Gold World News Flash |
- Gold Market Update
- Asian Metals Market Update
- Japan in 2013
- A SuBPRiMe CHRiSTMaS CaRoL (2012)
- HFT and Gold and Silver Price Management Getting Easier Every Day
- Silver Market Update
- Disarmament plan: First label everyone with a mental disorder, then use that to take their guns
- Equity Futures At Friday's Lows
- ‘Sandy Effect' Boosts Economic Data
- Who’s Been Naughty Or Nice & What To Expect In 2013
- Hamilton - QE3 Silver Impact
- Gold Market Rehypothecation Fraud: Banks Pledge Same Gold to Numerous People
- NRA is Right on School Defense and Sick Media
- Iraq boosts gold reserves by 25 tonnes
- Marc Faber : Gold and Silver will move in the same direction
- Central banks manipulate metals but bonds will fall anyway, Celente tells King
- In 2013, EURUSD Can Target 1.36/1.44
- Gold Probably Has One More Curve Ball to Throw Us Before Surging to New High
- Buy Yourself or a Loved One a Lasting Christmas Gift: Gold Bullion ? Here are 12 Reasons Why
- Buy Yourself or a Loved One a Lasting Christmas Gift: Gold Bullion – Here are 12 Reasons Why
- Gold Watch: Several Factors Suggest That 2013 Will Be a Very Good Year
- You, Too, Can Achieve a 100% Return on Your Investments – Here's How
- James Turk's Outlook for Gold (2013 to 2015)
- What's Going On With Gold & Silver?
| Posted: 24 Dec 2012 08:00 AM PST After gold's losses of the past couple of weeks there is increasing talk about its bullmarket being finally over. In this update we will use long-term charts to determine whether these claims have any substance. | ||||
| Posted: 24 Dec 2012 12:05 AM PST The key themes for gold and silver were (A) Quantitative easing by the Federal Reserve and other central banks (B) European sovereign debt default (C) Central banks all over the world increasing their gold reserves (D) Weakness in emerging market currencies apart from the US presidential elections. | ||||
| Posted: 23 Dec 2012 11:00 PM PST from Gold Money:
Before the speculative bubble of the late-1980s the Japanese economy was driven by savings. Her strong savings flow gave Japanese industry access to a stable low-cost source of real capital with which it was able to produce high-quality goods for export at competitive prices. While there was, in the free market sense, much wrong with Japan this characteristic more than compensated for her economic sins. However, the bubble came along, fuelled by the institutional greed of the Zaibatsu which through their banks sanctioned a spectacular expansion of credit, and as bubbles go this one went pop spectacularly. Since then the government has done everything it can to stop banks folding and industrial malinvestments from being liquidated. The result is an economy which has barely progressed since. Japanese investment in manufacturing has been directed elsewhere, particularly other South-east Asian states and China. So the result of deficit spending has been a mountain of public sector debt with no domestic economic progress to show for it. Now that government debt-to-GDP is at 240%, or over one quadrillion yen, Japan is resorting to accelerated money-printing as the only and final solution. | ||||
| A SuBPRiMe CHRiSTMaS CaRoL (2012) Posted: 23 Dec 2012 10:07 PM PST
A SuBPRiMe CHRiSTMaS CaRoL (PaRT I)
E-Bernank Scrooge lived all alone in an old house. The yard was very dark and scary that night and when Scrooge wanted to unlock the door, he had the feeling that he saw John Maynard Keyne's face there. This was rather spooky, but Scrooge was not frightened easily. "Bah Munger," he said, opened the door and walked in. He locked himself in, however, which he usually didn't do. But then he felt safe again and sat down before the fire.
Suddenly, Scrooge heard a noise, deep down below, as if somebody was dragging a heavy chain. The noise came nearer and nearer, and then Scrooge saw a ghost coming right through the heavy door. It was Keynes' ghost, and his chains were long; they were made of cash-boxes, HP ink jet cartidges and heavy purses.
"Who are you?" said Scrooge "In theory I am your PhD ghost partner, John Maynard Keynes." "But why do you come to me now?" "I must wander through the world and I wear these chains because I was a naive old PhD fool in life. I only cared about fanciful money printing theories but not about the people around me. Now, I am here to warn you. You still have a chance, E-Bernank. Three spirits will come to you. Expect the first tomorrow, when the NYSE trading bell tolls open." When he had said these words, Keyne's ghost disappeared; and the night became quiet again. E-Bernank Scrooge went straight to bed, without undressing, and fell asleep immediately. PART II When E Bernank Scrooge awoke, it was still very foggy and extremely cold, and there was no noise of people on Wall Street. Keynes' ghost bothered him. He didn't know whether it was a dream or not. Then he remembered that a spirit should visit him at the opening NYSE bell. So instead of having a Brazilian butt, head and back wax at the Federal Reserve barbershop, E-Bernank Scrooge decided to lie awake and wait to see what happens. Suddenly, the NYSE opening bell struck. Light flashed up on his trading screen and a small ink stained hand drew back the curtains of his bed. Then E-Bernank found himself face to face with the visitor. It was a strange figure – like a child: yet not so like a child as like an old decrepit Randian fool. "Who, and what are you?" E-Bernank Scrooge asked the ghost. "I am Maestro the Ghost of Busted Bubbles Past. Rise and come with me." The ghost took Scrooge back in time, to a place where E Bernank Scrooge studied as a young PhD candidate. There Scrooge could see his younger self playing foolish market equilibrium games with other delusional central banker wannabes and future bonehead Nobel Laureates. They were cheerfully running around a cheap imported Christmas tree made in China; and although they were hopelessly naive in their theoretical assumptions, they had lots of geek fun. The spirit also took E-Bernank Scrooge to a money printing factory where Scrooge was an apprentice. Scrooge saw the merry Christmas Eve they spent on the printing presses with his boss Mr Fuzzidice and his family. There was food and music and dancing and everybody was happy. Then the spirit took Scrooge to yet another place. Scrooge was older now. He was not alone, but sat by the side of a beautiful young girl. There were tears in her eyes. "It is sad to see," she said, softly. "that yet another moron has displaced me – the love of fools gold. Your heart was full of real gold once, but now …? I think it is full of QE crap. Fiat fraud begets fraud...swindle begets swindle...error begets error and the whole cycle soon becomes woebegotten. May you be happy in the lunatic path of monetary expansion you have chosen." "Spirit," said Scrooge, "show me no more. Take me home. Why do you torture me?" "One shadow more," said the ghost. They were in another scene and place; a room, not very large or handsome, but full of comfort. There was a happy group celebrating Christmas with all their warmth and heartiness. Scrooge recognized his former girlfriend. She was married now and had children. Sweetheart said her husband with a smile, "I saw an old friend of yours this afternoon. E-Bernank Scrooge it was. I passed his office window; and as it was not shut up, and he had a candle inside, I could see him there. His money printing plan to revive the economy is faltering miserably and there he sat alone. Quite alone in the world, I do believe." "Spirit," said Scrooge in a broken voice, "Take me back! I cannot bear it any longer." He struggled with the ghost to take him back. And finally Scrooge found himself in his own bed again. He was very exhausted and sank into a heavy sleep.
