MUST READ...Harvey Organ, Saturday, March, 26 2011
Filed under: Trader Dan Norcini
Posted: Mar 25 2011 By: Jim Sinclair Post Edited: March 25, 2011 at 10:52 pm
Filed under: In The News
Dear CIGAs,
Keep focused. Gold’s price is a product of debt levels and debt viability.
Governments stand and fall on the condition of their debt and ability to borrow.
Jim Sinclair’s Commentary
More from John Williams’ Shadowstats.com.
- Revised Industrial Production Shows Much Deeper Recession
- February’s Production Level Lowered by 2.6%
"No. 360: Industrial Production Revisions"
Web-page: http://www.shadowstats.com
Jim Sinclair’s Commentary
QE to Infinity because there is no other functional alternative. The operative word here is "functional."
Household wealth down 23% in 2 years – Fed
By Charles Riley, staff reporterMarch 24, 2011: 4:04 PM ET
NEW YORK (CNNMoney) — The average American family’s household net worth declined 23% between 2007 and 2009, the Federal Reserve said Thursday.
A rare survey of U.S. households, first performed in 2007 but repeated in 2009 in order to gauge the effects of the recession, reveals the median net worth of households fell from $125,000 in 2007 to $96,000 in 2009.
Titled "Surveying the Aftermath of the Storm," the report offers a broad look at how the financial crisis impacted individual households.
It is widely known that the 2008 financial crisis resulted in the vaporization of trillions of dollars in household wealth. But Federal Reserve officials said Thursday the new report offers a look at exactly how hard the recession hit families, and how they reacted.
The numbers paint a stark picture.
Families that owned stock saw their portfolios drop by more than a third to $12,000 from $18,500, on average. The value of primary real estate holdings decreased by an average of $18,700.
And families took on more debt, pushing median total debt levels to $75,600 from $70,300. They also made less money. Media household income dropped from to $49,800 from $50,100.Interestingly, families below the median national income in 2007 actually saw their earnings increase by 2009. Meanwhile, families that started above the national average in 2007 saw their incomes decline.
More…
posted by Eric De Groot at Eric De Groot - 9 minutes ago
After leading to the collapse of the Portuguese government, anti-austerity anger is now ramping up at the very heart of the old continent, where the biggest demonstration in over a decade has struck in London. Per the Guardian: "More than a quarter of a million protesters against public sector cuts are expected to flood central London today in the biggest political demonstration for nearly a decade. Police sources, normally cautious about estimating numbers, said last night they were braced for up to 300,000 people to join the march – far higher than previous forecasts from TUC organisers. More than 800 coaches and at least 10 trains have been chartered to bring people to the capital from as far afield as Cornwall and Inverness. The Metropolitan police, under fire for their use of kettling in previous protests, said "a small but significant minority" plan to hijack the march to stage violent attacks. Organisers, however, insist it will be a peaceful family event. Union members are expected be joined by a broad coalition, from pensioners to doctors, families and first-time protesters to football supporters and anarchists. Ed Miliband said the government was dragging the country back to the "rotten" 1980s. Labour is calling today's event the "march of the mainstream"." Some of the protesters, already pigeonholed as "anarchists", have already become unruly as a splinter group has formed on the iconic Oxford street where it is engaged in altercations with the Police, including throwing smoke bombs, lightbulbs filled ammonia..
Confirming that in a time of instantaneous crowdsourced information distribution and analysis, any attempt by a government to institute an information blackout of any nature is doomed to failure, is the following amazing Google Earth-based 3D interactive map of Geiger readings from Japan. And if that is not enough, the Pachube community has released an extensive selection of crowd-sourced realtime radiation monitoring tools and widgets, focusing on as many Japanese territories as possible. Shortly we are confident all geographical holes will be filled, and every square mile of the affected territories will be mapped out surpassed the government's "Under Survey" blackout attempts.
In a really bizarre moment in history, a single American dollar was actually worth 4.2 trillion German marks.
It really happened. To fund its mega-expensive World War I effort, Germany severed the tie between its mark and gold -- something that's always happened, sooner or later, with government-generated currency.
Today there are no gold-backed currencies in the world.
Raid in silver and gold fail/Monday is Day of Judgment for position Limits
Posted: Mar 25 2011 By: Dan Norcini Post Edited: March 25, 2011 at 6:55 pmFiled under: Trader Dan Norcini
Dear CIGAs,
It is no secret to those attuned to market action that the US Dollar’s technical chart picture is horrendous. It had broken through a critical support level near 77 on the USDX last week and had further descended down towards the tremendously important 75 level. No matter what appeared to be happening in the world, the US Dollar could not get much if any of a safe haven bounce.
