books have been cooked, only phrased more politically correct: "the Audit Committee has carefully reviewed the accounting treatment of certain payments to walnut growers. The Audit Committee has concluded that a "continuity" payment made to growers in August 2010 of approximately $20

Epic Collapse For Phil Falcone Whose Harbinger Is Forced To Pay 15% Interest On Secured Loan

And so the legend of the once invincible "hedge fund titan" Phil Falcone, often the target of mockery and ridicule on the pages of Zero Hedge, ends, after his now irrelevant hedge fund which peaked in the tens of billions back in 2006/2007 is forced to borrow a secured loan from Jefferies at a 15% rate. The reason - the firm's all in gamble in satellite communication company LightSquared, which is also pretty much finished following today's announcement by airline carriers who said that

Greek Meeting Ends Without Conclusion: LAOS Head Refuses To Sign Deal

Bloomberg reports that at almost 1 am local time, the Greek government meeting has broken up, and the head of LAOS is speaking, and by the looks of things, is not going along with the program:

KARATZAFERIS SAYS HE DID NOT HAVE ENOUGH TIME TO STUDY MEASURES
KARATZAFERIS SAYS HE NEEDS LEGAL ASSURANCES ON MEASURES
KARATZAFERIS SAYS HE MIGHT CONTINUE TO SUPPORT THE GOVERNMENT DESPITE NOT AGREEING TO DEAL
KARATZAFERIS SAYS HE MADE HIS POSITIONS CLEAR EARLY IN MEETING
KARATZAFERIS SAYS HE

Papademos Says Outstanding Issues Remain, EURUSD Slides

Another day, another delay, and still nothing is done.

GREEK PREMIER SAYS OUTSTANDING ISSUE NEEDS FURTHER WORK
GREEK PREMIER SAYS DISCUSSION TO CONTINUE ON OUTSTANDING ISSUE
PAPDEMOS SAYS AIMS TO CONCLUDE LOAN TALKS AHEAD OF THURSDAY'S EUROGROUP MEETING

And on the off chance that Greece, gasp, does not actually get something done by the deadline, it means that at tomorrow's meeting the only topic of discussion will be the calorie content in the taxpayer funded pastries. In the meantime,

Foreign Troops Enter Syria

We’ve repeatedly noted that the U.S. government planned regime change in Syria at least 20 years ago.
Indeed, carrying out acts of violence and blaming it on the Syrian government as an excuse for regime change was discussed over 50 years ago by British and American leaders.
We noted in December that foreign troops were amassing on the Syrian border.
We noted yesterday that an independent report by the Arab League found that “rebels” were attacking government buildings and innocent

Next Major Leg Up in Precious Metals, $60 SILVER THIS YEAR!

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

SNNLive Video Interview from the Vancouver Resource Investment Conference 2012.

http://Silver-Investor.com

See the original video here:

Next Major Leg Up in Precious Metals, $60 SILVER THIS

BReaKiNG TRoiKa NeWS...

TROIKA: THE NEUE FINANCIAL DECADENCE

.

See the original article here:

BReaKiNG TRoiKa

European FX Swap Line Usage With NY Fed Rises To Fresh Multi-Year High As More Banks Demand More Dollars

While the disclosure of New York Fed's FX swap line usage with the ECB continues to be between 1 and 2 weeks delayed, courtesy of our ECB friends/Goldman alumni, who post swap line usage in real time, we find that in the week starting with tomorrow's settlement, the total swap line usages has risen yet again in the past week, this time to a fresh multi-year high of $89.7 billion, an increase of $400 million compared to last week, and the highest since July 2009. The reason for the increase

Risk Off As ECB Says Rumor Is Actually Not Fact

But, but, but...