PART III E-Bernank Scrooge woke up in the middle of a snore, just before the CNBC midday report. He sat up in his bed and waited for the second ghost to come.
. And there it was – the Ghost of Never Ending Banksta Presents. It had a curly brown toupee, sparkling eyes and it wore a simple greenback robe with white fur. Its feet were bare as the theoretical justifications for it's nauseating bloviations. It wore a holy bailout wreath and thick glasses. "Didn't I just see you" inquired Scrooge. "Shut up and don't be a wiseass if you know what's good for you" replied the ghost. .
The ghost took Scrooge to his former partner Hank Paulson's house – a not too shabby poor little 12 bedroom Park Avenue penthouse. In the kitchen you could see Mrs Paulson screaming at the maids preparing Christmas bailout dinner. Her spawn were cheerfully running around playing hide and go swindle. Then the door opened and Hank came in with Tiny Timmah upon his shoulders. Tiny Timmah was Hank's dumbest protege. The only government salaried employee in the family. He bore a little crutch and wore a noose around his neck. "On our way home, Tiny Timmah told me that he hoped the people saw him in the Harvard-Soviet Club, because he was a very very very important government central planning employee. It might be pleasant to them to remember on Christmas Day, who made Bankstas rich and stroked that blind choom chugging fool Obama to sleep." Hank's voice trembled when he said this.
Then the Christmas bailout dinner was ready, and everyone sat down at the table. As the Paulson's were very very very very...very poor by Forbes billionaire standards, it was not much they had for Christmas bailout dinner. But still everyone was joyful and you could feel that they all had the TARP Bailout Spirit in their hearts. "A Merry Christmas to all Bankstas my dears! God bless them. Let the rest suck it up and cope!" said Hank. "God bless Bankstas, each and every one of em!" said Tiny Timmah.
.
He sat very close to his mentor's side upon his little stool. Hank held his little hand, as if he feared to lose him. "Spirit," said Scrooge, who felt sorry for the feckless moron, "tell me if Tiny Timmah will keep his job." "I see an empty Treasury Secretary seat," replied the ghost, "and a noose with Timmah's name embroidered on it. If these shadows don't change in the future, the happy moron will get lynched and hung with his chestnuts roasted over a Main Street open fire." This made Scrooge very sad for a nano-moment, but the spirit went on and took Scrooge to his best friend Lloyd Blankfein's penthouse at 15 Central Park West.
.
Lloyd and his slimy friends had a very cheerful party and played squidilious games like suck a buck, subpenny the client and schtup the Kraut banker. E-Bernank Scrooge really enjoyed their celaphopodic party and wanted to stay for another while but in a second it all faded and Scrooge and the spirit were again on their travels. They visited many homes in fraudclosure: they saw rich Wall Street financiers and Bankstas who were glad to have QE Infinity and wanted more in the form of QE IV; PIIGS in foreign lands who were close to bankrupt but saved by the ECB bailout clock, poor common people whose bank accounts shrunk smaller every day – all because of the spirit of QE+N..., can-kick-onomics and moron hazard. Suddenly, E-Bernank Scrooge noticed something strange about the ghost. Two children-like figures were at the ghost's feet – a boy and a girl. But, they looked old and dreadful, like little monsters. Scrooge was shocked. "Spirit, are they your creatures?" Scrooge asked. "They are Wall Street's creatures," said the spirit "The boy is Want, The girl is Want More. Cherish them both, but most of all cherish this girl" said the spirit.
"Have they no place they can go?" asked Scrooge.
"There are no prisons for Bankstas just like there are no Chinese iPad workhouses for the unemployed?" the spirit turned on Scrooge with his own words.
The NYSE bell struck the close. The Ghost of Neverending Banksta Presents disappeared. And at the last stroke of the bell, Scrooge saw the third ghost coming towards him.
PART IV
"Slowly and silently the ghost came nearer. It was very tall and wore a deep black piece of clothing, which covered its whole body and left nothing of it visible but one outstretched hand holding a stinking counterfeit Cohiba cigar stub.
Are you the Ghost of Crashes Yet to Come?" asked E-Bernank Scrooge, "I fear you more than any other spirit." The ghost did not say a word, and Scrooge was really scared. They wandered through lower Manhattan past OWS stragglers at Zuccotti Park and Scrooge heard some men in Guy Fawkes masks talking about a Central Banksta who had jumped. E-Bernank knew the men and wanted to find out, whom they were talking about. But the spirit moved on.
They next stopped in a swanky uptown area where many pinstriped thieves and liars lived. They had stolen things with them and made fun of the person who once owned those things. "Ha, ha!" laughed a woman, "He threw everyones money out of the chopper when he was alive, to profit us even more when he was gone! Ha, ha, ha!" After that, the ghost led Scrooge through streets that were familiar to him; and as they went along, E-Bernank Scrooge looked here and there to find himself, but nowhere was he to be seen.
They entered poor poor poor Hank Paulson's penthouse and found the mother and the Paulson spawn browsing Zero Hedge. Quiet. Very quiet. The noisy Paulsons were as still as statues. When Hank came in, the children hurried to greet him. Then two young Paulsens got upon his knees and laid their little cheeks against his face as if to say, "Don't mind it, father. Don't be sad."
"You went to Maiden Lane today?" said his wife. "Yes, my dear," returned Hank. "I wish you could have gone. It would have you good to see how well guarded the place is. But you'll see it annually. I promised him that we would walk there every April Fools Day in his honor.
