Gold and silver rise/silver at 31 year high/Irish stress tests on banks reveal trouble ahead

Harvey Organ, Thursday, March 31 2011

Gold and silver rise/silver at 31 year high/Irish stress tests on banks reveal trouble ahead

 

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Mike Krieger Is On the Road...Again

Submitted by Tyler Durden on 03/31/2011 14:29 -0400

The backdrop is pretty simple but is too terrifying for the brainwashed amongst us to admit. The old order, of corporatist/fascism is on its last legs and it clutching onto its power desperately. This includes the Central Banking system itself and by extension pretty much all governments around the world. When rats are cornered they attack and that is what is happening now. In their attempts to save a dead system they will do everything they need to try to survive. The well being of the citizenry is largely irrelevant. Keeping them quiet and subservient is much more important. Well, the problem here is that in order to do this various countries need to achieve conflicting goals. In the West, the governments are merely attempting to keep standards of living flat or masking the deterioration (inflation) and in the emerging economies they must continue to raise living standards rapidly. Both of these things cannot happen in a centrally controlled global economy where money is being spewed from spigots and no one is investing. Let’s get real, everyone I know with half a brain and a lot of money is hedging themselves. Whether this means precious metals, a second passport, growing their own food, buying land overseas or all of the above, one thing they are not doing is investing in this economy. So instead of trying to deal with the root of the problem (monopoly money, rampant corruption in D..C and no rule of law) they just print money. If the root problems were dealt with, the TBTF banks shut down and executives jailed, the Federal Reserve shutdown gradually and replaced with hard money I promise you after a very challenging recession the smartest Americans would put their money to work and this economy would boom. Of course this won’t happen because the rats are in charge so an uncontrollable collapse is more likely the outcome. They would rather bring us all down into the depth of Hades rather than lose their grip on power. - Mike Krieger 

 

 

 

Lear Capital: Pay Attention and Gold May Pay You Back

Submitted by Zero Hedge on 03/31/2011 16:36 -0400

If ever there was an investment that deserved attention, by anyone trying to save and invest for the future, it is probably gold.

I can look back over the last 10 years and see how bubbles expanded and the economy soared due to a more than favorable credit environment.  I heard some gentlemen joking yesterday, about the way real estate used to be.  It used to be that you could buy anything, borrow more than it was worth and fantasize about your income in order to qualify.

More Relentless BS From The BLS (And Princeton) Forces Santelli To Snap

Submitted by Tyler Durden on 03/31/2011 18:42 -0400

As usual, the Department of [no] Labor did not fail to deliver its usual Thursday morning humor: yet more upward revisions to initial and continuing jobless claims (initial were revised upward by 8,000, while continuing were revised 12,000 higher). What was news, however, were the annual revisions that were released with the report. More humor: they were larger than the first revisions and contained comparable levels of upward bias. While free entertainment is always welcome, one can’t help but wonder why the DOL doesn’t borrow one of the FRBNY’s interns to adjust the specs in their model. It’s not like removing a predictable bias in a model is rocket science. All that said, nothing compares to Santelli finally losing it when confronted with yet another day of unimaginable bullshit coming at him from all directions, although in this case from Princeton professor Alan Blinder of whose op-ed he says: "if this is the qualification they teach in ivy league my daughter should be head of the university." 

 

 

 