Currency traders had been moving to the Swiss Franc as their choice of a safe haven. The Aussie has been making new highs and the Canadian Dollar has been very strong as well.
Now, it is also obvious that the US would dearly love to see the Dollar stay weak to help it deal with its massive debt load but the ugly truth is that the Dollar was on course for a major crisis if it violated the 75 level.
Enter the Fed officials today and yesterday. Apparently the strategy was to get several of the FOMC governors to hit the airwaves talking about ending the QE program. Since it is QE that has been partly responsible for Dollar weakness – along with the abysmal fiscal condition of the nation – something had to be done to prevent a Dollar crash. This is the reason we are getting a sudden rash of Fed officials looking for microphones and venues to talk about ending QE.
Result? Up goes the Dollar and down goes the precious metals market. Coincidence? I hardly think so. If you understand what I wrote earlier this week explaining the antagonism of Western Central Bankers against gold, then you can easily understand that its rise to a new all time high is testifying against the steady debauchment of the US currency by the Federal Reserve.
As a kicker, they also manage to further knock down the Japanese Yen saving themselves and the rest of their pals at the G7 from having to actually pay to undergo another round of currency intervention.
You have just witnessed a shrewdly hidden round of verbal intervention camoflauged as normal policy discussions.
Click chart to enlarge in PDF format with commentary from Trader Dan Norcini
For further market analysis and commentary, please see Trader Dan’s website at www.traderdan.net
It is no secret to those attuned to market action that the US Dollar’s technical chart picture is horrendous. It had broken through a critical support level near 77 on the USDX last week and had further descended down towards the tremendously important 75 level. No matter what appeared to be happening in the world, the US Dollar could not get much if any of a safe haven bounce.
Currency traders had been moving to the Swiss Franc as their choice of a safe haven. The Aussie has been making new highs and the Canadian Dollar has been very strong as well.
Now, it is also obvious that the US would dearly love to see the Dollar stay weak to help it deal with its massive debt load but the ugly truth is that the Dollar was on course for a major crisis if it violated the 75 level.
Enter the Fed officials today and yesterday. Apparently the strategy was to get several of the FOMC governors to hit the airwaves talking about ending the QE program. Since it is QE that has been partly responsible for Dollar weakness – along with the abysmal fiscal condition of the nation – something had to be done to prevent a Dollar crash. This is the reason we are getting a sudden rash of Fed officials looking for microphones and venues to talk about ending QE.
Result? Up goes the Dollar and down goes the precious metals market. Coincidence? I hardly think so. If you understand what I wrote earlier this week explaining the antagonism of Western Central Bankers against gold, then you can easily understand that its rise to a new all time high is testifying against the steady debauchment of the US currency by the Federal Reserve.
As a kicker, they also manage to further knock down the Japanese Yen saving themselves and the rest of their pals at the G7 from having to actually pay to undergo another round of currency intervention.
You have just witnessed a shrewdly hidden round of verbal intervention camoflauged as normal policy discussions.
Click chart to enlarge in PDF format with commentary from Trader Dan Norcini
For further market analysis and commentary, please see Trader Dan’s website at www.traderdan.net
Posted: Mar 25 2011 By: Jim Sinclair Post Edited: March 25, 2011 at 10:52 pm
Filed under: In The News
Dear CIGAs,
Keep focused. Gold’s price is a product of debt levels and debt viability.
Governments stand and fall on the condition of their debt and ability to borrow.
Jim Sinclair’s Commentary
More from John Williams’ Shadowstats.com.
- Revised Industrial Production Shows Much Deeper Recession
- February’s Production Level Lowered by 2.6%
"No. 360: Industrial Production Revisions"
Web-page: http://www.shadowstats.com
Jim Sinclair’s Commentary
QE to Infinity because there is no other functional alternative. The operative word here is "functional."
Household wealth down 23% in 2 years – Fed
By Charles Riley, staff reporterMarch 24, 2011: 4:04 PM ET
NEW YORK (CNNMoney) — The average American family’s household net worth declined 23% between 2007 and 2009, the Federal Reserve said Thursday.
A rare survey of U.S. households, first performed in 2007 but repeated in 2009 in order to gauge the effects of the recession, reveals the median net worth of households fell from $125,000 in 2007 to $96,000 in 2009.
Titled "Surveying the Aftermath of the Storm," the report offers a broad look at how the financial crisis impacted individual households.
