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Sunday, April 3, 2011

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Growing Strength

Posted: 03 Apr 2011 06:24 AM PDT

Mercenary Links Roundup for Sunday, April 3rd (below the jump).

04-03 Sunday

Hiring Shows Growing Strength – WSJ.com
Wages Fail to Keep Up With Inflation – WSJ.com
Economic Security Beyond Reach of Many Americans – NYTimes.com
Fed's Next Moves Spark Debate – WSJ.com
Minneapolis Fed President Sees Higher Rates by Year End – WSJ.com
U.S. Service Industries Probably Grew at Close to Fastest Pace Since 2005
U.S. Economy Added 216,000 Jobs in March – Rate at 8.8% – NYTimes.com
Job Growth Alters Playbook for Obama and His Critics – NYTimes.com
Subprime Bonds Are Back – WSJ.com
Fed Kept Taps Open for Banks in Crisis – WSJ.com
Rep. Paul planning hearing on Fed foreign lending | Reuters
GOP to Propose Cutting Spending by Over $4 Trillion in 10 Years – WSJ.com
The Larger Game in the Middle East – Iran – NYTimes.com
High-Level Libyan Aide Held Talks With Britain – NYTimes.com
Ragtag Rebels Struggle in Battle – WSJ.com
Libya Fight Focuses on Strategic Oil Town – WSJ.com
US 'deeply concerned' by violence in Ivory Coast
Ivory Coast: aid workers find 1,000 bodies in Duekoue – Telegraph
FRANCE 24 – Peacekeepers control Abidjan airport, French military says
Afghan riots over Quran-burning: 2 days, 20 dead – Yahoo! News
Petraeus Says Quran Burning Endangers War Effort – WSJ.com
Terry Jones Demands Retribution for U.N. Deaths – NYTimes.com
Wheat Soars as La Nina's Persistence Threatens Harvests From China to U.S.
BP to resume Gulf of Mexico drilling: report | Reuters
Yen Declines Most in Year Against Dollar Amid Economic Growth Differences
Investors Hide From the U.S. Dollar – WSJ.com
Four Killed as Gulfstream Jet Crashes – WSJ.com
Southwest Jet's Skin Rupture Sparks Probe – WSJ.com
Southwest Grounds 79 Planes After In-Flight Scare – NYTimes.com
GE CEO says will help Japan nuclear plant operator supply power | Reuters
Japan's Nuclear Crisis Is Seen Clearly From Afar – NYTimes.com
Stabilizing nuclear plant to take years
Nuclear Industry Pins Hopes on Longtime Foe – WSJ.com
Australian Flood, Cyclone Disasters to Cost Economy A$9 Billion, Swan Says
Egyptian Stocks Advance After 22% Plunge, Led by Developer Six of October
Stephen Hayward: The Secret to Brazil's Energy Success – WSJ.com
Citi, Capital One involved in widening data breach | Reuters
Citi bankers shocked at Sokol Lubrizol shares: report | Reuters
Italy Plans State Investment Fund – WSJ.com
IMF denies pressing Greece to restructure debt | Reuters
Charlie Sheen's Detroit disaster: Boos, walk-outs for 'Torpedo of Truth'
Genetically modified cows produce 'human' milk – Telegraph
Video: International pillow fight day celebrated worldwide – Telegraph
Belizean Grove, a Mighty Women's Club, Keeps a Low Profile – NYTimes.com
2012 Ferrari FF: The Coolest Ferrari Ever—Drive Carefully
Tiger Woods's Golf Course Design Business Is in the Rough – NYTimes.com
Lunch with Roger Waters
~

Why Aren’t We More Worried About Europe?

Posted: 03 Apr 2011 05:04 AM PDT

Back in February 2010,  a clearly very sharp and articulate reader responded to a DollcarCollapse.com article on Spain's coming sovereign debt problems with the following:

Dear John,

I like very much your site … but about Greece, Spain and the Eurozone you obviously have a US bias. In my opinion, you are indeed missing four key aspects of the situation:

1. Greece is known for three decades to be 'the' failed EU enlargement. So what is going on there is as much a crisis of the Greek debt as much as an intrumentalisation of the situation by other Eurozone member states to put Greece once for all on the right tracks.