My little, little Timmah." cried Hank. "My little captive moron." He broke down in tears. He couldn't help it. If he could have helped it, he and his Banksta loving protege would have been farther apart perhaps than they were. The ghost moved on and took E-Bernank Scrooge to Trinity Church graveyard. The spirit stood among the graves and pointed down to one. E-Bernank Scrooge slowly went towards it and following the ghost's finger read upon the stone "The Great Asset bubbles of QE". "Spirit!" E-Bernank cried, "hear me. I am not the money printing PhD fool I was! I will not be the Central Banksta I must have been so far! Why show me this if I am past all hope? Good Spirit, I will honour austerity in my heart, and try to keep it all the year.
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| HFT and Gold and Silver Price Management Getting Easier Every Day Posted: 23 Dec 2012 09:40 PM PST by Dr. Jeffrey Lewis, The Market Oracle:
Furthermore, the unusually large sell orders seen in the silver market seemingly on a daily basis, so not seem to be executed so as to maximize the selling price obtained for a commodity. Instead, such orders appear directly aimed at influencing silver market price action and forcing it to the downside. Technical Trading Makes Markets Easier to Manipulate: Interestingly, today's markets seem even easier to manipulate than at any other time in market history. This is probably due to the fact that so few of the large traders use fundamental based or discretionary trading plans, instead typically preferring to use technical analysis based systems. | ||||
| Posted: 23 Dec 2012 06:04 PM PST Many silver longs were upset by the rather sharp drop over the past week or so, but as we will now see, this drop looks like a 'storm in a teacup' on longer-term charts. Read More...  | ||||
| Disarmament plan: First label everyone with a mental disorder, then use that to take their guns Posted: 23 Dec 2012 06:00 PM PST by Jon Rappoport, Natural News:
Take that seriously. At a presidential debate, Obama was asked about achieving gun control. He said, "Enforce the laws we've already got. Make sure we are keeping the guns out of the hands of criminals…[and] those who are mentally ill." In case you've been sleeping in a cave for the past few years, the US government is doing everything it can to create more categories of crimes, and the psychiatrists are expanding the list of (fictional but enforceable) mental disorders, as they also relentlessly promote "more diagnosis and treatment." | ||||
| Equity Futures At Friday's Lows Posted: 23 Dec 2012 05:59 PM PST It seems a few humans have read a little this weekend and sold into the algo-induced euphoria from Friday's close. S&P 500 futures are down around 9 points - at the lows from Friday's day-session. EUR is bleeding modestly and JPY is weakening as equities appear to be recoupling with FX as a risk-driver (following EUR's dislocation two weeks ago). Cash Treasuries are yet to open but futures infer 2-3bps compression in yields. Much was made of VIX's 'strength' on Friday as some kind of tell; unfortunately misunderstanding is rife and it is evident that hedges were in fact rolled out into January (rather than lifted in any bullish manner). So far stocks are pushing back down to recouple with VIX's view of the world. Silver is flat at $30, Gold and Oil down a little. 6 more hours til Europe opens. S&P 500 futures (ES) have dropped back to the lows of the Friday day-session... Equities and FX markets appear to have recoupled for now (blue oval) after EURUSD's decoupling two weeks ago and AUDJPY's decoupling last week...
and close-up shows the idiocy of the last hour on Friday - now recoupled with reality...
And it is clear when looking at the price action that spot option protection was rolled out to January (and still remains notably priced away from equity's pollyanna world for now)...
Gold has caught down to Silver...
Charts: Bloomberg | ||||
| ‘Sandy Effect' Boosts Economic Data Posted: 23 Dec 2012 05:20 PM PST by Lance Roberts, Zero Hedge:
"While the recent impact of Hurricane Sandy is yet to be assessed – the storm could boost economic output in the very short term by roughly 0.5%. This could push a recession in the U.S. out to the 2nd or 3rd quarter of 2013." The surges in the most recent releases of Personal Income and Spending, Durable Goods Orders and the Chicago Fed National Activity Report all showed very strong rebounds in the data. The question that needs to be addressed, however, is whether these surges are sustainable in the months ahead? | ||||
| Who’s Been Naughty Or Nice & What To Expect In 2013 Posted: 23 Dec 2012 03:15 PM PST  With Europe stumbling into the end of the year, the new Prime Minister, Abe, in Japan calling for more money printing, and the US heading towards the fiscal cliff, Michael Pento writes exclusively for King World News and strongly believes investors should be acquiring gold and gold equities because of the extraordinarily-dangerous macroeconomic environment facing the world today. Here is Pento's piece: "It should now be clear to all Americans that our government is completely incapable of voluntarily reducing our fundamental problem of excess debt. The inability of Washington D.C. to address spending, even under the duress of a legal obligation to do so, is flagrantly obvious." This posting includes an audio/video/photo media file: Download Now | ||||
| Posted: 23 Dec 2012 11:18 AM PST Adam Hamilton of Zeal, LLC writes: Silver has been selling off relentlessly since the Federal Reserve expanded its third quantitative-easing campaign last week. As that decision was highly inflationary, silver's subsequent weakness has really vexed traders. But its counter-intuitive selloff had nothing to do with fundamentals. As the Fed's past QE campaigns demonstrated abundantly, QE3 will eventually prove to be very bullish for silver's fortunes. More... Quantitative easing is a pleasant-sounding euphemism for debt monetization. Historically this dangerous practice has been scorned because it ultimately unleashes serious inflation. Monetizing debt is exactly what it sounds like. A central bank chooses to buy bonds, and then conjures up the money to do so out of thin air. This new money is injected into the economy as the bond sellers spend it, igniting inflation.
The rapidly-expanding money supply grows much faster than the underlying economy. So relatively more money chases after relatively less goods and services, which bids up their prices. As more money is poured into the system, each unit has less purchasing power. Inflation is ultimately an oversupply of money, which quantitative easing greatly accelerates. Investors flock to precious metals in such times.
The supply-and-demand dynamics of gold and silver protect and multiply capital when central banks are inflating their money supplies. Since fiat money can be wished into existence instantly in unlimited quantities, its growth vastly outpaces the naturally-constrained growth in global precious-metals supplies from mining. A lot more currency competing for relatively less silver inevitably drives up its price.
So make no mistake, the Fed's decision to more than double QE3 last week is wildly bullish for silver going forward. The Fed just announced an unprecedented tidal wave of money-supply growth from debt monetization that is going to start hitting our economy's shores in January. The recent silver selling is the result of unrelated bearish psychology, and such extreme sentiment anomalies never last for long.