ECB NOT YET DECIDED ON WHETHER TO CONTRIBUTE TO GREEK DEBT RESTRUCTURING - EURO ZONE SOURCES

The V-Fib pattern formerly known as the EURUSD not happy.
EURUSD on the news:

More from Reuters:

European Central Bank policymakers are still divided on what contribution the ECB could make to a restructuring of Greece's sovereign debt, two euro zone monetary policy sources said on Wednesday.

With private creditors having already largely agreed to write down the value

Goldman Conducts Poll On Latest European Deus Ex, Finds Respondents Expect €680Bn LTRO Take Up

We have discussed forecasts for the second (and certainly not last ) February 29 3 Year LTRO in the past, with expectations for its size ranging from €1 trillion all the way up to a mindboggling €10 trillion. Today, Goldman has conducted a poll focusing on investors and banks, to gauge the sentiment for what has over the past 2 months been taken as the latest Deus Ex, which is really nothing than yet another bout of quantitative easing, only one in which the central bank pretend to be

S&P Threatens US With Another Downgrade In As Little As 6 Months

Will A be the new AA+? Perhaps, if the S&P follows through with its latest threat. Bloomberg reports that, "the U.S., lacking a plan to contain $1 trillion deficits, faces the prospect of another rating cut in six to 24 months depending on the outcome of November elections, according to John Chambers of Standard & Poor’s. America has had an AA+ rating with a negative outlook since Aug. 5 when the New York-based unit of McGraw-Hill Cos. stripped the nation of its AAA ranking for the first

Investing Successfully in the Resource Industry

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

This is an hour long video we screened in the Casey Research Pavilion at the Cambridge House Vancouver Investment Conference, starring Doug Casey, Eric Sprott, John Hathaway, and Rick Rule.

See the original video here:

Investing Successfully in the Resource

This Will Be Gold's Best Year Yet: John Embry

Author:

Ed Steer

Yesterday in Gold and Silver

Ed_GSDFebruary 8, 2012 11:14am GMT

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The gold price didn't do much until about 2:00 p.m. Hong Kong time...and then a smallish rally began that lasted until minutes before London opened.Then, for whatever, gold got sold down about twenty bucks, with the bottom coming at around 12:15 a.m. in London. A rally then began that lasted

Tuesday, February 7, 2012

OPeN CaPTioN PoST: GREECE

TECHNICAL QUESTION:
How does one actually say "shit happens" in German?

.

OPEN CAPTION:

See the original article here:

OPeN CaPTioN PoST:

Yes, It Is Halftime In America

Yes, It Is Halftime In America – So Now Is The Time To Get Your Financial Priorities In Order
Courtesy of Michael Snyder of Economic Collapse
Did you see the Chrysler commercial featuring Clint Eastwood that aired during the Super Bowl the other night? It was entitled "It's Halftime In America", and it was truly a great ad. To me, it was the most memorable Super Bowl ad this year by far. It conjured up images of the America that so many of us remember so fondly. It reminded us

Chairsatan Isn't Worried About Inflation - Should You Be?

If you listened to Ben Bernanke's testimony between last week and this week, you were told repeatedly that he is not worried about inflation.
Here are some charts that his analysts must have missed - Perhaps they're spending their time hanging out with the SEC boys surfing the web, but either way they should probably bring these to Ben's attention sooner rather than later.

Not Money's Reaction to Ben Today

Not Money's Performance Since Bernanke Began In 2006

EUR/USD Since

Equities And EURUSD Outperform As Divergences Increase

Somehow, once again, we managed to rally EURUSD (to 2 month highs) on the back of Greek deal hopes (even as Merkel stomped her feet, Hollande flexed his muscles, and Dallara/Venizelos had nothing to report) which maintained a modicum of support for equity markets (which also got a little late day push from another record-breaking Consumer-Credit expansion) as cash S&P made it to early July 2011 levels. Unfortunately, with Utilities leading S&P sectors, credit diverging wider in investment

Greek Economy Implodes: Budget Revenues Tumble 7% In January On Expectation Of 9% Rise