2. for three years, the Eurozone leaders have been desesperately trying to find a way to prevent the Euro-Dollar rate to rocket till 1,60, 1,70 or more. And thanks to the very amateurish GoldmanSachs/hedge funds bets against the Greek bonds and the Euro, they are served on a silver plate with a Euro-Dollar rate at 1,36. So don't expect the Eurozone leaders to hurry anything in order to get the Euro-Dollar rate back to 1,50. -)

3. despite the amazing propaganda machine around the Greek debt (snow storms on the East coast were the only recent things which were not put on the back of the 'Greek bond fear'), the Euro-Dollar is stable at 1,36. Guess what will happen when the 'Greek tragedy' will pass fashion as it starts to do? by the way, with only 70 000 demonstrators in the streets of Athens two days ago (a very small number by Greek standarts), it is now clear that Greek public opinion will accept the austerity measures. Too bad for one of the 'Greek tragedy' scenario: political instability. You may read http://www.leap2020.eu for more on that aspect.

4. Spain got into the Eurozone in a fair way (not like Greece) and its exposure to real estate wounds is nothing compared to US or UK. Meanwhile in the Eurozone the heavyweight, like Germany, is sound … while in the US, it's the heavyweights (California, Florida, New York, Michigan, …) which are in trouble; and in UK, everything is in trouble. So, the day Spain will be suck into such problems will be the exact same day UK and US will be as well. I make a bet that on that very day, nobody will care of Spain and the Euro 'problems' … but everybody will run away from the Pound and the Dollar.

In conclusion, you are right to stick with your great website's name, 'Dollarcollapse' : what we are seeing right now is the early stage of a major currency war. And after a big offensive against the Euro, the Pound is already sinking, and the Dollar has not gained much ground. The counter-attack is coming, thanks to US economy : with no recovery in sight, a Eurozone not falling apart, and the Chinese unloading T-Bonds, …. well, the result will indeed be the coming 'Dollar Collapse' …! -)

It's been a year, and the euro is still hanging in there. And Greece has indeed been replaced in the headlines by the Middle East and Japan. But below the fold, so to speak, the Eurozone's problems have been worsening. None of the PIIGS countries are solvent and each is edging closer to some form of default/debt restructuring/social meltdown. Meanwhile, the ability of the richer European countries to deal with future (and inevitable) crises is politically in doubt. Here's a survey of recent articles on the subject:

No One to Share Burden of Spectacular Irish Banking Cost
The Irish were only recently made painfully aware of financial black days when they were told they were in hock to the private debts of their banks. Last year a so-called Terrible Tuesday was followed by a Tectonic Thursday and other grim days when the public here learned they were to be held responsible for debts of over €46 billion. The bill for bailing out its delinquent banks already amounted to 28% of the annual output of the economy, or more than all the tax revenues the government raises in a year.

But that was before this Thursday's disclosure of stress-test results showed four Irish banks will need €24 billion more from Irish taxpayers. It was just another extraordinarily grim day. It was made clear that Irish taxpayers will be on their own in carrying the costs, while senior bond holders would be protected.

At €70 billion, the public cost of Ireland's banking implosion is spectacular. The bill now represents 45% of the economy's annual output. However, legacy loan losses across the system, including those from a handful of British and Danish-owned lenders, will rise to exceed €100 billion.

Irish Central Bank Governor Patrick Honohan says, for the size of the economy, the bust will be among the costliest in history. "This is quite a big crisis, as everyone knows," the governor said Thursday as the authorities also confirmed the effective nationalization of the entire banking system.

