Silver Blasts to 43.05 in access market/gold advances as well

Harvey Organ, Saturday, April 16 2011

Silver Blasts to 43.05 in access market/gold advances as well

Alasdair Macleod: Anatomy of a short squeeze

 

Mining shares priced for 2001 gold and silver prices, Norcini tells KWN

Jim Sinclair’s Commentary

The making of the Squid!

“When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral Code that glorifies it.” –Frederic Bastiat



Jim Sinclair’s Commentary

Gold is debt. Debt is set. Gold will go ballistic soon.

Obama Confirms Leadership Failure, Pulls Out Mother Of All Mutual Assured Nukes: "Raise Debt Ceiling Or Risk Global Recession"

Submitted by Tyler Durden on 04/15/2011 15:33 -0400

And people made fun of Hank Paulson for threatening with eternal damnation if congress didn't stamp his multi-trillion blank check to bail out his former co-workers from Goldman. In a step that makes the Kashkari-Paulson threat seem like amateur hour, the teleprompter just received its latest high frequency directive from the Wall Street superiors, promptly delivering the latest MAD message to what continues to be perceived as an idiot audience: "Failure by Congress to raise the U.S. debt limit "could plunge the world economy back into recession," President Barack Obama declared Friday, and he acknowledged that he must compromise on spending with Republicans who control the House to avoid such a crisis. Obama urged swift action, saying he doesn't want the United States to get close to a deadline that would destabilize financial markets. He said he was confident Congress ultimately would raise the limit. "We always have. We will do it again," said Obama, who voted against raising the debt limit as a freshman senator from Illinois." The statement merely underscores that the president is now in contention for the Nobel Prize in hypocrisy: after all compare this statement to Obama's now supremely ironic remark from March 20, 2006: "The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better." They sure do. And in order to replace the current failed leadership, they will gladly start with a new president.

Jan Hatzius Friday Night Bomb: "We Are Downgrading Our Real GDP Growth Estimate To 1¾% From 2½%"

Submitted by Tyler Durden on 04/15/2011 22:35 -0400

Nobody could have seen this coming: "With most of the news on first-quarter growth now in, the GDP “bean count” looks even softer than it did a couple of weeks ago. The most recent disappointments have come on the export side—with trade now set to subtract significantly from growth in the quarter—and from inventories. Consequently, we are downgrading our real GDP growth estimate to 1¾% (annualized), from 2½% previously (and from 3½% not too long ago)." Some other things nobody will be able to predict: Hatzius dropping full year GDP from 4% to 2.25%; Goldman's downgrade of precious metals, Kostin's 2011 S&P 500 price target reduction by 20%, and Goldman getting its New York Fed branch to commence monetizing $1.5 trillion in debt some time in October.

An Odd Directive From The Chinese Ministry Of Truth: "Delete All Rumors Of Japan Elites Emigrating To Hainan Island"

Submitted by Tyler Durden on 04/15/2011 13:46 -0400

While we were scouring the latest directives disclosed by the Chinese Ministry of Truth, conveniently leaked on a weekly basis by China Digital Times, we encountered this oddity:

State Council Information Office: Plans for Japanese to Immigrate to Hainan Island, China

April 2, 2011

From the Ninth Bureau of the State Council Information Office: All websites are asked to monitor interactive spaces and immediately delete rumors similar to the following: “Breaking news: Japanese elites discussing plan to emigrate to Hainan Island, China.”

Questions arise: why is China so focused on removing any trace of this rumor? Is it because it is false (probably not the smartest thing, as anyone disseminating it would merely discredit themselves)? Or, perhaps, because it is true?

E*Trade Baby Turns Momo, Blows It All

Submitted by Tyler Durden on 04/15/2011 15:08 -0400

The dark side of giving babies full discretionary stock/CDS/option HFT-eligible trading accounts. 

 

 

 

 

 

 

As Gasoline Prices Pass $3.81, Stranded Motorists Looking For Cheap Refueling Options Surge

Submitted by Tyler Durden on 04/16/2011 11:12 -0400

Following this week's ebullient UMichigan consumer confidence readings (which continue to diverge from reality as per Gallup which oddly enough does not poll Wall Street CEOs who are always eager to give their economic assessment from the infinity pool while vacationing in Fiji) one would think that the price of gas had fallen of a cliff. Alas no. In fact quite the opposite. And the propaganda logic of the domestic ministry of disinformation, consumers in Hawaii must be by far the most confident as it is the state where gas prices are now at virtually all time highs, well ahead of the peak summer driving season. Businessweek reports: "Hawaii's average price for a gallon of regular unleaded gasoline hit a nation-leading $4.46 on Thursday, 28 cents higher than second-place California. The national average reached $3.81, according to AAA data. Wyoming had the cheapest gas in the country at $3.53. As many states brace for gas to climb to $4, Hawaii was the first to reach that mark a month ago. The Aloha state's average on Thursday was 12 cents higher than a week ago, according to the automobile association." The weekly increase is double what the national spike for regular gas was, which moved from $3.750 to $3.818 in the span of a week (compared to $2.858 a year ago). And as the LA Times reports, the ongoing surge in gas prices has led many to paradoxical outcome of literally run out of while driving from station to station looking for the cheapest refuelling option.