Why is QE3 so bullish for the white metal? Because its probable scope dwarfs that of QE1 and QE2, and both of those earlier inflationary campaigns eventually worked wonders for the silver price. This first chart shows silver over the Fed's QE era of the past four years, along with QE's growth. The direct injection of new money into our economy from the Fed's debt monetizations is a great boon for silver.
This chart is updated from a more comprehensive study of the Fed's QE campaigns I wrote a couple months ago. When the Fed creates new money to buy bonds, these purchases grow its balance sheet which is shown in orange. The yellow and red lines, which are stacked like an area chart, show the types of bonds the Fed buys through QE, mortgage-backed securities and Treasuries respectively.
And it is the red Treasury buying we want to focus on today. Of all the debt a central bank can choose to monetize, its government's bonds lead to the most direct inflation. Central banks only print money to buy their government's debt when it is living far beyond its means. Thus all the money created to buy these bonds is spent nearly as rapidly as the issuing government receives it. It flows directly into the economy.
So it shouldn't be surprising that the Fed's unprecedented quantitative easing over the past four years corresponds exactly with Obama's extreme record deficits. As unchecked federal-government spending soared to a quarter of the total US economy, the Fed monetized increasing amounts of the resulting deluge of new Treasuries. And as the government immediately spent all this newly-created money, silver surged.
All three of the Fed's QE campaigns were introduced in two stages, to blunt their psychological impact on inflation expectations. QE1 was born in November 2008 and expanded in March 2009. Through it the Fed created an epic $1750b out of thin air to buy bonds, but only $300b was allocated for Treasuries. They were gradually monetized over roughly 15 months, working out to buying of about $20b per month.
And how did silver do over this entire QE1 span? Awesome, it rocketed about 80% higher! Of course this gain wasn't just from QE1 and its relatively-small Treasury monetizations. As a hyper-speculative metal extremely sensitive to sentiment, silver was ripped to shreds in the epic fear of the stock panic. So as QE1 was launched, silver started from a very depressed base. Still, the QE1 inflation was very bullish.
Today traders are freaking out because silver hasn't been skyrocketing since QE3 was born a few months ago. But look at its behavior during QE1. Though silver rose mightily on balance, it still experienced periodic sharp selloffs like in the second quarter of 2009 and first of 2010. Other times it just ground sideways and consolidated. Silver is and always has been volatile, traders have to accept that.
Though the inflation unleashed by quantitative easing is a strong tailwind, many other factors affect short-term silver psychology from time to time. Greed can erupt to catapult silver higher far faster than QE alone warrants, and fear can crush silver much lower than fundamentals merit. But normal sentiment-driven selloffs within a timeframe where the Fed is monetizing certainly don't make inflation less bullish.
Since QE1 miraculously failed to significantly raise mainstream traders' inflation expectations, the Fed was greatly emboldened for QE2. It was exclusively Treasury purchases, the purest form of inflation from debt monetization. And it weighed in at a whopping $900b over about 10 months, although the first third of this was from rolling over already-monetized mortgage-backed securities into Treasuries.
So we are talking about a $90b-per-month rate of Treasury monetizations. And as you can see above, during this QE2 span silver skyrocketed. It ultimately blasted a staggering 177% higher in 9 months, its biggest upleg of its secular bull by far! QE, especially the direct inflation that comes from monetizing Treasuries, is very bullish for silver. But like QE1, QE2 didn't mean silver never experienced weakness. ... Continued at the link below. Source: Zeal http://www.zealllc.com/2012/qe3silv.htm
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| Gold Market Rehypothecation Fraud: Banks Pledge Same Gold to Numerous People Posted: 23 Dec 2012 10:23 AM PST Banks Pledge Same Collateral Numerous Times Big banks pledged the same mortgage to numerous people. | ||||
| NRA is Right on School Defense and Sick Media Posted: 23 Dec 2012 10:21 AM PST CNBC coverage of the National Rifle Association press conference one week after the Newtown, CT Lunatic went where he knew that no one could stop him from inflicting maximum mayhem without opposition – a defenseless school. Adam Lanza broke no fewer than 50 laws and the do-gooders in Washington are, of course, calling for even more laws. Laws do not protect people from lunatics. They never have and they never will.
A few quotes from the conference are below.
"Here is another dirty little truth that the media try their best to conceal. There exists in this country, sadly, a calloused, corrupt, and corrupting shadow industry that sells and sows violence against its own people. Through vicious, violent video games with names like Bullet Storm, Grand Theft Auto, Mortal Combat, and Splatter House and here's one; it's called Kindergarten Killers. It's been online for ten years. How come my research staff can find it and all of yours couldn't or didn't want anyone to know you had found it?" "If we truly cherish our kids, more than our money, more than our celebrities, more than our sports stadiums, we must give them the greatest level of protection possible, and that security is only available with properly trained, armed, good guys. Under Asa's (former Congressman Asa Hutchinson's) leadership, our team of security experts will make this program available for the world in protecting our children at school and will make that program available to every single school in America free of charge. That is a plan of action that can and will make a real, positive, indispensable difference in the safety of our children and it will start right now. There is going to be a lot of time for talk and debate later. This is a time, this is a day for decisive action. We can't wait for the next unspeakable crime to happen before we act. We can't lose precious time debating legislation that won't work. We must not allow politics or personal prejudice to divide us. We must act now for the sake of every child in America. I call on every parent. I call on every teacher. I call on every school administrator, every law enforcement officer in this country to join with us and help create a national school shield safety program to protect our children with the only positive line of defense that's tested and proven to work." – Wayne Lapier, Executive Vice President, NRA. (The video is truncated close the actual end of the press conference.) With an entire generation of people now desensitized to violence by film, video games and television, how long will it be before Congress takes a closer look at that cesspool? Source: CNBC http://video.cnbc.com/gallery/?video=3000136945 | ||||