Irish Bow to Trichet on Bondholders as Rescue Hits $142 Billion
Ireland yielded to the European Central Bank to protect bondholders even as its bailout bill for the region's worst banking crisis moved to as much as 100 billion euros ($142 billion) after stress tests.

The ECB in Frankfurt was "solidly opposed" to imposing losses on investors in senior bank debt, Finance Minister Michael Noonan told broadcaster RTE today. The ECB agreed to provide "ongoing" funding for the banks, he said.

Ireland agreed yesterday to inject as much as 24 billion euros into four banks, while leaving bondholders untouched. The government already funneled 46.3 billion euros into the financial system and set up an agency that paid more than 30 billion euros to assume risky property loans. The total equates to about two-thirds the size of the Irish economy.

"The government's position is very clear: It doesn't want to take action on senior bondholders for the four banks that are going forward," said Matthew Elderfield, head of regulation at the central bank, said in an interview with Bloomberg Television. "It recognizes that, on balance, that if you want to have these viable banks able to return to the market that would hurt their capacity to do that."

Spain May Take Over CAM After Talks on Merger Falter
Ailing Spanish savings bank Caja de Ahorros del Mediterráneo began discussing its possible nationalization with the central bank on Thursday, after its merger with three small peers fell apart late Wednesday.

A spokesman said the Alicante-based savings bank, or caja, is presenting the Bank of Spain with a new business plan and an application for money from Spain's state-financed Fund for Orderly Bank Restructuring, also known as FROB. He declined to say how much money the bank, known as CAM, needed, but analysts calculate that it would be enough to give the FROB control of more than 50% of the bank.

The nationalization of CAM would be the first since the Spanish government, under pressure to shore up international confidence in the health of the country's banks, in February set new minimum capital requirements. It said it would take equity stakes in those institutions that weren't able to raise new money. The Bank of Spain estimated that 12 banks would have to raise a total of €15.15 billion ($21.4 billion).

The confidence-boosting exercise, however, fell flat, as many independent analyses said Spanish banks would need much more capital. Moody's Investors Service, for example, estimated that banks would need between €40 billion and €50 billion.

Fitch Slashes Portugal's Ratings To Verge Of Junk
Fitch Ratings on Friday slashed its credit ratings on Portugal to one notch above junk status after concluding that the embattled nation was less likely to seek external support in the near term after setting elections for June 5. Fitch said it viewed external support as "necessary to bolster the credibility of Portugal's fiscal consolidation and economic reform effort, as well as secure its financing position."

It warned that any delay in securing help from the European Union and the International Monetary Fund would increase risk to the country's economy and financial stability; Portugal's borrowing costs have surged to unsustainable levels after Prime Minister Jose Socrates tender his resignation last week following the rejection of his latest austerity package.

Socrates is now head of a caretaker government that will remain in power until a new government is sworn in. Portugal's President Anibal Cavaco Silva said the caretaker government has the power to request external help but the country's Finance Minister Fernando Teixeira dos Santos claims the government has lost legitimacy and therefore wouldn't be able to ask for or negotiate a bailout.

Merkel Faces Pressure on Euro, Taxes
German Chancellor Angela Merkel is coming under pressure to sharpen her party's conservative approach toward Europe, taxes and other issues after a devastating regional election defeat over the weekend.

Voters in the wealthy southern province of Baden-Württemberg on Sunday booted Ms. Merkel's Christian Democratic Union from office after almost 60 years of continuous rule. The stunning loss in a populous state has emboldened party members who have long argued she has strayed too far from conservative principles.

One obvious target for conservatives is the government's strategy for dealing with the euro-zone debt crisis. Many Christian Democrats have been disappointed that the chancellor's harsh rhetoric about runaway government spending in Greece and other weaker euro-zone countries hasn't been backed up by equally punitive policies. Ms. Merkel has sought to appease German voters with public calls for tough sanctions on countries that break deficit rules, but has endorsed generous aid packages demanded by her fellow euro-zone leaders.

