Chris Martenson: The screaming fundamentals for owning gold and silver

The Bernank’s Losing Control Again...and Again....and...

Posted by: Phoenix Capital Research

Post date: 06/29/2011 - 20:12

Bernake is slowly losing control of the system. In 2007, he was putting $30 billion into the system here and there. In 2008-2010, he upped the ante to $50 billion PER MONTH. QE 2 pushed the amount up to $100 Billion per month. And here he is, hinting at giving ANOTHER $300 BILLION when QE 2 ends!?!?

 

 

 

 

 

Bend Over Rural America...
President Obama's Executive Order 13575: Rural Council.







How the Hell can they give a Aa rating to a country that defaulted...and what does that tell you about all their ratings...
S&P to deeply cut U.S. ratings if debt payment missed

Pan Asia Gold Exchange welcomed for reducing influence of concentrated shorts

 

 

Christopher Barker: Lifting gold's veil of secrecy

Greece faces general strike, more cuts planned






'The German Government Will Pay Up'. 



Economist Carmen Reinhart Shares Her Grim Outlook for the U.S. Economy






Forbes: Monetary Watch June 2011, Inflation prospects post QE II



Economy Expected to Have Major Slide






National Debt Time Bomb Ticks Toward Crisis



Greek Army Threatens Military Coup; Sparks Fear of Military Uprisings and Civil War Breaking Out All Over Europe



 

Next Steps In The Greek Odyssey Through Banker Siren Song Hades 

The worst thing about following the neverending Greek bankruptcy saga is that while everyone knows that the can will be kicked down the road in one way or another until the population simply snaps and brings the bulldozers out to Syntagma square, the recent pick up in daily very irrelevant voting events (which are supposed to occur in the middle of the night but are delayed until noon Eastern), among many other irrelevant events, has made sleeping for US-based coverage nearly impossible. It has also caused a surge in noise-based newsflow that has absolutely no real relevance to anything except sending the EURUSD higher (more on the reason for that in the next post). And yes: today's vote was not the last one. Not even close. There is much more. But since we are sick of typing, here is SocGen explaining what the next steps in Greece's voyage throw the treacherous waters of the Southern District of New York are. 

 

 

 

 

It's Official: China Is The "Mystery" Daily Buyer Of Billions Of Euros 

Over the past two weeks, we have been suggesting, tongue in cheekily, that despite the relentless desires of everyone to sell the EUR, it has continued to drift higher, due to some inexplicable force with bottomless pockets, which, after some deductive logic, we assumed was China. It turns out we were correct. Naturally, figuring out what China does with its $3 trillion in foreign reserves is sometimes more complex than brain surgery (except what it does every time it sees a barrel of oil for sale: then it is pretty much guaranteed what it will do). But when it comes to preserving its 3 rounds of horrendous European down payments, it was pretty logical that China would do everything in its power to prevent a waterfall effect that would result in Europe imploding in a ball of illiquid singularity. The WSJ has confirmed that China's SAFE is actively doing all it can to transfer billions of its dollar-denominated holdings into euros. And while this does not mean the EUR is the new reserve currency, it certainly means that China has now become the deciding factor as to just who is (much to the chagrin of Markel, and delight of Geithner... for the time being).

Goldman Tells Soft Dollar Paying Lambs To Go Long AUDJPY With A 90 Target 

With Goldman having recently downgraded its outlook on China, it was only a matter of time before its FX team came out with a completely nonsensical and inverted call on the first derivative of a Chinese slowdown: the AUD. As of tonight Goldman is advising clients that its prop desk has a lot of AUDJPY to sell up until 90, and will buy everything below 84, in other words Thomas Stolper says to go tactically long the AUDJPY until 90, with an 84 stop. Of course, this makes all the sense in the world if China is slowing down. As a reminder, Stolper is the same guy whose call track record in 2010 was about 0 out of XXX. On account of it being a long day we refuse to even attempt to deduce how many level of reverse psychology are involved in this call. Needless to say, any time a hedge fund tells you to buy a bridge it probably has one to sell.