| Iraq boosts gold reserves by 25 tonnes Posted: 23 Dec 2012 09:30 AM PST By Javier Blas http://www.ft.com/intl/cms/s/0/87ab2a18-4b7e-11e2-887b-00144feab49a.html Iraq has joined the growing list of countries buying gold for their official reserves, purchasing more than 25 tonnes of the precious metal in the market to beef up the gold reserves of its central bank for the first time in years. The purchases by Baghdad come as Iran is using gold as a currency to settle import-export transactions with neighbouring countries, including Turkey. But Iraq has so far not disclosed any gold transaction with Tehran. Analysts said it was unclear whether the purchases showed dealings with Iran or were simply a sign that the Iraqi central bank is diversifying its foreign exchange reserves, as others in emerging countries have done recently. ... Dispatch continues below ... ADVERTISEMENT GoldMoney adds Singapore vaulting option In addition to its precious metals storage facilities in Hong Kong, Switzerland, Toronto, and the United Kingdom, now with GoldMoney you can store gold and silver in Singapore in a high-security vault operated by Brink's Singapore Pte Limited. To celebrate the launch of this storage option, GoldMoney is offering a discount on buy and exchange fees at this vault for any orders above US$10,000 (or the equivalent) until January 11, 2013. Tthe gold buy rate is 0.98%, while the silver rate is 1.99%. Metal exchanges into Brink's Singapore will also be discounted for this period and will be charged at 0.78% for gold and 1.75% for silver. Simply place your order online and the above rates apply automatically until January 11, 2013, 15.00 UK time. To find out more about the new vault, please visit: http://www.goldmoney.com/singapore?gmrefcode=gata GoldMoney customers can take delivery of any number of gold, silver, platinum, and palladium bars from any GoldMoney vault, as well as personally collect their bars stored in the Hong Kong, Switzerland, and U.K. vaults. It's easy to open an account, add funds, and liquidate your investment. For more information, visit: http://www.goldmoney.com/?gmrefcode=gata Iraq joins countries from Russia to Brazil in buying gold to diversify its official reserves this year. According to data released late on Thursday by the International Monetary Fund, Iraq bought gold during August-September, lifting its official precious metals reserves from 5.8 tonnes to 31.07 tonnes. The so-called official sector -- a group that includes central banks, sovereign wealth funds, and other quasi-government entities -- has been a significant buyer of gold since 2010, having been a strong seller in the previous 15 years. The Iraqi additions are among the biggest officially reported so far this year, behind only Russia, Turkey, and Kazakhstan. Some countries have bought gold secretly in the past, including China, disclosing their purchases years later. The purchases have lifted Iraq in the global ranking of gold holders from 78th to 54th position, according to data from the World Gold Council, the lobby group of the gold industry. Iraq is the first buyer of gold in the Middle East region that has acknowledged its purchases, although the market suspects Saudi Arabia and several regional sovereign wealth funds have also bought gold in the past. "Having a new buyer in the central bank space, and especially from a new region, is an important development," said Joni Teves at UBS in London. Gold has been trading in a relatively narrow band of between $1,500 and $1,800 per troy ounce for the past year. Over the past week, spot gold prices in London fell 2.5 per cent to $1,651 per ounce. On Thursday, gold prices briefly hit their lowest since August, trading at $1,635 per ounce on the spot market. Weak physical demand, particularly from India and China, has weighed on the gold market for most of the year, analysts said. The weakness from the jewellery sector is so far offsetting bullish financial factors, including ultra-low interests rates in major economies and the worries about the so-called fiscal cliff of automatic tax increases and spending cuts in the US. Join GATA here: Vancouver Resource Investment Conference * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: | ||||
| Marc Faber : Gold and Silver will move in the same direction Posted: 23 Dec 2012 09:26 AM PST Marc Faber : Gold and silver will move in the same direction, up together or down together. At... [[ This is a content summary only. Visit http://goldbasics.blogspot.com for full Content ]]  | ||||
| Central banks manipulate metals but bonds will fall anyway, Celente tells King Posted: 23 Dec 2012 09:22 AM PST 11:20a ET Sunday, December 23, 2012 Dear Friend of GATA and Gold: Central banks are manipulating gold and silver prices but bonds are going to collapse anyway, Trends Journal editor Gerald Celente tells King World News in an interview excerpted at the King World News blog here: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/12/23_C... CHRIS POWELL, Secretary/Treasurer ADVERTISEMENT Fred Goldstein and Tim Murphy open All Pro Gold All-Pro Gold, run by long-time GATA supporters Fred Goldstein and Tim Murphy, offers its services to GATA supporters and anyone else interested in precious metals. The company brokers a full line of precious metals and numismatic coins. It aims to inform prospective clients about the importance of the monetary metals as part of a diversified financial portfolio and to keep prospective clients current with market trends. All-Pro Gold has competitive pricing and ships promptly to clients so they may have physical possession. Learn more by e-mailing Fred@allprogold.com or Tim@allprogold.com or telephone 1-855-377-4653 or visit www.allprogold.com. Join GATA here: Vancouver Resource Investment Conference * * * Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006: http://www.goldrush21.com/order.html Or by purchasing a colorful GATA T-shirt: Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009: http://gata.org/node/wallstreetjournal Help keep GATA going GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at: To contribute to GATA, please visit: ADVERTISEMENT Opinion Around the World Is Changing When Deutschebank calls gold "good money" and paper "bad money". ... http://www.gata.org/node/11765 When the president of the German central bank, the Bundesbank, pays tribute to gold as "a timeless classic". ... http://www.forbes.com/sites/ralphbenko/2012/09/24/signs-of-the-gold-stan... When a leading member of the policy committee of the People's Bank of China calls the gold standard "an excellent monetary system". ... http://www.forbes.com/sites/ralphbenko/2012/10/01/signs-of-the-gold-stan... When a CNN reporter writes in The China Post that the "gold commission" plank in the 2012 Republican platform will "reverberate around the world". ... http://www.thegoldstandardnow.org/key-blogs/1563-china-post-the-gop-gold... When the Subcommittee on Domestic Monetary Policy of the U.S. House of Representatives twice called on economist, historian, and gold standard advocate Lewis E. Lehrman to testify. ... World opinion is changing in favor of gold. How can you learn why and what it will mean to you? Read the newly updated and expanded edition of Lehrman's book, "The True Gold Standard." Financial journalist James Grant says of "The True Gold Standard": "If you have ever wondered how the world can get from here to there -- from the chaos of depreciating paper to a convertible currency worthy of our children and our grandchildren -- wonder no more. The answer, brilliantly expounded, is between these covers. America has long needed a modern Alexander Hamilton. In Lewis E. Lehrman she has finally found him." To buy a copy of "The True Gold Standard," please visit: http://www.thegoldstandardnow.com/publications/the-true-gold-standard | ||||