And Greece, which did for a while drop from the headlines, is back:

Greek budget deficit likely higher than estimated: minister
Greece's budget deficit "very likely" closed above the official estimate of 9.4 percent in 2010, the finance minister said Wednesday amid signs the government's effort to boost tax revenue are failing.

"We started from a deficit of around 15.5 percent. The 2010 deficit we will find out from the statistics authority, I cannot give an estimate but it will very likely be higher than 9.5 percent," George Papaconstantinou told private Real FM radio, according to a transcript posted on the station's website.

Greek reports this week said the slippage was owing to additional pension fund deficits found by auditors from the European Union's statistics service Eurostat who have been in Athens since last week.

If those findings are confirmed, the 2010 deficit could exceed 10 percent of Gross Domestic Product, the reports said, despite draconian spending cutbacks that sparked waves of general strikes and protests last year. Greek long-term borrowing rates remain prohibitively high and the country's credit standing has been hit by successive downgrades from rating agencies, the latest on Tuesday from the Standard & Poor's.

Greek teachers, doctors on strike to protest planned spending cuts
State school teachers and hospital doctors in debt-ridden Greece have walked off the job to protest planned education and health spending cuts. Doctors in the social security fund system were also on strike for the second day Wednesday, demanding that their fixed-term contracts be made permanent. Health and education unions are planning demonstrations in central Athens later in the day, to protest planned school and hospital mergers.

Some thoughts:

Clearly, nothing has been fixed in the past year. Politicians have made some promises and attempted to keep them. But they've failed. After a round of big spending cuts, the PIIGS countries are still light years away from the Eurozone's 3% deficit target. Germany, meanwhile, has been leveraging itself via debt guarantees, with little to show for it. Voters across the continent seem to have lost their appetite for either new austerity measures or increased bailouts.

Going forward, will any PIIGS country electorate accept a radically diminished standard of living in order to allow big international banks to keep paying six and seven figure bonuses to their executives and traders? Will German voters accept higher taxes and slower growth just so the Portuguese, Irish and Greeks can avoid paying the bills they've run up? The intuitive answer to both is "hell no", and recent elections bear this out. So expect the plans now being cooked up by Eurocrats and their bankers to fall through in the coming year, and be replaced with "haircuts" on euro-denominated bonds, followed by big writedowns in bank earnings.

And that's if the process goes smoothly. The worst-case scenario of riots, falling governments and debt defaults would put Greece and the rest of Europe in the headlines for a long time to come.

Real Bullion Begins to Decouple from Paper-Bullion

Posted: 03 Apr 2011 03:53 AM PDT

In a commentary from the middle of January ("Precious Metals Default Scenarios"), I explained how large differences between the gold and silver markets would mean that a "default" in the gold market would be much different than a default event in the silver market.

Specifically, with silver having major industrial demand and with the world's silver inventories having literally been "consumed", there will likely be an outright "fail to deliver" which leads to a formal default in the silver market. Conversely, the gold market is much different.

To begin with, all of the world's gold has been preserved. While this by no means indicates that gold is "abundant", it does mean that in any potential-default scenario, the bankers would likely be able to scrape together enough ounces to forestall such an occurrence. Alternately, because so much of the "gold market" merely trades paper between themselves, then the mechanism of "cash settlement" (i.e. informal default) can be used to prevent a formal default from occurring.

I further added:

In reality, as the "cash settlements" continue to get larger and more frequent, at some point one or more large holders in this banker Ponzi-scheme are going to lose their nerve, and insist on real bullion rather than paper bribes. Such an event does not need to result in an official default. It merely needs to spook the herd. [emphasis mine]

As word gets out of some prominent investor refusing any quantity of banker-paper in favor of physical bullion (i.e. real "money"), this will cause the holders of $100's of billions of dollars of "paper bullion" products to ask themselves a very pointed question: "am I holding 'bullion' or am I holding 'paper'?" [emphasis mine]

More importantly will be their response to such a question. The two obvious responses are either to demand delivery or to sell their paper bullion...