Things That Make You Go Hmmm - On Silver Conspiracy Theories And Other Oddities

Submitted by Tyler Durden on 03/31/2011 20:26 -0400

From Grant Williams: "There are many commentators for whom I have the utmost respect, who completely discount any silver conspiracy theories. They cite the fact that it would be impossible for the manipulation to be conducted in the way that the conspiracy theorists allege or that there are corresponding longs for every short, but yet answers from either the regulators or those supposedly involved in the manipulation are conspicuous by their absence. Let’s face it - if this were a simple case of a misunderstanding it wouldn’t take much in the way of evidence to clear it up now, would it? Over the past several months, each time a futures contract has expired since the price break in silver began in earnest, the delivery situation has gotten progressively tighter until progressively closer to the wire and talk of a commercial signal failure has become progressively louder. The number of people opting to take warehouse receipts for delivery on first notice day has been climbing and stocks in the various warehouses have been declining to the point that it has been touch-and-go as to whether there would be enough physical silver on hand in the warehouses to satisfy demand for delivery. If, at some point in the (near?) future, time runs out and enough people stand for physical delivery, we will find out once and for all whether there is any truth to the manipulation/massive short position stories, and we will CERTAINLY discover how much physical metal there is available for delivery." 

 

 

 

Up, Up And Away (Part 2)

Submitted by Tyler Durden on 03/31/2011 21:27 -0400

It's a bird, it's a plane, it's the Adjusted Monetary Base... 

 

 

 

 

 

 

 

 

NFP +216,000, Unemployment Rate At 8.8%, U-6 At 15.7%

Submitted by Tyler Durden on 04/01/2011 08:30 -0400

NFP reports March NFP at 216,000, above expectations of 190,000, and higher from an upward revised February 194K. Private payrolls at 230K on expectations of 30K. The unemployment rate at 8.8% is the lowest since March 2009. Underemployment (U-6) came at 15.7%. Average hourly earnings unchanged (0.0%), below expectations at 0.2%. Manufacturing payrolls below expectations at +17K on expectations of 30K, previous revised lower to 32K. But the kicker, as usual, continues to be the Labor Force Participation rate, which continues to be at a 25 year low of 64.2%. The average workweek was at 34.3 hours, unchanged from before, and confirming that from the Fed's perspective there continues to be a lot of slack in the economy. 

 

 

 

Labor Force Participation Rate Remains At 25 Year Low 64.2%, Birth/Death Adjustment: +117,000

Submitted by Tyler Durden on 04/01/2011 08:42 -0400

March update: civilian noninstitutional population: 239.0 million; Civillian labor force: 153,406, Employed 139,864, Unemployet 13,542. Americans not in Labor Force: 85,594. Which means that the Labor Force Participation rate continues to be at a 25 year low of 64.2%. And Birth Death adds another 117,000. 

 

 

 

 

Goldman Raises Corn Price Forecast By 30% Just As Corn Surges To Highest Since 2008 Food Crisis

Submitted by Tyler Durden on 04/01/2011 13:05 -0400

Unprecedented strength in corn continues, with futures rising by 4.5% on Thursday, following strong demand for corn to make food and fuel. That demand has whittled down the corn supply, which was already at its lowest level in 15 years in the United States, the world's top exporter of the grain. Per Reuters: " Demand has been strong from the livestock and ethanol sectors, and from importing nations, including China which is believed to have purchased 1.25 million tonnes last week. This week's rally, triggered by the U.S. Agriculture Department's lower-than-anticipated quarterly U.S. corn stocks estimate on Thursday, rekindled worries about food price inflation. The near-term supply concerns have largely overshadowed USDA's forecast that U.S. farmers will plant the second-largest corn acreage since 1944." Yet whether due to fundamental reasons or pure momentum, Goldman has just added more fuel to the fire by raising its corn price forecast, after having lowered it a whopping 10 days ago, from $6.00/bu and $5.80/bu to $7.80/bu and $7.00/bu, for 6 and 12 months respectively. Of course, all those who followed Goldman's recent downgrade made some very inverse profits. So it may well be time to trade against the squid yet again. 

 

 

 

There Go All The Dollar's Gains

Submitted by Tyler Durden on 04/01/2011 13:28 -0400

Remember, way back when, when the dollar was supposedly on its way to rediscovering the little engine of growth that could just after the monthly NFP number came in just 30k below where it should be for the US to regain jobs list since December 2007, and the Fed was about to end debasing the US currency? Look again.