| In 2013, EURUSD Can Target 1.36/1.44 Posted: 23 Dec 2012 08:33 AM PST The pro-growth monetary policy should mildly support economies throughout the world in 2013, despite the persistence of different risk factors. The US dollar may decline further. What will happen to stocks and bonds? Read More...  | ||||
| Gold Probably Has One More Curve Ball to Throw Us Before Surging to New High Posted: 23 Dec 2012 05:29 AM PST “Follow the*munKNEE.com” via twitter & Facebook Gold probably has one more curveball to throw us before*the final yearly cycle* bottom is in which should see it*set one more marginal new low to say around* $1630 in the next couple of weeks after which I think gold will easily test the $1900 level during its next* intermediate cycle. [Let me explain why I have come to that conclusion.] Words: 350; Charts: 1 So writes Toby Connor ([url]www.goldscents.com[/url]) in edited excerpts from his original article* entitled STOCK MARKET BREATHER & GOLD YEARLY CYCLE LOW. [INDENT]This article is presented compliments of [COLOR=#0000ff][COLOR=#ff0000]www.FinancialArticleSummariesToday.com[/COLOR] (A site for sore eyes and inquisitive minds) and [COLOR=#ff0000]www.munKNEE.com [/COLOR](Your Key to Making Money!) and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. T... | ||||
| Buy Yourself or a Loved One a Lasting Christmas Gift: Gold Bullion ? Here are 12 Reasons Why Posted: 23 Dec 2012 05:29 AM PST [B][B][B][B]“[B]Follow the munKNEE.com” via twitter & Facebook[/B][/B][/B][/B][/B] We can all speculate about when the next leg up for gold will kick in, but the point for now is to take advantage of the weakness, like many of [the individuals, central banks and financial institutions are doing/suggesting. When the price breaks out of its trading range, are you sure you won't wish you'd bought a little more? Here's a sampling of this year's "gold bugs" and what they've been doing about precious metals recently. Words: 1449 So says Jeff Clark ([url]www.caseyresearch.com[/url]) in edited excerpts from his original article* entitled 12 Gold Bugs Bring Christmas Cheer. [INDENT]This article is presented compliments of [COLOR=#ff0000][COLOR=#ff0000]www.FinancialArticleSummariesToday.com [/COLOR](A site for sore eyes and inquisitive minds) and [COLOR=#ff0000]www.munKNEE.com [/COLOR](Your Key to Making Money!) and may have been edited ([ ]), abridged (…) and/or reformatted (som... | ||||
| Buy Yourself or a Loved One a Lasting Christmas Gift: Gold Bullion – Here are 12 Reasons Why Posted: 23 Dec 2012 04:55 AM PST "Follow the munKNEE.com" via twitter & Facebook We can all speculate about when the next leg up for gold will kick in, but the So says Jeff Clark (www.caseyresearch.com) in edited excerpts from his original article* entitled 12 Gold Bugs Bring Christmas Cheer.
Clark goes on to say, in part: It's a tad puzzling that gold hasn't broken into new highs, despite enough catalysts to move a herd of stubborn mules but that's the hand we're dealt right now. We can't get up from the table until the game reaches its conclusion. Besides, I think the stall in prices is giving us one last window to buy before prices break permanently into higher levels for this cycle. At least that's how a number of prominent investors and institutions are viewing the price action right now. While the price of gold has languished in a trading range much of the year, leaving some investors scratching their heads, many have been buying – and in some cases, really loading up. Here's a sampling of this year's "gold bugs" and what they've been doing about precious metals recently. 1. Jim Rogers, billionaire and cofounder of the Soros Quantum Fund, publicly stated last month that he plans to "sell federal debt and purchase more gold and silver." 2. George Soros increased his investment in GLD by a whopping 49% last quarter to 1.32 million shares. His stake is now worth over $221 million. Many investors don't realize that he also placed call options on GDX worth $9 million. The most logical explanation is that he thinks gold equities are undervalued and that there's big money to be made in them within a year. 3. Marc Faber mocks those claiming gold is in a bubble. "It's nowhere close to that stage," he says and even though he's already sitting on a huge gain, he won't take any profits. Why? "I keep a picture of Mr. Bernanke in my toilet, and every time I think about selling my gold, I look at it and I know better!" 4. Brent Johnson, a San Francisco hedge-fund manager, believed in gold so much that he started his own gold fund, Santiago Capital, earlier this year. His latest video points out that there have been "278 global easing moves in the last 14 months." How does someone not own gold in that kind of environment? 5. Don Coxe, a highly respected global commodities strategist, stated at the Denver Gold Forum that "now is the best climate I have ever seen for an increase in gold prices." He told fund managers, mining analysts, and mining executives to prepare for significantly higher gold prices and thus higher gold-mining-stock valuations. "The opportunities ahead are the best I've seen." He thinks a new gold rush is ahead for gold stocks, and that a "lustrous" rally will occur within a year. 6. Jeffrey Gundlach, cofounder of DoubleLine Capital, predicts that deeply indebted countries and companies will default sometime after 2013. Central banks may forestall these defaults by pumping even more money into the economy – but at the risk of higher inflation in coming years. He recommends buying hard assets including gold, and also "gold-mining firms because we consider them to be bargains." 7. Rob McEwen, CEO of McEwen Mining and founder of Goldcorp, is buying precious metals because he believes gold will someday hit $5,000 and silver $200. 8. Savneet Singh, a former investment analyst at Morgan Stanley, was frustrated with the options available to acquire physical gold in an allocated, whole-bar format outside the banking system. He started Gold Bullion International…a service that virtually does away with the need to buy GLD.
The above is only a handful of individual investors who have made recent news with their bullion buying. Institutions, governments, and others are participating, too, as outlined below: 9. Central Banks
These data suggest, in and of themselves, that dips in the gold price are likely being bought – and will continue to be bought – by central banks. They're not exactly short-term traders. Remember, central banks were net sellers as recently as 2009, so this reversal will likely play out for years.
10. Commercial Banks
None of the above parties think the gold bull market is over, nor the price too high. They recognize the implications of a world floating on fiat currencies, and that government "solutions" to debt and deficit spending will significantly – perhaps catastrophically – dilute the value of currencies, the fallout of which has yet to materialize. As for me, I think that the longer the malaise continues, the more likely the breakout is to be both sudden and dramatic. Conclusion I say give you and your loved ones a lasting Christmas gift and call your favorite bullion dealer. Now is a great time to give yourself another gift… one that will make next year's holiday season even brighter.