Flash forward to today, and we suddenly see a new reality in the gold market. Investors are selling their paper-bullion, while loading-up with real "physical" bullion in ever-increasing quantities. Three news stories released over the weekend highlight this "new reality".

On the one hand, we see the most-dubious of all the paper bullion-ETF's, the SPDR Gold Trust (more commonly known by its trading symbol "GLD") experiencing the largest liquidation of units in the history of this fund. From the 1st of January until the end of March, unit-holders dumped 5.4% of this banker Ponzi-scheme.

Meanwhile, in the world of real bullion, two other news items highlight the fact that the sellers of actual, physical bullion are seeing their own inventories cleaned-out as fast they can lay their hands on more metal. One headline reads "Gold Bullion Dealers Rejoice At Continued Market Climb In Improving Circumstances". Obviously these sellers of actual gold didn't see any "liquidation" taking place in their businesses.

At the same time, the irrepressible U.S. Senator, Ron Paul has some pointed questions for the U.S. Mint – which is failing its statutory mandate to provide a supply of legal tender gold and silver coins equal to demand. Paul has hinted at a solution to help increase the supply of U.S. minted coins. Of equal, if not greater importance, Paul is also crusading to eliminate the ridiculous taxation on gold and silver legal tender coins – which (as I have often pointed out) amounts to a ridiculous tax-hypocrisy, where "good money" (i.e. gold and silver coins") is taxed, while the bankers' worthless paper currencies are not.

Clearly the time has come for investors to ask themselves whether we are now seeing the early stages of the disintegration of the paper-gold market. We can only be encouraged that we must be close to such an event when we read all of the pathetic excuses made by Reuters for the large decline in GLD holdings.

Ford Surpasses GM in Monthly Auto Sales

Posted: 03 Apr 2011 03:51 AM PDT

Wall Street Strategies submits:

By David Silver

For only the second time since 1998 (the other time was February 2010), Ford (F) surpassed General Motors (GM) in total U.S. monthly auto sales. Despite gasoline costs being up 17% since the beginning of the year, truck sales continue to be strong, with Ford seeing truck sales up 24.3% during the month and up 21.7% year to date. For GM, the Silverado saw sales increase 8.9% during the month while sales are up 27.6% for the year. For Chrysler, the Dodge Ram saw sales increase 23% for the month and 39% for the year. Additionally, with respect to Chrysler, the recently re-released Durango should be an area for growth.

Chrysler reported the best sales results in nearly three years, while Nissan (NSANY.PK) reported numbers that nearly matched Chrysler's as a result of heavy incentives


Complete Story »

Silver Market Update

Posted: 03 Apr 2011 03:38 AM PDT

Silver is very overbought and this fact coupled with the dramatic spike in the silver gold ratio would normally be expected to lead to a significant reaction by both gold and silver, as usually happened following such a situation in the past, but these are not normal times.

Ron Paul on Legal Tender Laws, Coin Shortages, Interest Rates, Municipal Bonds, the Gold Standard

Posted: 03 Apr 2011 03:04 AM PDT

Global Economic Analysis

The Lost Swift Silver Mine

Posted: 03 Apr 2011 02:56 AM PDT

wvc

Mergers: Best First Quarter Since 2007

Posted: 03 Apr 2011 02:38 AM PDT

Market Blog submits:

By David Berman

If mergers and acquisitions activity is a good way to gauge where we are in the stock market recovery, activity in the first quarter suggests that the recovery is well on its way but still has a long way to go before it moves into peak territory.

According to mergermarket, an independent analysis firm, global M&A activity rose 28.9 per cent in the first quarter of 2011 compared with the same quarter in 2010 – in dollar terms. That marks the busiest first-quarter since 2007.

However, activity is nowhere near record territory. The total value of deals in the first quarter was $591-billion – far short of


Complete Story »

James Turk, Silver backwardation, and the death of the Dollar soon...all on audio.

