From goldprice.org:
"GOLD/SILVER RATIO touched more new lows this week. Closed today at 38.486. Shhhh -- Listen. Come close and I'll tell y'all something you won't hear anywhere else, but don't tell anybody. At 38.486 the ratio stands below its 10 year, below its 20 year, below its 30 year, below its 50 year, below its 60 year, and below its 110 year average. In fact, it's nearer the 220 year average than the 110 year. Put that into perspective: the 10 year average is 60.53, 22 points higher.
Friends, the big run has begun."
"GOLD/SILVER RATIO touched more new lows this week. Closed today at 38.486. Shhhh -- Listen. Come close and I'll tell y'all something you won't hear anywhere else, but don't tell anybody. At 38.486 the ratio stands below its 10 year, below its 20 year, below its 30 year, below its 50 year, below its 60 year, and below its 110 year average. In fact, it's nearer the 220 year average than the 110 year. Put that into perspective: the 10 year average is 60.53, 22 points higher.
Friends, the big run has begun."
At King World News, Turk and Embry prepare for metal's big move
Submitted by cpowell on Wed, 2011-03-23 23:45. Section: Daily Dispatches7:36p ET Wednesday, March 23, 2011
Dear Friend of GATA and Gold (and Silver):
Eric King of King World News tonight cranks up the wattage for Radio Free Markets, interviewing GoldMoney founder James Turk and Sprott Asset Management's chief investment strategist, John Embry, about what may prove to be the big gold and silver breakouts.
I'm hearing some shit here folks that the Genz has fled! Monday will bring fireworks? Just a heads up, that something EPIC might be on its way.
Wonder why the administration made such a stink of reducing the US airborne presence around Libya, and handing it off to France, Italy, Canada and Turkey? Here's the answer: the CVN65 Enterprise which last week was within striking distance of Libya, has quietly left the Red Sea and is now virtually swimming in the wake of CVN 70 Vinson in the Strait of Hormuz. Because obviously whatever is about to happen in the Persian Gulf will need not one but two aircraft carrier formations. And meanwhile in Japan the Washington is doing all it can to put radiation free miles between itself and Fukushima, even as the Essex, chock full of marines is sitting on the coast waiting for orders.
The one revolution currently rocking the Levant region (more fitting than MENA as it include Greece which at last check was also not all that peaceful, as well as Italy, which soon won't be all that peaceful either) that few are talking about is that of Syria, which has been put on the backburner as no holy crusade is currently in place to liberate its people, but, far more importantly, its oil, nor does it even have oil, is that of Syria. Which is unfortunate because all the public outcry crusaders who just look for their chance to express their disapproval of the latest toppling regime (after quietly sitting on the sidelines for ages saying nothing), would have a field day with what is going on in Damascus, but primarily the city of Daraa for the time being. Per Haaretz: "Syrian security forces killed on Saturday two protesters who tried to torch the ruling Baath Party headquarters in the port city of Latakia, rights activist Ammar Qarabi told Reuters in the Egyptian capital. Protesters set fire to offices of the ruling party in southern and western Syria on Saturday, burning tires and attacking cars and shops in a religiously mixed city on the Mediterranean coast, according to accounts by government officials, activists and witnesses. More than a week of protests centered in Daraa exploded into nationwide unrest Friday when tens of thousands of protesters marched in cities, town and villages around the country, posing the greatest threat in decades to the Baath party's iron-fisted rule." Unfortunately for the people of Syria, they should prepare for the same kind of retaliation that Gaddafi rained upon his own discontents, until France, pardon the UN, pardon the US, pardon NATO, pardon not the Arab League, pardon total chaos, decided to step in and order a no fly zone. Alas, rule #1 in international economics: "No oil Zone", means no "No fly zone." Syria, you are on your own.
Just your typical London protest. The Telegraph has recorded the attempted break and entry into a bank, which however proves too much for scattered "anarchists" courtesy of reinforced glass. The same can not be said for the Ritz hotel unfortunately.