While hardly surprising to anyone who actually paid attention over the past two months to events in Greece (instead of just reacting to headlines) where among those on strike were the very tax collectors tasked with "fixing the problem", we now get a first glimpse of the sheer collapse in the Greek economy, which also confirms why Germany is now dying for Greece to pull its own Eurozone plug (predicated by a naive belief that Greece is firewalled as was discussed before. As a reminder Hank

Silver Misconceptions: David Morgan (of Silver-Investor.com)

http://www.youtube.com/v/uek9SwOXhxo?version=3&f=user_uploads&app=youtube_gdata

One of our favorite guests, David Morgan, joins Kitco News' exclusive coverage of the "California Resource Investment Conference" to bring us this special, pre-show segment about common silver misconceptions. For Kitco News, Daniela Cambone reports.

For more exclusive coverage of the Cambridge House California Resource Investment Conference, please visit:

Politicians Don't Understand Economics (or Gold & Silver) - Mike Maloney

http://www.youtube.com/v/3DAiO3Qmbwc?version=3&f=user_uploads&app=youtube_gdata

http://www.goldsilver.com - Mike Maloney answering questions after his keynote speech at the Casey Research event 'When Money Dies'.

See the original video here:

Politicians Don't Understand Economics (or Gold & Silver) - Mike

UBS On LTRO: 'One More Is Not Enough'

Since the start of the year, global markets have been apparently buoyed by the understanding that Draghi's shift of the ECB to lender-of-last-and-first-resort via the LTRO has removed a significant tail on the risk spectrum with regard to Euro-banks and slowed the potential for contagious transmission of any further sovereign stress. In fact the rally started earlier on the backs of improved perceptions of US growth (decoupling), better tone in global PMIs, and potential for easing in

The Latest Hopium Recap Out Of Greece: Now 100% Recyclable

Just out from the FT (source)

And from Reuters (source):

And yet this from the NYT, from January 28. (Source)

Guess those inches keep getting lost in Zeno's paradox. Oh well: just remeber Buy, Buy, Buy as you Wash, Rinse, Repeat. And if possible, recycle - keep the carbon credits or something, as you cover those now not so record EURUSD shorts.

See the original article here:

The Latest Hopium Recap Out Of Greece: Now 100%

Credit - Cheap Or Not?

Via Peter Tchir of TF Market Advisors,
Last week P&G was able to issue a 10 year bond with a 2.3% coupon, priced to yield just a tad more than that with a spread of T+55. Yesterday, McDonald’s issued 30 year bonds with a 3.7% coupon, priced to yield just over that with a spread of 80 bps versus the long bond.
The Fed is doing everything it can to push people out the risk curve, and in particular is encouraging the hunt for yield in credit products (see here for the must-read

3 Year Bond Prices As Bid To Cover Slides, Directs Take Down Most In 3 Years, Indirects Flee

While it is hard to call that any 3 year paper issuance, which prices at 0.347%, or the second lowest in history, and just wide of the When Issued, a weak auction, this is precisely what happened, as today's $32 billion 3 Year Notes saw a big drop in the Bid To Cover to 3.302 from 3.729 previously, but more importantly saw Direct Bidders account for nearly two thirds of the total takedown, responsible for 63.8% of the entire allotment. This was the highest Primary Dealer allocation in

Silver Update 2/06/12 Moose Poll

http://www.youtube.com/v/JqAeMCvfKiQ?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
Moose Apmex http://www.apmex.com/Product/67204/2012_1_oz_Silver_Canadian_Moose_Wildlife_SeriesFeb_22nd.aspx
Moose Provident http://www.providentmetals.com/2012-canadian-moose-wildlife-series-1-oz-9999-fine-silver.html
Moose Gainesville

David Morgan

http://www.youtube.com/v/uek9SwOXhxo?version=3&f=user_uploads&app=youtube_gdata

See the original video here:

David

Richard Russell: Watch Gold...2012 Fated to be a Monster Year

Author:

Ed Steer

Yesterday in Gold and Silver

Ed_GSDFebruary 7, 2012 11:22am GMT

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It was ultra quiet in the gold world yesterday, as it seemed that all the New York traders were recovering from the Super Bowl parties. The only activity of note were the two minor sell-offs shortly after London opened. Whether they were caused by a long holder selling...or new short

Monday, February 6, 2012

CBO Solution to Budget Crisis - Everyone Bend Over!