Posted: 03 Apr 2011 02:12 AM PDT

"I dont remember seeing this ever before, not even the 70's" Like I said in Bears video #4 issued months ago, watch for Gold backwardation soon. Click here to Hear Audio

Fed Transparency? And here comes inflation....

Posted: 03 Apr 2011 02:05 AM PDT

I took this from the Golden Truth. A good short read. Click below to see it all on his blog. The media has been happily reporting that the Fed is making itself "more transparent" with the news that Bernanke will now give quarterly press conferences AND that today the Fed releases the names of the banks who borrowed from the discount window during the 2008 banking system collapse. The

New 28 Year Lows for the Gold Silver Ratio

Posted: 03 Apr 2011 01:24 AM PDT

Got Gold Report

How Far Are We From a Gold Standard?

Posted: 03 Apr 2011 12:11 AM PDT

Soner Kistak submits:

According to The Concise Encyclopedia of Economics, the notion of a gold standard can be defined as:

A commitment by participating countries to fix the prices of their domestic currencies in terms of a specified amount of gold... National money and other forms of money (bank deposits and notes) were freely converted into gold at the fixed price.

A country under the gold standard would set a price for gold and would buy and sell gold at that price. This effectively sets a value for the currency. The "gold standard" executions might either be done fully or partially. For example, the Swiss franc was based on a partial 40% legal gold-reserve requirement between 1936 and 2000.

On the separate subject of monetary supply, there are many terms to define and measure the money supply. While there are conflicting opinions as to their usefulness, many of us come across terms such


Complete Story »

Gold and silver weekly charts

Posted: 02 Apr 2011 11:30 PM PDT

Jesse's Cafe

Is Gold in a Bubble Now? Both Sides of the Coin

Posted: 02 Apr 2011 11:20 PM PDT

By way of background, it strikes me that many media journalists and Internet newsletter writers and commentators either don't address the correlation between what they speak or write about, and other factors that are relevant to their topic. For example, many of those who speak and write about gold don't distinguish between physical gold as a safe haven and gold in the context of mining company shares. For some time now I have believed that those who hold physical gold solely as a safe haven shouldn't worry themselves a whole lot about gold's day to day price. At the same time, those trading or investing in gold exploration and production company shares ought to worry a lot about gold day to day price.

I suggest you keep these things in mind as you read this commentary and some or all of the articles it links to. If you are interested,


Complete Story »

What the Monthly Charts Are Telling Us Now

Posted: 02 Apr 2011 11:02 PM PDT

Richard Suttmeier submits:
Today I present the monthly charts for the US capital markets to show how Federal Reserve policy began speculation in gold and crude oil and US stocks, while yields began a longer term trend higher. We have the first step towards a Dow Theory Buy Signal, but fundamentally stocks are trading under a ValuEngine Valuation Watch.
Tracking Dow Theory - The Dow Transports ended March with a daily close above its February 17th closing high at 5298.10. This is just a fractionally higher close at 5299.89, so the Dow Industrial Average needs to follow with a close above its February 18th closing high at 12,391.25 today to confirm a Dow Theory Buy Signal. The other major averages that remain below their February highs are; S&P 500 by 1.4%, NASDAQ by 2.1%, NASDAQ 100 by 2.7% and the SOX by 7.8%. The Russell 2000 is 0.7% above its February high.
Click

Complete Story »

Long Term Silver Chart

Posted: 02 Apr 2011 10:44 PM PDT

25 Year Silver Futures Chart Ready For Huge Wave Three Rally.

Monthly Long Range Chart Signals Larger Move In The Years Just Ahead.

Silver futures for May, 2011, opened March 22, 2011 at $36.12 with a high of $36.48 and low of $35.76. Last price 25 minutes before the close is $36.27. We have commodity charts for the last 50 years, and this latest move is a related and a part of the many decades' long patterns.