It is widely known that the 2008 financial crisis resulted in the vaporization of trillions of dollars in household wealth. But Federal Reserve officials said Thursday the new report offers a look at exactly how hard the recession hit families, and how they reacted.
The numbers paint a stark picture.
Families that owned stock saw their portfolios drop by more than a third to $12,000 from $18,500, on average. The value of primary real estate holdings decreased by an average of $18,700.
And families took on more debt, pushing median total debt levels to $75,600 from $70,300. They also made less money. Media household income dropped from to $49,800 from $50,100.Interestingly, families below the median national income in 2007 actually saw their earnings increase by 2009. Meanwhile, families that started above the national average in 2007 saw their incomes decline.
More…
QE to Infinity because there is no other functional alternative. The operative word here is "functional." Jim Jim has an uncanny ability to anticipate moves, because he understands the forces driving capit...
Why You Should be Freaked Out About the Stock MarketFollow London's Biggest Demonstration In A Decade As 300,000 Protest Austerity And Public Sector Cuts
Submitted by Tyler Durden on 03/26/2011 10:08 -0400After leading to the collapse of the Portuguese government, anti-austerity anger is now ramping up at the very heart of the old continent, where the biggest demonstration in over a decade has struck in London. Per the Guardian: "More than a quarter of a million protesters against public sector cuts are expected to flood central London today in the biggest political demonstration for nearly a decade. Police sources, normally cautious about estimating numbers, said last night they were braced for up to 300,000 people to join the march – far higher than previous forecasts from TUC organisers. More than 800 coaches and at least 10 trains have been chartered to bring people to the capital from as far afield as Cornwall and Inverness. The Metropolitan police, under fire for their use of kettling in previous protests, said "a small but significant minority" plan to hijack the march to stage violent attacks. Organisers, however, insist it will be a peaceful family event. Union members are expected be joined by a broad coalition, from pensioners to doctors, families and first-time protesters to football supporters and anarchists. Ed Miliband said the government was dragging the country back to the "rotten" 1980s. Labour is calling today's event the "march of the mainstream"." Some of the protesters, already pigeonholed as "anarchists", have already become unruly as a splinter group has formed on the iconic Oxford street where it is engaged in altercations with the Police, including throwing smoke bombs, lightbulbs filled ammonia..
GoogleEarth Based 3D Map Of Real-Time Radioactivity Distribution In Japan; Projected Global Radioactivity Dispersion
Submitted by Tyler Durden on 03/25/2011 20:24 -0400Confirming that in a time of instantaneous crowdsourced information distribution and analysis, any attempt by a government to institute an information blackout of any nature is doomed to failure, is the following amazing Google Earth-based 3D interactive map of Geiger readings from Japan. And if that is not enough, the Pachube community has released an extensive selection of crowd-sourced realtime radiation monitoring tools and widgets, focusing on as many Japanese territories as possible. Shortly we are confident all geographical holes will be filled, and every square mile of the affected territories will be mapped out surpassed the government's "Under Survey" blackout attempts.
Guest Post: Thoughts On The Liberty Dollar Debacle
Submitted by Tyler Durden on 03/25/2011 19:14 -0400I was in the midst of the Save America Convention in Tampa, Florida when I heard, first, that Libya was under bombardment by the UN (led by U.S. forces), and, that Bernard von NotHaus of Liberty Dollar had been convicted of “counterfeiting”. It was a stressful day, to say the least. For those not familiar with the Liberty Dollar incident, In November of 2007, federal officials raided the group’s headquarters nestled in a strip mall and seized all documents and the gold and silver that backed up the paper certificates and digital currency being distributed through the Liberty Services website. The Justice Department asserted that Von NotHaus was placing gold and silver coins, along with precious metals currency, into circulation with the purpose of mixing them “into the current money of the United States.” To be clear, NotHaus made some serious mistakes, including pressing his coins to look semi-similar to standard federal currency, and also using language which could be interpreted to insinuate that his currency was “legal tender”. There are many barter networks in the U.S. that use gold and silver that do not have these kinds of problems with the government simply because they are careful not to make the same blunders. However, it wasn’t the conviction itself that struck me, so much as the language of the prosecutor, U.S. Attorney Anne Tompkins, in her post trial statement. Let
Lear Capital: Could an Ounce of Gold Be Worth Trillions One Day
Submitted by Zero Hedge on 03/25/2011 17:37 -0400In a really bizarre moment in history, a single American dollar was actually worth 4.2 trillion German marks.
It really happened. To fund its mega-expensive World War I effort, Germany severed the tie between its mark and gold -- something that's always happened, sooner or later, with government-generated currency.
Today there are no gold-backed currencies in the world.
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
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