Massive Movements of Gold and Silver into and out of Registered comex vaults/ another raid

Harvey Organ, Monday , June 27, 2011

Massive Movements of Gold and Silver into and out of Registered comex vaults/ another raid

 

 

Manufacturing Surveys Imply US Economy Has Entered The Second Month Of A (Re)Recession 

Submitted by Tyler Durden on 06/27/2011 19:36 -0400

There may be those among the less than brainwashed lemmingerati out there who have noticed what, as we have pointed out for the past month when reporting on the various manufacturing and regional Fed indices, has been an epic collapse in the appropriate data series. As John Lohman so kindly demonstrates, the two month implosion has been beyond epic, and while certainly the biggest drop in the past decade, may also be the all time worst ever. To the point of this post: the last time we had an economic contraction of this magnitude was back in February of 2008, which was two months into the most acute recession in post-depression history. We are confident that once the groupthink wraps its head around the fact that the auto production based renaissance is not coming, and the economy officially tumbles into the commode of Ben Bernanke's fiat dungeon, the NBER will determine (with an appropriate 12-18 month delay), that the current recession started in April of 2011. 

 

 

 

 

 

Broke New Jersey Seeking $2.25 Billion Bridge Loan At Up To 9% From JPMorgan For Emergency Funding 

Is New Jersey the canary in Meredith Whitney's coalmine? According to the WSJ, New Jersey may be the first state to use the highly unconventional approach of using a commercial bank funded bridge loan as large as $2.25 billion to "plug a cash shortfall." The loan raised by Chris Christie's state, "would cover bills the state will need to pay as its new fiscal year begins July 1. Normally, states have some cash available as they finish one fiscal year and begin the next, while gearing up for a bond offering based on the new budget...Terms of the loan, also known as a credit line, haven't been finalized and negotiations could fall apart, according to the people familiar with the matter." And since this will likely be a benchmark loan whose term sheet will be promptly circulated to other cash-strapped states, it will be all the more important in defining such key term components as subordination, collateralization, and general interest rates. 

 

 

 

 

 

Guest Post: Don't Forget - The Deadline To Come Clean Is This Thursday 

Submitted by Tyler Durden on 06/27/2011 17:25 -0400

Are you a US taxpayer? Do you have at least $10,000 in overseas accounts? It’s time to put those annual disclosure statements in the mail… and quickly. Let me explain. Each year by June 30th, US taxpayers are obliged to report all foreign financial accounts in which they have either a beneficial interest or signature authority, so long as the aggregate value of all the accounts exceeds $10,000 at any time during the calendar year. The form is known as the FBAR. You must accurately disclose the highest value of each account during the previous calendar year on your FBAR… so make sure you go back through your bank and brokerage statements to check. Let me give you a few examples... 

 

 

 

 

Obama, Democrats, Republicans AND Bernanke All in a Bind – What they will do and when

Posted by: Bruce Krasting

Post date: 06/27/2011 - 13:49

Just a guess on the future.

 

 

 

 

Graham Summers’ Weekly Market Forecast (All Eyes on Greece Edition)

Posted by: Phoenix Capital Research

Post date: 06/27/2011 - 15:50

The world is awash in garbage debt. The only reason the banks and others haven’t taken the “hit” that they NEED to take is because they’ve bought out the politicians. Put another way, we are seeing clearly that the two primary principles of the West (capitalism and democracy) have both become jokes: alleged “capitalists” like the banks don’t ever actually see losses for mistakes and “democratically elected” leaders are in fact owned outright by the banks via donations/ bribes.

 

 

 

 

 

Resource Clips interviews GATA Chairman Bill Murphy

 

 

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