Roubini’s Bearish Forecast Is Bullish For Gold
Gold will still be supported by central banks who add to their reserves, plus strong Asian interest from investors and consumers. (Read Full Story)
Broken Dollar
It has been my theory that this year we would see one of the worst performances by the stock market since 2008. (Read Full Story)
$58-60 silver price by September says Dubai silver trader
It is far more profitable to trade silver than gold where the margin is much smaller… (Read Full Story)
Fed To Markets: Buy Gold And Silver
The Fed just spoke.Here’s a slightly edited transcript: Blah blah blah …the economy has been expanding moderately …blah blah blah boilerplate… (Read Full Story)
Steen Jakobsen on Maximum Intervention “Now is the Time You Need Metals – Particularly Gold and Gold Stocks”
Both the ECB and the FED have now clearly showed that the changed board of directors is far more willing to print money and keep rates low forever than ever before in central banking history – which is probably not a good thing or is it? (Read Full Story)
Taxpayers Still In Hole $133 Bil From Gov’t Bailouts
Financial Crisis: The bailouts of the last three years were a rousing success, Democrats like to say, a shining example of how government activism can save the economy. Really? A new government report suggests otherwise. In 2010, the newspapers were full of reports of companies … (Read Full Story)
Government Accounting Is Like Lemonade Stand Economics
It is tempting to think that the Soviets perfected negative-value-added investment — the stuff produced is worth less than the value of the resources to produce it. However, most families have experienced this first hand. It usually surfaces with an entrepreneurial adolescent deciding it … (Read Full Story)
STEVE ROACH: We’re Completely Screwed
One of Wall Street’s most respected economists is not buying this rally. (Read Full Story)
If The Economy Is Improving….
Everywhere you turn these days, someone is proclaiming that the economy is improving. Barack Obama is endlessly touting the “improvement” in the economy, the mainstream media is constantly talking about “the economic recovery” and an increasing number of Americans seem to be buying into this line of thinking. (Read Full Story)
On January 25, 2012, two letters starting making the rounds, concerning three lawsuits filed alleging Barack Hussein Obama is not eligible to appear on the Georgia primary ballot.
The three attorneys involved in the three lawsuits are Mark Hatfield, Van Irion and Orly Taitz. The cases brought by Hatfield and Irion allege that Obama is not eligible as his acknowledged father, Barack Hussein Obama (Sr), was a British subject at the time of Obama’s alleged birth on 4 August 1961, allegedly in Hawaii; that, as such, Obama does not meet the requirements of natural born citizen as required by Article II, Section 1, Clause 5, United States Constitution. The other case, brought by Taitz, alleges that Obama has presented forged birth certificates, a forged selective service registration, and is using at least one social security number that is not his. At an early court hearing, Judge Malihi agreed to separate the cases but set the hearing date for all three for January 26, 2012, with Hatfield and Irion presenting their cases, then Taitz presenting her case. Continue reading →
I told you so. This was the housing policy bombshell from President Barack Obama’s State of the Union address:
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 bottom to get some relief. That’s why I’m sending this Congress a plan that gives every responsible homeowner the chance to save about $3,000 a year on their mortgage, by refinancing at historically low interest rates. No more red tape. No more runaround from the banks. A small fee on the largest financial institutions will ensure that it won’t add to the deficit, and will give banks that were rescued by taxpayers a chance to repay a deficit of trust. Continue reading →
Unhappy anniversary
It’s been 1000 days since the senate Democrats have passed a budget. (Read Full Story)
I’m worse off than my parents
Even though they have jobs, many Americans find they aren’t as well off as Mom and Dad were at their age. (Read Full Story)
Silver Sales Up As Supply Slips
For the first time in history, Silver Eagle & Maple Leaf sales will surpass domestic silver production in the U.S. and Canada in 2011 … (Read Full Story)
$58-60 silver price by September says Dubai silver trader
It is far more profitable to trade silver than gold where the margin is much smaller… (Read Full Story)
When Will Silver Reach a New High?