CBO Solution to Budget Crisis - Everyone Bend Over!
Courtesy of Bruce Krasting

I look at the political landscape and conclude that we’ve got more of the same in front of us. I think Obama will win, and the Republicans will control the legislative side. For the sake of this discussion, assume that is how it works out.
As of today, there is an economic firestorm that is programmed to hit on January 1, 2013. It’s the kitchen sink - the Bush tax cuts (all of them), the payroll tax

The Endgame: Japan Inc. Seeks Salvation Overseas

Wolf Richter www.testosteronepit.com
Japanese companies spent $70 billion on acquisitions overseas in 2011—a record. Healthcare was the largest sector, $20.6 billion. Armed with a ferociously strong yen, they’re trying to escape the pressures at home. After the Fukushima disaster, one nuclear power plant after another has been taken off line for maintenance. And they stay off line. Now, only four of the 54 are still operating. Fossil fuel plants cannot keep up with demand

RBA Keeps Cash Rate Unchanged At 4.25% On Expectations Of 25 bps Cut, AUD Spikes

When all else fails, pretend it's all good. Like what Australia did, following the just released announcement by the RBA that it is keeping the cash rate unchanged at 4.25% on expectations of a 25 bps rate cut. Which begs the question: is China re-exporting the lagging US inflation it imported over 2011? So it appears to Glenn Stevens, who just said that "Commodity prices declined for some months to be noticeably off their peaks, but over the past couple of months have risen somewhat

The IRA | Facebook "Jumps the Shark" Interview with Michael Whalen

Had to cross post this discussion with my brother Michael Whalen from The Institutional Risk Analyst. The past articles in The IRA require a $99/yr subscription, but the most recent is free.
Also note link to comment by Barry Ritholtz on The Big Picture re: the Facebook IPO. Actually Goldman Sachs led the covert IPO and hype festival last year, but the folks at the SEC and FINRA were sound asleep.
Chris
Facebook "Jumps the Shark" Interview with Michael Whalen
The Institutional

Dear Valued Client: Goldman Is Trying Desperately To "Re-package" Those MBS for You

And so we've come full circle. The WSJ is reporting that the Federal Reserve Bank of New York will be seeking bids by the middle of this week for roughly $6 Billion dollars worth of residential mortgage backed securities currently held in Maiden Lane II. This would be on the heels of a $7 Billion dollar sale on January 19th to Credit Suisse.
What's notable here is that the Fed said the January sale was prompted by an unsolicited bid from Goldman Sachs (as ZH discusses

A "Quality Assessment" Of US Jobs Reveals The Ugliest Picture Yet

Over the past week we have repeatedly exposed the BLS' shennanigans to both keep the headline unemployment rate suppressed and to generate an upward bias in the market courtesy of a "bigger than expected beat" of expectations. Granted, various semantics experts continue to scratch their heads in attempting to explain a collapsing labor force when even Goldman's Sven Jari Stehn just predicted that it will drop to 63.1% by the end of 2012 (and 62.5% by the end of 2015). Funny then that the

Should You Be Subsidizing Executive Compensation In The Name Of Job Creation?