Our 2005 long range silver forecast was $156 later revised to $256. However, should gold touch $8,000 as some very smart analysts project, and if silver overshoots a historical ratio number at 15 to 1; say 10 to 1, we could see $800 silver matching $8,000 gold. Sound far-fetched? Do not be so sure.

The way markets are moving in the commodities sector, gold, silver, and oil show the most radical, promising prices. We like gold and silver on system instability and energy on Middle Eastern instability. Grains can easily double and we like to trade them but the aforementioned have prospects of flying off the charts. Trading this volatility in both stocks and commodities on high volatility can be very tricky. You can be right on trend and not get paid due to very erratic and swift trading moves.

We prefer pre-positioning for wins in junior and senior shares, stock call options, futures spreads, and certain related ETF's and ETN's with leverage.


This posting includes an audio/video/photo media file: Download Now

Exploring Stocks and Commodities Over the Past 10 Years Through Charts

Posted: 02 Apr 2011 10:40 PM PDT

Robert Kientz submits:

In the final part of my "charting the economy" series, we examine stocks and commodities. This series is intended to present a recent history of the economy in an easy-to-understand format using graphs. (See part 1 here, part 2 here, part 3 here , part 4 here, and part 5 here. )

Stocks have been up and down, but overall are at about the same level as they were ten years ago.

Commodities prices have been rising since 2002.

The CCI (Continous Commodity Index) is comprised of:

17.64% Energy
17.64% Grains
11.76% Livestock
29.4% Soft goods (sugar, cotton, cocoa, etc..)
23.52% Metals (gold, silver, copper, etc..)

We can see that commodities prices are rising, which results from monetary inflation. Consumers will pay more for the same goods.

Gold has had a massive run up in the last decade.

Silver is not far behind.

If commodities are rising so quickly, how


Complete Story »

Gold Market Update

Posted: 02 Apr 2011 09:51 PM PDT

Utah Gold Standard, Part I

Posted: 02 Apr 2011 09:38 PM PDT

Jobs Update, Counterfeiting, and Political Prisoners

Posted: 02 Apr 2011 09:16 PM PDT

COMEX Commercials Take a Stand at Gold Highs

Posted: 02 Apr 2011 06:00 PM PDT

HOUSTON – Remember that last week gold attempted a breakout to new highs but was turned back? Evidence in the Commodity Futures Trading Commission (CFTC) commitments of traders (COT) report suggests that the largest commercial sellers of gold futures took a stand in opposition as gold made new highs. Going into this past Tuesday, the cutoff day for COT reporting, we thought at first glance that perhaps the Big Sellers of paper gold sensed an opportunity to get some downside traction – something they have found increasingly difficult to achieve in recent months because of intense dip buying in the physical gold market. Now, however, it is apparent that the Big Sellers took their stand as gold attempted a breakout last week. ...

cousin wants to turn some silver jewelry in to bullion

Posted: 02 Apr 2011 10:50 AM PDT

Is there anywhere you can send it to get it smelted or traded for not a complete rip off?

New 28 Year Lows for the Gold Silver Ratio

Posted: 02 Apr 2011 06:17 AM PDT

HOUSTON -- With gold still unable to punch through its $1,440s resistance, but with silver simmering just pennies under its $38 lid, the gold/silver ratio (GSR) has fallen to a fresh new bull market low. Sporting a now 37-handle, meaning that it takes about 37 and change ounces of silver to "buy" an ounce of gold metal, the GSR just put in its lowest weekly close in 28 years as shown in the chart just below. ...

Silver coiling like a cobra (I'm not even sure if corba coils)

Posted: 02 Apr 2011 05:07 AM PDT

JPDimon Owned Comex News Sponsored by: a massive fraud. Gold: -not much action in the vaults -11,783 contracts added SHORT form the COT report Silver: -OI strong at 137,580 -Volume over 65K = got spanked from unbacked paper, 85,384! -customers removed 118,741 oz's -JPBlythe shorts another 1174 contracts! KEEP IT COMING FUCKFACE! Both intents to deliver in both Gold and SIlver are dire on
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