It’s a commonly known fact that silver is more volatile than gold. Already in this decade, silver has risen by a factor of 12 from its ten-year low ($48.70 vs. $4.07), while gold has seen about a sevenfold climb ($255.95 vs. $1,895). (Read Full Story)
More QE on the Way
The next FOMC meeting is scheduled for this week, but there is little chance that the Chairman will announce the new round of bond-buying. But listen for Bernanke to list the continuing woes of the housing market, and its drain on the economy and growth. Housing will be the new demon. And Ben will excise it with a Trillion dollar dose of his favorite restorative quantitative elixir. (Read Full Story)
Hardest-hit areas
These 100 U.S. zip codes were impacted the most by foreclosures, according to RealtyTrac. Welcome to deez Plantation Mutha Fuggahs! (Read Full Story)
Democrats’ Three Years Of No Budget Is All About Deception
Congress: The last time the Democratic-controlled U.S. Senate passed a budget was April 29, 2009 — 1,000 days ago. It’s no mystery why: They don’t want taxpayers to know about the trillions they’re wasting. A published budget would be an election-year death warrant for Senate … (Read Full Story)
Dems: Let Government Determine Reasonable Profits
Big Oil: In the annals of stupid legislation, add a proposal from House liberals that would set up a “Reasonable Profits Board” to decide when oil companies have made too much money. We pay lawmakers for this? The “Gas Price Spike Act” is really just a warmed over windfall profits … (Read Full Story)
If The U.S. Government Keeps Spending Money Like This We Are Doomed And If The U.S. Government Stops Spending Money Like This We Are Doomed
If you increased your credit card spending by a couple thousand dollars per month would your lifestyle improve? Of course it would. By going into large amounts of debt, it is possible to live a lifestyle that you can’t really afford, at least for a while. But if you keep racking up huge amounts of credit card debt every single month, eventually it gets to a point where it is extremely difficult to even keep up with the minimum monthly payments and the credit card companies will not lend you any more money. Well, on a larger scale it is the same thing with government debt. (Read Full Story)
Gingrich calls for U.S. Gold Commission
Gingrich has called for the creation of a Gold Commission “to look at the concept of how we get back to hard money.” (Read Full Story)
Zombie debt creeps onward in Idaho courts
A thriving debt industry sues Idahoans to get paid, and only a few fight back. This story may be from Idaho but it is universal in all the states. (Read Full Story)
Survey: Small businesses don’t want anything to do with the government
Economic uncertainty and concern about government regulations have small businesses worried for the future and disinclined to hire new employees, according to a fourth quarter survey by the U.S. Chamber of Commerce. The study surveyed 1,322 small business executives, and found that just over half said “economic uncertainty” was one of the top reasons they were not hiring new employees. (Read Full Story)
One Million Homeowners May Get Mortgage Writedowns
About one million American homeowners would get writedowns in the size of their mortgages under a proposed deal with banks over shady foreclosure practices, U.S. Housing and Urban Development Secretary Shaun Donovan said [last] Wednesday. (Read Full Story)
Feds Spend $1.6 Million to Restore “La Raza” Murals Celebrating “Aztlan” and Che Guevara in San Diego
Barack Obama and Jerry Brown have found a new, outrageous way to use our tax money to fund the restoration of racist, subversive, hateful, anti-American, illegal murals (graffiti) on state property (freeway bridges) in San Diego, USA. (Read Full Story)
Everything The Government Is Unofficially Funding This Year
You might rightly ask, “What’s that big chunk of money being spent on?” The biggest chunk is the military (68%). Even with partisan politics and an election year, the military will likely get its money without much of a fight. The CBO report spells out where the rest of the dough is being spent. (It runs 100 pages.) Welcome to deez Plantation Mutha Fuggahs! (Read Full Story)
HOW TO CONDUCT YOUR OWN DUE DILIGENCE ON A BANK OR BROKER
We live in a time when you can no longer assume away counterparty risk simply because banks and brokerages are regulated by a government. If you’re depositing money with someone, you should look at them like a financial partner. And, as with any partner, it’s imperative to get to know who you’re dealing with. (Read Full Story)
Fractal Analysis Suggests Higher Silver Prices Are Coming
The price of a good often behaves in a similar manner at or around the same kind of milestone. An example of such a milestone could be a significant top. Price often forms a similar type of pattern at different significant tops – different in terms of time of occurrence. This is a reflection of… (Read Full Story)
Silver’s Surge
The precious metals are doing well, especially silver and palladium but just because gold isn’t really moving up doesn’t mean it’s sick. (Read Full Story)
Gold Confiscation, a Reality? Part III
Gold as a financial asset may provide a safety net as well as the means to repair national currencies. All the world’s currencies are interlinked, and banking systems are telling us that gold has already swung into action to provide financial relief. But it will need to see a very large expansion of this role if it is to defer or rectify these crises. (Read Full Story)
Inflation: The Only Tool Left
The banking, economic, and political leaders have not pursued reform and remedy in any remote sense. Their only tool left is hyper inflation. (Read Full Story)
Gold: How High is High?
