Gold and silver withstand raid, rising to $1794.10/Silver rises to $40.95/ Bernanke does nothing at Jackson Hole

9,173 Ounces Of Gold Transferred From HSBC To JP Morgan Gold Vaults Overnight

While we have no information as to who or why (we do know when and where) engaged in a transfer of 9,173 ounces of eligible gold (for a total of about $16.5 million) from HSBC's gold depository into that of JP Morgan, according to today's closing CME Group Metal Depository Statistics, we can merely point out that it happened. One back of the envelope hypothesis: we have counterparty risk at the bank level (which is currently manifesting itself at both the CDS, the stock price, and the Li(E)bor level; are we going to start seeing counterparty concerns at the gold depository level next? What next: a run on the [    ] gold depository in a self-fulfilling prophecy? The second hypothesis is by now well known- JPM needs all the gold it can get. But a paltry 9,173 ounces?





Harvey Organ, Saturday, August 27, 2011

Gold and silver withstand raid, rising to $1794.10/Silver rises to $40.95/ Bernanke does nothing at Jackson Hole

Become a Chinese Farmer, That's What You Should Do.

Admin at Jim Rogers Blog - 14 minutes ago

At some times in history, the financials types have been in charge; at other times in history the people who produced real goods have been in charge. It's the way the world has always worked. The key of course is to figure out what's coming next and go there. Become a Chinese farmer, that's what you should do. - *in BBC News* *Related: ELEMENTS Rogers Intl Commodity Index - Agriculture Total Return ETN (NYSE:RJA), PowerShares DB Agriculture Fund (NYSE:DBA) * *Jim Rogers is an author, financial commentator and successful international investor. He has been frequently featured in Time... more »

My Favorite Investment Remains Gold

Admin at Marc Faber Blog - 1 hour ago

So, you are probably better off in equities than in bonds. My favorite investment remains gold. As it happens, the gold price is coming down, and I hope it will drop $100 or $200. Not necessarily a prediction. I think we will go down in a correction because there has been too much enthusiasm recently. - *in Beacon Equity* *Related: SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), Goldcorp (GG)* *Marc Faber is an international investor known for his uncanny predictions of the stock market and futures markets around the world.* more »

Breaking the Chain of Control In Gold

Eric De Groot at Eric De Groot - 1 hour ago

The trend controllers have been knocked to the ropes by overwhelming market forces in the leveraged paper markets. The tactic of selling (shorting) advances and buying (covering) declines to control trend has unexpectedly reversed. This suggests the chains of control have been broken in gold. If this trend continues, August 2011 could very well be viewed as an important moment in the history... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] more »

Asia Is Where The Energy And The Dynamism Are

Admin at Jim Rogers Blog - 3 hours ago

The largest creditor nations in the world now, are China, Korea, Japan, Taiwan, Hong Kong, Singapore. Those are all Asian countries. This is where the assets are. This is where the energy is, the dynamism is. You know who the debtors are and where they are. - *in BBC News* *Related asian ETFs trading in the US markets: iShares MSCI Singapore Index Fund (ETF) (NYSE:EWS) iShares MSCI Taiwan Index (ETF) (NYSE:EWT) iShares MSCI South Korea Index Fund(ETF) (NYSE:EWY), iShares FTSE/Xinhua China 25 Index (ETF) (NYSE:FXI) iShares MSCI Hong Kong Index Fund (ETF) (NYSE:EWH) * *Jim Rogers is a... more »

The 21st Century Is The Century Of Asia

Admin at Jim Rogers Blog - 3 hours ago

The 19th century was the century of the UK, the 20th century was the century of the US, the 21st century is the century of China, of Asia. *Jim Rogers is an author, financial commentator and successful international investor. He has been frequently featured in Time, The New York Times, Barron’s, Forbes, Fortune, The Wall Street Journal, The Financial Times and is a regular guest on Bloomberg and CNBC.*

Guest Post: Bernanke In A Box

Bernanke said QE 3.0, without really saying it. The markets, seeing the enlarged schedule for the September meeting and interpreting the likelihood of heavy discussions, have gotten the message. Stocks threw off the daily mortal struggle that is life as Bank of America and bid for the QE future that is now September (good riddance to August apparently). Gold prices followed on those expectations of a resumption to the willful and wanton dollar destruction that QE purely represents. If the Chairman can influence a major market rally without ever having to face the growing dissent within the FOMC ranks, then his speech has proven to be a stroke of genius. That is the essence of rational expectations, making others believe you have magical powers so that they do your bidding without any actual work or direct engagement on your part. But there is a huge downside to waiting, and Bernanke knows it.  The financial crisis grows while the economy is sliding further into contraction.  Time is not on his side. So why does he wait? Simple, Bernanke and QE is in a box – conditions currently in the wholesale money markets, especially the repo market, will not suffer more QE.  As the unsecured Fed funds and eurodollar markets have effectively frozen for banks outside the primary dealer network, wholesale funding has been left to repos.  However, there is already a shortage of treasury bills, the prime, vital collateral of nearly all post-2008 repo funding arrangements.






 Maps Du Jour: Food Inflation Riots and The Libyan Politics

Posted by: EconMatters

Post date: 08/26/2011 - 17:00

Two interactive maps, the same disturbing message.

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