On Friday every main stream media organization was hyperventilating over the amazing NFP number and the Unemployment rate. Three years after the great recession ended JOBS were created. Hallelujah - end of story. But has anyone really thought about what kinds of jobs are being created (other than Zerohedge). Has anyone thought about how their tax dollars are being used to support the very generous compensation packages of Executives (higher stock prices are always good for executives who

Volumeless Equity Recovery Ignores Broad Risk Asset Derisking

While the EURUSD's recovery post Europe's close seemed to modestly support stocks, the USD is still up from Friday's close as ES (the e-mini S&P 500 futures contract) closes marginally in the green against the direction of FX carry, Treasuries, commodities broadly, and credit. The volumeless (and gravitationally unchallenged) push from post-Europe dip lows this afternoon were generally ignored by VIX, investment grade, and high-yield credit markets, after the morning was a relatively

Guest Post: Bringing The "Not In The Labor Force" Mystery To Light

Submitted by Lance Roberts of Streettalklive.com
Bringing The "Not In The Labor Force" Mystery To Light

There has been much debate over the weekend regarding the 1.2 million individuals who moved into the "Not In Labor Force" category in Friday's Bureau of Labor Statistics report, which included an increase to the total population of 1.5 million. From the Wall Street Journal:
"Here's what happened: According to the Census Bureau, the civilian population grew by 1.5 million people in

Harry’s Law | Video Clip – Civil Disobedience Isn’t Just a Right, It’s a Duty, Wake Up America!

A women who lost her house due to the mortgage crisis, and her bank screwing her over with refusing to work something out, and makes a statement by robbing her bank.
The DA wants to give her 20 years for stealing a relatively meager sum of $60,000, despite the fact that she didn't hurt anyone, didn't kill anyone, and didn't even disguise herself, because she wanted to make a point.
But is she really a criminal? No, and Tommy tells us why. People who watch this; listen to his words, and

Negative Bank Preannouncements Begin

We are not even half way into the quarter, and the negative preannouncements for financials have already begun:

MACQUARIE SAYS `SUBSTANTIALLY LOWER LEVELS' OF CLIENT ACTIVITY - BLOOMBERG

Why is this the case? Just read the previous post on market volume hitting decade lows. And while there are just under 2 more months left in the quarter, absent some seismic volatility explosion in the next month (ahem, Greece) we fail to see how bank revenues will grow at all sequentially, let alone

Sheeple Awakenings

Beware what you ask for... Today's cartoon of the day comes from xkcd.com

See the original article here:

Sheeple

Guest Post: What If We're Beyond Mere Policy Tweaks?

Submitted by Charles Hugh Smith from Of Two Minds
What If We're Beyond Mere Policy Tweaks?
The nation's ills cannot be fixed by thousands of pages of regulation or more policy tweaks. Only a profound cultural transformation can address our problems.
The mainstream view uniting the entire political spectrum is that all our financial problems can be fixed by what amounts to top-down, centralized policy tweaks and regulation: for example, tweaking policies to "tax the rich," limit the size

THiS Is A "CReDiT EVeNT"

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THiS Is A "CReDiT

Greece Should Take Control and File Chapter 11

by S J Morton
macroandcheese.org
Greece is surrounded by the banker Barbarians at the Gate. Not the apostate free market investment bankers, mind you, that ship sailed years ago. No, these are the “independent” central bankers and their backers, the various heads of state who are trying to protect the Euro and their own national treasures. Greece should file Chapter 11 and send them packing. Every single airline on the planet can’t be wrong.

It’s plain to see that Greece

USS Enterprise Holding Drills To Attack Made Up 'Faux Theocracy' Shahida States And 'Pesky Garnetians'

A few days ago we presented some speculation on what the final deployment of the 50 year old USS Enterprise aircraft carrier in the Arabian Sea may mean from a strategic standpoint, today we get to hear it from the US Navy itself. And just when we thought we had heard it all, we now get confirmation that the farcism that has defined capital markets for the past 3 years is slowly migrating to military planning. "The carrier and its entourage of support ships are in the Atlantic Ocean,

Greece has No Idea What It's Gotten Itself Into

Graham’s note: the following is an excerpt from a recent issue of my Private Wealth Advisory newsletter with some additional research I did on the economy of Greece.

