Interpol Issues International Arrest Warrant For Julian Assange For "Sex Crimes"

Per BreakingNews.com, Interpol has just issued an international arrest warrant for Julian Assange. The offense listed: SEX CRIMES. And somehow Interpol does not have access to the Internet and is unable to pull an image of the wanted criminal. Unclear if Ben Bernanke will follow suit in the same Sex Crime category for repeated involuntary fornication with the world's middle class. 

 

 

US Mint Sells Record 4.2 Million American Eagle Silver Coins In November

 

Portuguese PM Response To Downgrade: "We Dot Not Need Any Help"

Of course, he will need not only help, but a bailout, in one week when his bonds are trading a 10%+. In the meantime, let the comedy continue.

S&P Places Portugal On Watch Negative, May Cut A- Rating

China Approves Fund That Will Invest In Foreign Gold ETFs, Opening Avenue For Millions Of Mainland Investors

And here is the catalyst: China has approved a fund that will invest in gold exchange-traded funds outside the country, opening the door to mainland China investors who face negative real interest rates on their bank deposits and want to hedge against inflation. Beijing-based Lion Fund Management Co. said they received approval from the China Securities Regulatory Commission on Monday to proceed with the fund. Next stop: gold much higher as the bubble mania is really unleased in such ETFs as GLD, UGL and PHYS.

 

In The News Today

Posted: Nov 30 2010     By: Jim Sinclair      Post Edited: November 30, 2010 at 5:24 pm
Filed under: In The News

Jim Sinclair’s Commentary
Buy back mortgage contracts are getting pushed back from the banksters. You don’t think the banksters want to own that crap they sold to Fannie and Freddie do you?
The expected amount is to exceed $120 billion in buy back contract executions so far refused. This is just another small problem for the Western financial world.
Securitized debt was manufactured to be sold, not to be bought back.

Banks Resisting Fannie, Freddie Demands to Buy Back Mortgages 2010-11-30 05:00:01.2 GMT
By Lorraine Woellert and Clea Benson
Fannie Mae and Freddie Mac are facing growing resistance as they attempt to push failed home loans off their books and onto the balance sheets of banks including Bank of America Corp. and JPMorgan Chase & Co.
The two government-owned mortgage companies are enforcing contracts that require lenders to buy back loans that didn’t meet underwriting standards. At the end of September, the companies reported, banks hadn’t responded to $13 billion in buyback requests. A third of those were at least four months old and Freddie Mac has begun to assess penalties for the delays.
Lenders say they are resisting buybacks because McLean, Virginia-based Freddie Mac and Washington-based Fannie Mae are unfairly second-guessing old appraisals, accusing originators of failing to verify income, or pinning failed loans on minor technical errors. Larger banks say they can handle the potential losses. Some smaller lenders say the strain could sink them.
About 40 percent of repurchase requests are rescinded after lenders provide additional paperwork, said John A. Courson, chief executive officer of the Mortgage Bankers Association, a Washington trade group.
“We’re burning a lot of stockholder resources, and clearly a lot of Fannie and Freddie resources, to have 40 percent of these things rescinded,” Courson said in an interview. “It hurts the banks and frankly we’re wasting government resources, too.”
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Hourly Action In Gold From Trader Dan

Posted: Nov 30 2010     By: Daniel Duval      Post Edited: November 30, 2010 at 1:42 pm
Filed under: Trader Dan Norcini

Dear CIGAs,
Considering the fact that today is the end of the month and that during such times, many markets that have been in uptrends see some price weakness as traders book profits, gold, and silver for that matter, displayed impressive strength as buyers went to work. One can only suspect that December should start off very well for the fans of both metals based on what we saw today as overhead resistance levels were shattered and both markets appear to have broken out of recent consolidation patterns and look poised to move higher.
If that wasn’t enough, Gold priced in terms of the Japanese Yen made a 27 year high at today. When priced in terms of the British Pound and the Euro, it set new lifetime highs respectively. It also is within a few francs of setting a lifetime high in terms of the Swiss Franc.
Clearly unrest regarding the sovereign debt crises of some of the Euro nations is bringing strong demand from the continent into gold and silver for that matter as silver made a new record high when priced in terms of the Euro.
One can easily make the case that a crisis of confidence in the current monetary system is manifesting itself in no uncertain terms. Seeing that the fiat system relies on the confidence of the investing public to support it, where does this now leave the global investment community? Bonds may be moving higher as a safe haven but they are a fool’s charade, a mirage, that will leave those who chase them forlorn and broken. When all the glamour is swept aside, they are nothing more than mere IOU’s from nations who have spent themselves into a black hole.
Bonds look to me like they are at a crossroads here. The long bond has moved back up to retest the former broken support level near 129^15. That level is serving as resistance now. If they fall back away from this level it will bring in additional selling and push them back down towards 125. If they can muster a close back above this level, they will have once again managed to snatch victory from the jaws of defeat. That is the reason it is difficult to be too aggressive towards these things. There are so many undercurrents that are impacting their price movement at this time.
The Dollar continues trekking merrily higher and it is benefiting from continued woes regarding the various nations that are having problems in the EU. It looks like it has a shot at moving towards 83.50 where it should attract some rather strong selling even with the current sad state of the European monetary union. As stated in my recent radio interview, all of these fiat currencies have their own particular set of problems and that is why gold is divorcing itself from its former nearly tic by tic inverse movement with the Dollar. The yellow metal is trading as a currency in its own stead and has pretty much been ignoring the Dollar of late.
I do not see much in the way of overhead resistance to Silver until it nears 28.90. If it closes above that level, it will run to $30 in short order.
The HUI needs a closing print above 557 to encourage additional buying and to give it a decent shot at challenging the 580 level. Many individual companies within the mining sector are going to show some impressive profits come reporting time.
Crude oil looks like it has established a pretty solid floor near the $80 barrel level. It appears to be attempting to “grind higher” on the weekly price chart.
Click chart to enlarge today’s hourly action in Gold in PDF format with commentary from Trader Dan Norcini


Calling Dr. Copper CIGA Eric
The growing positive divergence of trend energy relative, REV(E), to the price of copper portends another up phase. The message from the copper market remains a sharp contrast to the experts calling for an end of the commodity bull due to a strengthening dollar. Building strength in the copper trend suggest that differential rates of depreciation in the paper world do not define strength.
iPath DJAIG Copper (JJC):
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Eric,

It looks like a Weimar experience to me.

Jim

"Set them Up Fellas" – COT Equity Money Flows CIGA Eric
Connected money is buying weakness.
S&P 500 and the Commercial Traders COT Futures and Options Equity Diffusion Index (DI):
Meanwhile, retail money, often dependent on the work of ‘experts’, are selling weakness.
S&P 500 and the Nonreportable Traders COT Futures and Options Equity Diffusion Index (DI):
Who do you think is right?
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