* http://www.caseyresearch.com/articles/12-gold-bugs-bring-christmas-cheer Related Articles: 1. Owning Gold Bullion Can Help Boost Your Global Net Worth! Here's Why
2. Gold Belongs in EVERY Portfolio – Including Yours! Here's Why
3. James Turk: Why Gold is Preferred to National Currencies
4. Take Note: Gold and Silver are NOT an Investment!  Gold and Silver are not an investment! Let me repeat that. Gold and silver are not an investment! Gold and silver are (excuse the pun) the most "solid" form of money you can possess. Yes, these two precious metals are money!…Don't fear owning gold my friends. Fear not owning gold and silver, especially if you are a saver. [Let me explain.] Words: 795 5. If You Don't Think Gold IS a 'Safe Haven' Then You Don't Know the Meaning of the Term!
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| Gold Watch: Several Factors Suggest That 2013 Will Be a Very Good Year Posted: 23 Dec 2012 04:45 AM PST "Follow the munKNEE.com" via twitter & Facebook One of our favorite charts is the oscillator which shows the probability of gold So writes Frank Holmes (www.usfunds.com) in edited excerpts from his original article* entitled Light at the End of the Tunnel for Gold.
Holmes goes on to say, in part: Reversion to the Mean for Gold Expected Based on the last 10 years of data, gold seems to be approaching an oversold position after this latest correction. In standard deviation terms, the percentage change in year-over-year rolling returns, gold has made a downward move of 1.2 standard deviations. An event like this only happens about 10 percent of the time, with high odds favoring a reversion to the mean. Life is about managing expectations. With gold and gold stocks, there will be short-term anomalies, such as hedge funds' liquidation. Presidential Election Year Cycle Favorable to Gold Another historical difference for gold stocks relates to the presidential election year cycle. As we have mentioned before, gold miners tend to perform poorly in the year of a U.S. presidential election. Regardless of which party is in the White House and which party wants to take it back, going back to 1984, the Philadelphia Stock Exchange Gold and Silver Index (XAU) has declined an average of 18.4% in the year Americans are busy thinking about voting for a leader. It's not the end of the world for gold and gold stocks. Take a look at what happens the year following a U.S. presidential election: Going back to 1985, the XAU historically has increased substantially in post-election federal years, rising 23.4%, on average. Continuing Low Interest Rates to Good for Gold With governments lacking courage for fiscal discipline, I expect that interest rates will remain in negative territory for a long time. Central bankers will continue to keep the printing presses warm as policies aren't expected to change. I believe this will keep the Fear Trade buying gold throughout 2013. Central Banks to Keep Buying Gold In addition, emerging market central banks have been diversifying into gold. Net official sector purchases of 425 tons year-to-date is a drastic difference compared to only a few years ago when central banks were net sellers of the precious metal. Only recently, UBS reported that in November, Russia purchased nearly 3 tons of gold and Brazil bought almost 15 tons. Iraq—a notable new buyer—bought 25 tons from August through October. Given that this is the country's first increase since the early 2000s, "having a new buyer in the central bank space and especially from a new region is an important development," says UBS.
Love Trade Should Improve in 2013 While the Love Trade has been subdued this year, we see light at the end of the tunnel, not a train. One recent development is the increase in mutual fund flows of $32 billion into emerging markets since the announcement of the third round of quantitative easing (QE) in the U.S. This appears to be a powerful precursor for a stronger 2013, which would reignite the Love Trade in China and India.
*http://www.usfunds.com/media/files/pdfs/investor-alert/-2012-ia/2012-12-21/Investor_Alert_12-21-2012.pdf Related Articles: 1. How Will the Price of Gold Evolve Into 2013, 2014 and Beyond? A Perspective
2. Bull Markets Always End With a Bang, Not a Whimper, So Gold's Run Should Have More Legs
4. Gold Projected to Reach $4,000/ozt. Sometime Between Late 2015 & Mid 2017! Here's My Rationale
5. Update: 51 Analysts Now Maintain that Gold is Going to $5,500 – $6,500/ozt. in 2015!
6. Gold Should Be At $4,666 These Days – Here's Why
7. Alf Field: Gold STILL Targeted to Reach $4,500 – Preceded By Violent Upside Action We now have a really strong probability that the correction which started at $1913 on 23 August 2011 has been completed both in terms of Elliott waves and also in terms of time elapsed. If this is correct, the gold price should soon be expressing itself in violent upside action as it moves into the third of third wave which is still targeted to reach $4,500. [Let me explain in detail (with charts) how and why my most recent analyses confirm my earlier target of $4,500.] Words: 1085 8. New Analysis Suggests a Parabolic Rise in Price of Gold to $4,380/ozt.
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| You, Too, Can Achieve a 100% Return on Your Investments – Here's How Posted: 23 Dec 2012 04:00 AM PST "Follow the munKNEE.com" via twitter & Facebook When I first considered a high-yield investing strategy, my goal was to devise a So writes Ian Wyatt (www.wyattresearch.com) in edited excerpts from his original article* entitled How to Construct a Portfolio that Yields 100%.
Wyatt goes on to say, in part: I used to think that a 6%-8% yield was a reasonable range for a diversified income portfolio but I've modified my perception. Why? Because…the more I analyzed dividend-paying stocks (and dividend-growth stocks in particular), the more I realized I was failing to fully account for income potential over time [and that I could actually more than double my money in doing so.] The Longer the Time Frame, the Greater the Compounding Effect A couple of weeks ago, I wrote an article on the wonders of dividend-growth investing focusing on two dividend-growth stocks, McDonald's Corp. (NYSE: MCD) and McCormick & Co. (NYSE: MKC).
The yield has risen because McDonald's has raised its dividend. What's more, I expect McDonald's will continue to raise its dividend. This means the yield will continue to grow on the cost basis. McDonald's incremental yield increase might seem insignificant, but it can be a remarkably powerful wealth-producing tool.
Though not quite to the same degree as McDonald's, an investment in McCormick has a similar wealth-building effect. If you had bought McCormick 15 years ago, you'd own an investment that yields roughly 12%. The longer the time frame, the greater the compounding effect.