The Greeks have no idea what they’ve gotten themselves into.

A few facts about Greece…

First off, demographics wise, Greece is a disaster.

Real Clear Markets shares the following facts.

Greece’s fertility rate is 1.3 children per women. This is nearly a full child below the “replacement

Stocks And Euro Fall (€1,315/oz) As Possible Greek Default Looms

From GoldCore
Stocks And Euro Fall (€1,315/oz) As Possible Greek Default Looms
Gold’s London AM fix this morning was USD 1,717.00, EUR 1,315.31, and GBP 1,090.85 per ounce.
Friday's AM fix was USD 1759.50, EUR 1,335.48, and GBP 1,110.66 per ounce.
Gold has followed the now familiar trading pattern of gains in Asia followed by weakness in Europe. While gold has fallen and is weaker in most currencies gold remains higher in euro terms due to euro weakness on the concern of a Greek

A Shift In European Sentiment - Is Germany Prepared To Let Greece Default?

Something quite notable has shifted in recent weeks in Europe, and it originates at the European paymaster - Germany. While in the past it was of utmost importance to define any Greek default as voluntary (if one even dared whisper about it), and that the money allocated to keep the Eurozone whole would be virtually limitless, this is no longer the case. In fact, reading between the headlines in the past week, it becomes increasingly obvious that Greece will very soon become a new Lehman,

On China, Greece Playing Chicken, US Ponzinomics and the Inevitable Fall of Manhattan Real Estate

A 7 minute video of my opinions on Greek haircuts, US and Manhattan real estate overvaluation, China bubble busting and hard landings, Case Shiller shortcomings and Germany's penthouse suite in the EU roach motel.

Below I have aggregated hours worth of related content via video, blog postings and subscriber research...
Related Videos

1 21:08 Reggie Middleton Illustrates Pitfalls of American Ed... by BoomBustBlog 3,149 views
2 27:53 Reggie Middleton on what the Economic

Sunday, February 5, 2012

Jobs, Jobs, Jobs yeah!

http://www.youtube.com/v/u7KsFr8wIPg?version=3&f=user_uploads&app=youtube_gdata

Government produces bogus job number report and the link is here http://www.cnbc.com/id/46250775 . Steve Jobs created jobs, not Obama! 7 banks bite the dust in January 2012 but the media doesn't talk about that. Bank of America, JP Morgan and Wells Fargo are being sued over MERS and the link is here

As Anger Over Russian Syria Veto Mounts, Putin "Briefly" Leaves Europe In The Cold

Yesterday we presented why when it comes to Syria, the UN Security Council can forget any attempt at "overhauling" a regime that is a cornerstone for Russian naval presence in the Mediterranean and the middle east. Today, in the aftermath of the UN reminder that it is the world's biggest collection of post-facto hypocrites, not to mention, the world's most irrelevant and ineffectual organization, anger at the Russian and Chinese veto has already manifested itself, as protesters have

MaDoNNa BoWL 2012

See the original article here:

MaDoNNa BoWL

Ron Paul: Restoring Honor. Restoring America.

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

There is one candidate who is restoring honor to America. His name is Dr. Ron Paul. He is the champion of the Constitution, and that's why Americans from all walks of life love him. Many of us would take a bullet for this man. RonPaul2012.

http://sgtreport.com/

Please visit & subscribe to Chris Ross' You Tube channel:
http://www.youtube.com/user/watchdogpoets

My thanks to Chris Ross for his musical

6 Hour Greek Meeting Ends With No Agreement, Troika Demands Answer By 11am Tomorrow, EURUSD Drifts Lower

The Greek endgame appears to be approaching... or not. After a "marathon" (in Greek terms) session between the Greek coalition cabinet members ended with no definitive agreement, and in fact LAOS president said that more austerity would "contribute to a recession that the country can not afford, and a revolution of misery which will then burn down Europe", while New Democracy's Samaras stated he would "not permit any more austerity", even as Papademos on the other line apparently said