Now that the sound of cork-popping and other signs of celebrating the New Year, and the new record highs in the price of gold, are dying down, some questions… (Read Full Story)
How Deflationary Forces Will Be Turned into Inflation
The ongoing financial and economic crisis has not only stoked fears that it will end in inflation — as central banks will print up ever-greater amounts of money — but it has also given rise to a diametrically opposed concern: namely, that of deflation. (Read Full Story)
MAULDIN: Staring Into The Abyss
“If we want everything to stay as it is, everything will have to change.” (Read Full Story)
Slashing Sovereign Debt Is Not A Path To Prosperity
Europe is now haunted by the specter of debt. All European leaders quail before it. To exorcise the demon, they are putting their economies through the wringer. It doesn’t seem to be helping. (Read Full Story)
Warning Signs That We Should Prepare For The Worst
The warning signs are all around us. All we have to do is open up our eyes and look at them. Almost every single day there are more prominent voices in the financial world telling us that a massive economic crisis is coming and that we need to prepare for the worst. (Read Full Story)
WASHINGTON (Reuters) – The Treasury on Tuesday started dipping into federal pension funds in order to give the Obama administration more credit to pay government bills.
“I will be unable to invest fully” the federal employees retirement system fund beginning Tuesday, Treasury Secretary Timothy Geithner said in a letter to Democratic and Republican leaders in Congress.
The House of Representatives is expected to vote on Wednesday on the Obama administration’s request to raise the country’s legal debt limit to $16.394 trillion.
However, unless the lower chamber and the Senate are able to shore up enough votes to block the White House request, the debt limit will be increased by $1.2 trillion next Friday and a repeat of last year’s debt ceiling debacle will be averted.
Geithner said Treasury started suspending reinvestments in a federal pension fund known as the G-Fund — a tool Treasury has had to employ six times over the past 20 years in order to keep the country below the statutory debt limit.
The Treasury Department has already tapped another seldom-used fund in order to allow the government to continue borrowing without running afoul of the country’s laws.
Written by Rachelle Younglai for Reuters and published on Yahoo.com, January 17, 2012. Continue reading →
Gold Trend Forecast for 1st Quarter of 2012
Over the past five months gold has fallen sharply and is no longer headline news which it once dominated back in 2011 when it was making new highs every day. The shiny metal has been under pressure because traders and investors started to pull some money off the table to lock in gains. Gold prices had surged so fast most advanced traders knew that final high volume surge was not sustainable. But the main reason gold topped out in my opinion was because the US Dollar index had put in a bottom and started to build a base. As we all know a rising dollar typically means lower stocks and commodity prices. (Read Full Story)
Will Gold Regain its Safe Haven Status in 2012?
Last year was an eventful one for the gold market.The yellow metal was up 10 percent in 2011 for its 11th consecutive annual gain.But despite… (Read Full Story)
Financial Clearing Houses: The Next Casualty Of The Crisis?
Clearing houses — the plumbers of high finance — could become the next casualties of the crisis as regulators insist that banks run their riskiest and private trades through them. (Read Full Story)
Lessig: On America’s Lost Ability to Govern, Legalized Corruption, our Broken Republic, and How to Approach Fixing It
There is a feeling today among Americans that we might not make it. The feeling of inevitability of American greatness is gone… that we have become Britain or Rome or Greece. A generation ago, Reagan rallied the nation to deny a similar charge by Jimmy Carter. Reagan was right. But it is different today. Not that we as a people have lost anything of our potential. But we as a Republic have. (Read Full Story)
Obama’s Legion of Unconfirmed Nominees
While Congress bickers, scores of positions go unfilled leaving a swath of high-level vacancies across government agencies. Yeah? Well leave ‘em empty and save the taxpayers some moola. If they have been vacant this long – who in the hell needs them? (Read Full Story)
Gas prices may get close to $5 in some spots
The new year has greeted Americans with the highest January gas prices ever, and some analysts say prices could get close to $5 a gallon in some areas during the warm-weather driving season. Sho’ nuff butz whinz Uncle Ream-US tooks possession ob de White House 3 years ago – gas wuz $1.79 a gallon! Welcome to deez Plantation Mutha Fuggahs! (Read Full Story)
Inflation seen easing, housing improving
In the words of Aretha Franklin, “Who’s Zoomin’ Who?“ (Read Full Story)
Ack! They Are Actually Going To Let Greece Default!