Following our latest Fed balance sheet update, where we get another confirmation that for another week the Fed's assets have hit a fresh all time record (Bernanke now owns nearly $200 billion more Treasurys than China), there are two items that we believe deserve far closer scrutiny. The first is the as expected drop in MBS and Agency prepayments, which after seeing an initial surge in activity when rates were low enough to merit prepaying existing mortgages, has now plunged. In fact in the last several weeks the average prepay activity is roughly half of what it was in the September-December period. This is critical as it impacts the amount of debt the Fed can monetize via the QE Lite component of the ongoing monetization procedure. Should this weekly prepayment amount remain constrained, the Fed will have far less of a marginal impact on share prices (which is what POMO ultimately is) then if QE Lite was working at its expected $25-35 billion a month monetization run rate (in addition to the $70-80 billion from QE 2). Yet far more questionable is the recent surge in "Other Federal Reserve Assets" - an observation we have commented on previously, yet which we attributed merely to capitalized accrued interest on the Fed's portfolio. However, following the recent remittance of tens of billions in interest expense from the Fed to the Treasury we now know that is not the case, so we kindly request that the Fed answer the following simple question: just what is the key driver in the growth of this asset category, which in the week ending March 23 hit a fresh all time high of $120.4 billion? In fact, we are rather stunned that nobody before has asked just what "other assets" comprise a line item that is greater than the GDP of about 80% of the world's countries.
Worst Texas Drought in 44 Years Eroding Wheat, Beef Supply as Food Rallies Default or not to default? Now that's a no-brainer Just Not in Time Manufacturing: Toyota Tells US Plants "Prepare to Shut Down"
Breaks in Supply Chain: Disaster in Japan Sends Ripples Through Global Economy
Dear Friend of GATA and Gold (and Silver):
Eric King of King World News tonight cranks up the wattage for Radio Free Markets, interviewing GoldMoney founder James Turk and Sprott Asset Management's chief investment strategist, John Embry, about what may prove to be the big gold and silver breakouts.
Alasdair Macleod: Inflation and equities
Caution strong language...
Is the JP Morgue Like OJ owning a CSI firm and investigating his own murder?
Did the Genz just flee to Europe?
US Naval Update: CVN 65 Enterprise Abandons Libya, Reinforces CVN 70 Vinson In Straits Of Hormuz
Submitted by Tyler Durden on 03/26/2011 20:22 -0400Wonder why the administration made such a stink of reducing the US airborne presence around Libya, and handing it off to France, Italy, Canada and Turkey? Here's the answer: the CVN65 Enterprise which last week was within striking distance of Libya, has quietly left the Red Sea and is now virtually swimming in the wake of CVN 70 Vinson in the Strait of Hormuz. Because obviously whatever is about to happen in the Persian Gulf will need not one but two aircraft carrier formations. And meanwhile in Japan the Washington is doing all it can to put radiation free miles between itself and Fukushima, even as the Essex, chock full of marines is sitting on the coast waiting for orders.
Videos From The Violent Syrian Revolution: Will A "No Oil Zone" Mean Syrians Can Kiss Dreams Of A "No Fly Zone" Goodbye?
Submitted by Tyler Durden on 03/26/2011 19:58 -0400The one revolution currently rocking the Levant region (more fitting than MENA as it include Greece which at last check was also not all that peaceful, as well as Italy, which soon won't be all that peaceful either) that few are talking about is that of Syria, which has been put on the backburner as no holy crusade is currently in place to liberate its people, but, far more importantly, its oil, nor does it even have oil, is that of Syria. Which is unfortunate because all the public outcry crusaders who just look for their chance to express their disapproval of the latest toppling regime (after quietly sitting on the sidelines for ages saying nothing), would have a field day with what is going on in Damascus, but primarily the city of Daraa for the time being. Per Haaretz: "Syrian security forces killed on Saturday two protesters who tried to torch the ruling Baath Party headquarters in the port city of Latakia, rights activist Ammar Qarabi told Reuters in the Egyptian capital. Protesters set fire to offices of the ruling party in southern and western Syria on Saturday, burning tires and attacking cars and shops in a religiously mixed city on the Mediterranean coast, according to accounts by government officials, activists and witnesses. More than a week of protests centered in Daraa exploded into nationwide unrest Friday when tens of thousands of protesters marched in cities, town and villages around the country, posing the greatest threat in decades to the Baath party's iron-fisted rule." Unfortunately for the people of Syria, they should prepare for the same kind of retaliation that Gaddafi rained upon his own discontents, until France, pardon the UN, pardon the US, pardon NATO, pardon not the Arab League, pardon total chaos, decided to step in and order a no fly zone. Alas, rule #1 in international economics: "No oil Zone", means no "No fly zone." Syria, you are on your own.