Larry Summers on Labor Participation Rate

Larry Summers Blows It on TV

Courtesy of Bruce Krasting

The Labor Force Participation Rate (LFPR) is a key economic statistic today. Changes in the LFPR are shaping the direction of the capital markets, federal economic policy, monetary policy and, most importantly, politics.
The LFPR hit a new record low on Friday. The key question that must be answered is:
Is the current LFPR a temporary phenomenon, or is this the “New Normal?”
If the current LFPR is, in fact, the new normal

Hedge Funds Start 2012 At A Blistering Pace

Not too surprisingly, following an atrocious year for hedge funds in 2011, 2012 has opened with a bang, as virtually all of the brand name funds are green for the year, while the best performers are all the European focused funds which last year crashed and burned. Call it sector rotation into the most hated names (something we took advantage of two weeks ago with our bizarro market strategies), or just call it a dead cat bounce, one can see why nobody wants the party to end: just a few

On The Failure Of Inflation Targeting, The Hubris Of Central Planning, The "Lost Pilot" Effect, And Economist Idiocy

As an ever greater portion of the world succumbs to authoritarian control (whether it is of military disposition, or as we first showed, a small room of economists defining the monetary fate of the future as central banks now hold nearly a third of world GDP within their balance sheets) we can't help but be amazed as the population simply sits idly by on the sidelines as the modern financial system repeats every single mistake of the past century, only this time with stakes so high not

Live Feed From Syntagma Square

With Greek politicians on the verge of selling out the population more than ever before only to preserve the country's ability to be an ECB toll stop, where it takes Troika money and promptly pays Greek creditor banks, the time to return to the Syntagma Square webcam has arrived especially since tonight is the night when the population learns if Greece will comply once again with Troika demands for record austerity or finally cut the cord. Because with the latest round of troika demands

Is Obama's Peace Prize About To Be Confiscated? Nobel Peace Prize Jury Under Investigation

The announcement of Obama's recognition by the Nobel Peace Prize committee in 2009 seemed, to many, more like an 'Onion-worthy' headline than reality but now, as The Associated Press reports, it seems the officials face a formal inquiry over the selection criteria that could rescind the last three years' awards. The accusations at the root of the inquiry stem from persistent complaints by a Norwegian peace researcher that cites the original purpose of the prize was to diminish the role of

Time To Hedge

Since the summer of 2010, the way gold was viewed and used by the overall market has changed. For much of the period from Jan 1, 2008 until June 30, 2010 for example, gold (GC) has had an inconsistent relationship, in correlation terms, relative to the S&P 500 (SPY). There were times during this period when it moved in the opposite direction, but much of this time it moved in the same direction as the market. This can be seen in the first chart shown.

Toward the end of

Martenson Interviews Dines: 'Wealth In The Ground' Is Your Best Bet to Surviving the Coming 'Supernova of Inflations'

Submitted by Chris Martenson
James Dines: Owning 'Wealth In The Ground' Is Your Best Bet to Surviving the Coming 'Supernova of Inflations'
James Dines has been in the business of making bold calls for over 50 years. In this deep-diving interview, he minces no words about the dire risks the US economy - and the world at large - faces at this juncture.
Simply put, he sees the excessive credit in the financial system as having placed the global economy on a collision-course with

Guest Post: The State of US Surveillance

Submitted by Doug Hornig of Casey Research
The State of US Surveillance
Lovers of liberty have seemingly had a good bit to celebrate recently.
First, there was an unprecedented outpouring of negative public sentiment about the Congressional bills SOPA (House) and PIPA (Senate); they are legislation that would have thrown a large governmental monkey wrench into the relatively smooth-running cogs of the Internet. Millions of Americans signed online petitions against the bills after

