Follow The Egyptian Revolution Live Via Al Jazeera

Submitted by Tyler Durden on 01/28/2011 07:49 -0500

Forget the irrelevant inventory accumulation... pardon... GDP number. The real news today is coming from Egypt, where history is currently being made and a regime is in the process of being overthrown despite the unprecedented country-wide internet shutdown. The fallout from today's riots will be momentous. Follow all the news in real time from Al Jazeera. 

 

 

 

 

Al Jazeera Egyptian Broadcast To Be Shut Down By Police

Submitted by Tyler Durden on 01/28/2011 10:50 -0500

Update from Egypt: The Al Jazeera broadcast live from Egypt is about to be shut down as the police are literally knocking on their office door in Cairo.
Watch it go down live here.

 

 

 

 

Next Domino: Syria Shuts Down Internet Service

Submitted by Tyler Durden on 01/28/2011 09:57 -0500

With Egypt pretty a done deal, many are wondering who is next. Al Arabiya provides the answer: Syria has just shut down its internet service. And as one glance at the map below suggests, should this indeed be the case, and if Jordan promptly follows suit, Israel will be surrounded by revolutions. Which is surely a reason for WTI to plunge another 20%.

 

 

 

 

Meet The Man Behind The Liquidating Hedge Fund That Blew Up The Gold Market

Submitted by Tyler Durden on 01/28/2011 10:31 -0500

Over the past several weeks there had been rumors that the reason for the precipitous drop in gold was primarily driven by a hedge fund liquidating its futures positions. This has now been confirmed: "Yeah, that was just me liquidating my spread position," Mr. Daniel Shak, [of SHK Asset Management] 51 years old, said in an interview. "I had a significant, fully margined position. The dollar amount of the gold liquidation was very small, it was just a lot of contracts." Of course in the extremely jittery gold market, the kind of persistent marginal gross selling of contracts was all that was needed to spook weak hands into a consistent dump of the precious metal, which as we pointed out was beyond overdone. Judging by this morning's jump in the PM complex, SHK's liquidation is now not only over but about to promptly reverse as daytrading momos realize they were duped by one single guy. Look for gold to resume its upward advance as investors realize that the gold dump was nothing more than an ongoing futures position liquidation. 

 

 

 

 

 

Goldman Closes EURUSD Trade Two Days After Revising Target To 1.40

 

Nasdaq Data Dissemination Halted As Nasdaq Proxy Apple Sells Off

Submitted by Tyler Durden on 01/28/2011 10:15 -0500

Something odd is going on with the market today: the NASDAQ has, for reasons unknown, halted disseminations and while we are trying to figure out what the reason for this odd market moving event is, confirmed by major sustained negative ticlks, we are looking at the one stock that is more indicative of the Nasdaq (with a 20% weighting) than any other company: Apple. Judging by the chart, there are some very peculiar technicals in process. Just like Greek rioting prompted the flash crash, will today's Egypti

Portuguese, Spanish Bonds Back To All Time High Yields

 

Geithner Does Not See Global Inflation As A Concern

Submitted by Tyler Durden on 01/28/2011 09:23 -0500

Further confirming that America deserves each of its elected officials, in this case a Treasury Secretary whose intellect is increasingly put into question with every single utterance out of his mouth, was Tim Geithner's statement from Davos earlier that inflation on a global level is "not high on the list of concerns" although probably while looking at pictures of tear gas being fired at protesters in Tunisia, Algeria, Yemen, Morocco and now Egypt he added "emerging markets across the world are certainly 'feeling some pressure'." If by pressure he means revolutions, then he is certainly spot on. As for Egypt's soon to be deposed leaders, Timmy has four words of advice: please kill the dollar. "Geithner told the World Economic Forum that emerging markets could manage their inflation problems better if they loosened their currencies' links to the dollar, a measure that economists say would lead in most cases to an appreciation against the greenback." And there you have it: America continues keeping the world hostage courtesy of the dollar's reserve status, able to export inflation at will knowing that the US consumer is irreplaceable, and the only recommendation we have to the world is to continue devaluing the dollar (yes, a weaker dollar means stronger opposing non-dilutable currencies), an act for which we are sure the US middle class thanks him.

The US And The UK Lie About Inflation

posted by Admin at Jim Rogers Blog - 40 minutes ago

*"Most governments acknowledge it - India, China, Norway, Australian, Taiwan - it is only the UK and the US who say there is no inflation, but they lie about it."* - in CNBC *Jim Rogers is an author, fina...