London Rioters Attack Ritz Hotel, Fail To Dent Reinforced Glass
Submitted by Tyler Durden on 03/26/2011 15:21 -0400Just your typical London protest. The Telegraph has recorded the attempted break and entry into a bank, which however proves too much for scattered "anarchists" courtesy of reinforced glass. The same can not be said for the Ritz hotel unfortunately.
Of The Fed's $120 Billion In "Other Assets" - An $80 Billion Gift To Primary Dealers?
Submitted by Tyler Durden on 03/26/2011 14:51 -0400Following our latest Fed balance sheet update, where we get another confirmation that for another week the Fed's assets have hit a fresh all time record (Bernanke now owns nearly $200 billion more Treasurys than China), there are two items that we believe deserve far closer scrutiny. The first is the as expected drop in MBS and Agency prepayments, which after seeing an initial surge in activity when rates were low enough to merit prepaying existing mortgages, has now plunged. In fact in the last several weeks the average prepay activity is roughly half of what it was in the September-December period. This is critical as it impacts the amount of debt the Fed can monetize via the QE Lite component of the ongoing monetization procedure. Should this weekly prepayment amount remain constrained, the Fed will have far less of a marginal impact on share prices (which is what POMO ultimately is) then if QE Lite was working at its expected $25-35 billion a month monetization run rate (in addition to the $70-80 billion from QE 2). Yet far more questionable is the recent surge in "Other Federal Reserve Assets" - an observation we have commented on previously, yet which we attributed merely to capitalized accrued interest on the Fed's portfolio. However, following the recent remittance of tens of billions in interest expense from the Fed to the Treasury we now know that is not the case, so we kindly request that the Fed answer the following simple question: just what is the key driver in the growth of this asset category, which in the week ending March 23 hit a fresh all time high of $120.4 billion? In fact, we are rather stunned that nobody before has asked just what "other assets" comprise a line item that is greater than the GDP of about 80% of the world's countries.
TEPCO Admits To Another Cover Up As Radioactivity In Seawater Near Fukushima Soars To 1,251 Above Legal Limit
Submitted by Tyler Durden on 03/26/2011 10:26 -0400The latest news out of Fukushima confirms fears that irradiated water containment at the radioactive plant has been complete breached, after Radioactive iodine-131 at a concentration 1,250.8 times the legal limit was detected Friday morning in a seawater sample taken around 330 meters south of the plant, near the drainage outlets of the four troubled reactors, the government's Nuclear and Industrial Safety Agency said Saturday. As Kyodo updates: "The level rose to its highest so far in the survey begun this week, after remaining around levels about 100 times the legal limit. It is highly likely that radioactive water in the plant has found its way into the sea, TEPCO said." It's all good though: the government has a prepared strawman for this unprecedented surge in radioactivity as well."Radioactive materials ''will be significantly diluted'' by the time they are consumed by marine species, the agency said, adding it would not have a significant impact on fishery products as fishing is not being conducted in the area within 20 kilometers of the plant because the government has issued a directive for residents in the zone to evacuate." But none of this matter as we get the latest confirmation that no news coming out of the stricken plant can be trusted: "TEPCO's Fukushima office acknowledged Saturday that it had known earlier that the radiation in the underground level of the turbine building of one of the reactors was extremely high, but had not made the information available to pertinent parties."
US Finances Rank Near Worst in the World: Study.
US Finances Rank Near Worst in the World: Study.
Breaks in Supply Chain: Disaster in Japan Sends Ripples Through Global Economy
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