Angry Youths Attack House Of Greek President Papoulias; Hurl Rocks, Molotov Cocktails

Instead of defaulting a long time ago (when we first suggested it should) when it could have pulled an Iceland, taken a bitter pill, hyperinflated the drachma and in the process delevered overnight, if at a big social cost of losing its welfare safety net (which it is about to lose anyway courtesy of the PSI and OSI), and not be held captive to bigger geopolitical interests, and hostage to the banker superclass, Greece very likely could have been on the road to recovery now, granted with a

Saturday, February 4, 2012

Europe Rises Up Against ACTA

The widespread protests against the anti-democracy bill ACTA by the Polish people have forced Poland’s prime minister to stall – or perhaps even back out – of the treaty. As TechDirt notes:
Following the growing protests about ACTA in Europe, as well as signs of US meddling, Poland’s prime minister is making it clear that Poland will not ratify ACTA for the time being, leading to speculation that the EU may not actually join ACTA.

Tusk’s backtracking could spell the end of

G.O.P. PoSTCaRDs FRoM LaS VeGaS...

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INTRODUCING LIEBEROMNEY
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THE KING

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See the original article here:

G.O.P. PoSTCaRDs FRoM LaS

Following "Very Difficult" Troika Teleconference, Greece Nowhere Near A Deal As Sunday Night Deadline Approaches

It is not shaping up to be a pleasant weekend for Greek finance minister Evangelos Venizelos, who as a reminder until June 17, 2011 was the Greek defense minister and likely the man responsible for buying up all that European military equipment (with whose money nobody knows), or his boss, G-Pap successor and former ECB VP Lucas Papademos. The reason is that Greece is scrambling to reach a deal with the Troika that permits the €130 billion second bailout to be disbursed (unclear how the

Explaining Yesterday's Seasonally Adjusted Nonfarm Payroll "Beat"

Since there still is confusion regarding yesterday's whopping "surge" in non-farm payrolls, which represented a 243K jump in the Establishment survey (of which 490K was temp jobs, same as in the Household Survey where temp jobs soared by a record 699K), yet only to arrive at an employment number last seen ten years ago, when the US population was about 30 million lower (think about that: 30 million increase in population and no change in the total employed), here is the final explanation

Now Even Greek Politicians Are Taking Cover

Wolf Richter www.testosteronepit.com
Greeks yanked €65 billion out of their bank accounts since 2009, Finance Minister Evangelos Venizelos told parliament on Friday. “Of that total, €16 billion has been legally taken abroad,” he said. The rest? Stashed under mattresses or hauled to Switzerland via the land route. A whopping 20% of GDP! Capital flight of massive proportions. They see a forced conversion of their euros to drachmas. With good reason.
"The case of Greece is

Butler On Business INTERVIEWS David Morgan

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

http://www.silver-investor.com/

See the original video here:

Butler On Business INTERVIEWS David

How Europe Has Evolved From A Democracy To A Bankocracy And Why Austerity Will Lead To Chaos

In one of the clearest (and most optically pleasing) discussions of recent months, David McWiliams (of Punk Economics) succinctly explains how Europe has evolved from a democracy to a bankocracy, the implications of which lead to austerity for the people and a Franco-German imposition (the 'fiscal compact') that can only lead to social unrest and chaos. In this brief (and expertly illustrated) video, the Irish economist clarifies Europe's 'dirty little secret' where economic policy is

Corrective Action in Gold is Prelude to Bullish Explosion: James Turk

Author:

Ed Steer

Yesterday in Gold and Silver

Ed_GSDFebruary 4, 2012 3:26pm GMT

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Well, the little rally that began shortly after London opened yesterday morning topped out about 9:30 a.m. GMT...and that was the high for the day.From there, the price declined until just before 1:00 p.m. in London..and then rallied a bit into the Comex open at 8:20 a.m. Eastern time, about half

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