Gold's Performance in Comparison to Good Dividend Stocks This week, I am going to compare ExxonMobil (NYSE:XOM) with gold [which] I like gold because it's a store of value…and a good diversifying asset, though it's not a cash-generating asset. In 1971, the year the United States government dropped all pretense of tethering the dollar to a gold standard, the average price of gold was $40 an ounce. The average split-adjusted price of a share of ExxonMobil was about $2.30. Today, gold trades near $1,700 an ounce; a share of ExxonMobil trades near $90. Gold has appreciated at an average annual rate of roughly 9.6% over the past 41 years. ExxonMobil's share price has appreciated at an average annual rate of 9.4% over the same period but ExxonMobil would have been by far the more remunerative investment. ExxonMobil is dividend grower and has paid and increased its dividend for decades. Today, ExxonMobil pays $2.28 per share in annual dividends. This means ExxonMobil is paying the initial purchase price each year in dividends – that's an automatic 100% annual return on investment today – and, keep in mind, I'm not factoring in all the dividends accumulated (and possibly reinvested) over the years. Conclusion I'm convinced dividends will continue to be the driving variable in stock valuation for years to come. What's more, it will be the most reliable variable. When companies consistently increase earnings and dividend payments, share price is sure to follow….
*https://secure.wyattresearch.com/article/how-to-construct-a-100-yield-portfolio/29156 Related Articles: 1. 20 U.S. Companies With the HIGHest Dividend Yields – Take a Look
2. Dividend Stocks Belong in Your Portfolio – Period! Here's Why & How If you don't have dividend stocks in your portfolio, you're making a costly mistake because the best-performing stocks over the long haul are dividend stocks. Period. Countless studies prove it, too. Don't waste your time on Google trying to verify that claim. The evidence is right here! [Let's take a look.] Words: 620 3. Market -Timing Pays BIG Dividends for Income Investors – Here's Why
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| James Turk's Outlook for Gold (2013 to 2015) Posted: 23 Dec 2012 03:54 AM PST - With 2013 just round the corner, James Turk of GoldMoney provides an update to a longstanding forecast he made back in 2003 in Barron's. This interview was widely talked about because whilst the gold price was USD350 at the time, James stated that he envisioned the gold price to be around USD8,000 sometime between [...]  This posting includes an audio/video/photo media file: Download Now | ||||
| What's Going On With Gold & Silver? Posted: 23 Dec 2012 03:00 AM PST "Follow the munKNEE.com" via twitter & Facebook It would seem logical that the precious metals should be moving a lot higher So writes Dave Kranzler (www.truthingold.blogspot.ca/) in edited excerpts from his article* as originally posted on Seeking Alpha under the title What's Going On With Gold And Silver?.
Kranzler goes on to say, in part: Whether or not you want to believe that the Comex metals markets are manipulated, there is no question that there is a high correlation between sharp market moves in gold and silver and moves in the open interest of Comex gold/silver futures. This has been a pattern that has persisted and repeated for at least the 12 years I've been tracking this market. The cycle goes something like this:
What happens to create these sharp sell-offs once the open interest has reached a certain level, is the market starts to experience large offerings of paper, often time in the more illiquid periods of overnight electronic trading during Asian market hours and always right at the Comex floor opens. This sets off the stop-losses set by the large hedge fund computer "black box" models and creates the well-known "waterfall" chart formation that occurs repeatedly over time on the Comex. This has occurred ever day this week on the Comex and this one is today's: March Comex Silver – today
As you can see, the price of silver has held steady throughout the overnight trading (attributable to the strong physical buying going on right in India and Asia) but, right as the gold floor is opening on the Comex, silver falls right off a cliff. If you run these charts over time, you'll see that it's serially repetitive and in conjunction with the liquidation of COT open interest. Call it manipulation or call it what you want, but it's a real-time event. Eventually the large spec funds "sell out" of a large portion of their long positon, the commercials cover their shorts and the cycle repeats.
Although the open interest in silver has only dropped about 10k contracts from its recent peak, the open interest in gold has dropped substantially from its peak of 492,000 in early October to yesterday's 437.6k…. Here's a chart which shows the dynamic of the open interest climbing and declining with the price of gold over 4 years: Comex Gold Open Interest vs. Price of Gold
[The above] chart goes from January 2008 to last Friday's COT report. The red line is the price of gold (right axis) and the black line is the net short interest (left axis) of the commercial segment on the Comex. The white arrows show the recent correlation in movement between the gold open interest on the Comex and the price of gold. You don't need to be a regression expert to see that the correlation is pretty close to 1. The best chart to show just how irrelevant this current price correction is in the grand scheme of the gold/silver bull market is here: 3-yr Comex Gold
The current sharp sell-off in gold/silver is being accompanied by what I call a Comex open interest stop-loss liquidation. This has been a wash/rinse/repeat occurrence for many years during this precious metals bull market. This isn't the first one and it won't be the last but, in my view, we getting near the end of this particular Comex paper raid. I suspect that at some point in the next 3-6 months that gold and silver will be started on their way to new all-time highs.
* http://seekingalpha.com/article/1075931-what-s-going-on-with-gold-and-silver Related Articles: 1. Goldbugs, Here's Why Gold's Long Bull Run Could Be Over
2. Is Gold's 13 Year Run Almost Over?
4. It's Time to Seriously Consider SHORTING Gold – Here's Why
5. 7 Indications That Gold & Silver Bearishness Most Likely Will Continue
8. What, Me Worry? Not When You Look at These Monthly Gold & Silver Charts
10. Short-term Interest Rates Are Behind the Price Of Gold – Here's Proof!
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The Japanese government for the last twenty three years has employed the Keynesian tools of deficit spending and more recently the monetarist policies of expanding money supply in an attempt to stop the economy from sliding into recession and to develop some growth. On paper, it has only achieved the former objective; in reality it has emasculated the productive capability of her domestic economy.
Regulation within a market tends to make it harder for legitimate traders to operate because every 'edge' they identify essentially becomes insider information. Nevertheless, the powerful electronic traders are still allowed legal access to front run pricing and large orders on the exchanges by being permitted to locate their servers onsite.
When everybody is diagnosed with a mental disorder, gun permits will be a thing of the past
The slew of economic releases over the last couple of days have all had two things in common: 1) the data has been markedly improved which has given a silver lining to the economic storm clouds we have witnessed over the last several months; and 2) the fingerprint of Hurricane Sandy has been very visible. This is not a surprise as we stated at the b
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