Can they afford K-Y Jelly? (Read Full Story)
Who Really Owns Your Gold Stocks?
Great read – but I covered this story in 1995. Do a Google on the Depository Trust Company and Cede. (Read Full Story)
You can find a coin shop in nearly every town in the United States. The proprietor is unlike any you will find in any other store. He is unusually steeped in history, intensely aware of the larger context of the passing economic and political scene. This is because if it is a good shop, you will find the whole history of modern life on exhibit, and learn more from looking than you find in a multivolume history.
There they are on display: coins from all lands. Why are they worth more than the coins in your pocket? Because they are old? That’s part of it. There are some new coins here that are also just as valuable as the old ones.
What is critical is that they are made of gold and silver. You can pick them up and tell the difference. They are heavy. Stack them and let them fall on each other and they make a different sound from the coins that usually rattle around in your pocket.
It strikes everyone and anyone immediately. Somehow these coins are “real”; the coins we use today are not. But what does this really mean? And what does it imply? Continue reading →
Silver Over $50 Coming Sooner Than You Think
I still believe that silver is entering a cyclical turning point in which it should begin a significant, but final, rally. The next few months are traditionally quite bullish for the metals. (Read Full Story)
EIGHT SIMPLE TRUTHS YOU NEED TO KNOW ABOUT 2012
Things like a restructuring of public pensions and Social Security in Europe and the US. Western governments blocking Internet and mobile networks. War. The US government being forced to issue debt in a foreign currency. (Read Full Story)
The Possibility of $1,000 Silver before Hyperinflation
2011 was both an amazing and disappointing year for silver investors. The most disappointed of all are those who bought in during the April highs, when silver almost reached $50. However, what these investors need to remember is that not too long ago, people were fretting over changes in prices of ten cents or less. Not too far down the road, the difference between $29 silver and $50 silver will also seem rather minimal. A look at some of the fundamentals which underpin the silver… (Read Full Story)
The Bear Dines Out
Needless to say, watching (and feeling) your money being eaten alive by a multi-year bear market is not pleasant. In fact it’s the kind of experience that might prompt you to make a change by, say, selling your shares and giving up on the market once and for all. (Read Full Story)
Gold Rallies Most in 10 Weeks on Iran, Dollar; Wien Sees $1,800
Gold futures jumped the most in 10 weeks on demand for a haven following a report that Iran produced its first nuclear-fuel rod. Silver surged the most in five months as the dollar’s decline spurred a commodity rally. (Read Full Story)
2012: More Money-printing Leading to Accelerating Inflation, Rising Interest Rates & Then U.S. Debt Crisis!
Evidence shows that the U.S. money supply trend is in the early stages of hyperbolic growth coupled with a similar move in the price of gold. All sign point to a further escalation of money-printing in 2012…followed by unexpected and accelerating price inflation, followed by a rise in nominal interest rates that will bring a sovereign debt crisis for the U. S. dollar with it as the cost of borrowing for the government escalates… (Read Full Story)
Food Price Volatility Hits the World
Many factors seen over the past decade have produced higher food prices: population growth, urbanization, the decline of arable land per person, and the upgrading of diets for example. But more damaging than food inflation has been the pushing of global food prices out of their long, quiet envelope of stability. Welcome to deez Plantation Mutha Fuggahs! (Read Full Story)
Psychopaths Caused the Financial Crisis … And They Will Do It Again and Again Unless They Are Removed From Power
The Inmates Are Running the Asylum (Read Full Story)
Would A Ponzi By Any Other Name Smell As Bad?
The bond market has always had clever names for bonds in specific markets. Eurobonds, Yankee bonds, Samurai bonds, and now, Ponzi bonds. I’m not sure what else to call these new bonds, but Ponzi bonds seems as good as anything. (Read Full Story)
Any Difference Between Fractional Reserve Banking and Hypothecation?
Even though people are now more aware of what’s going on in the financial industry, the question is are they doing enough to protect their assets from being ‘hypothecated’, like in the case of MF Global. (Read Full Story)
