Desperate Swiss eye euro peg to repel safe-haven flood
Submitted by cpowell on Thu, 2011-08-11 20:30. Section: Daily Dispatches
And
when the Swiss franc is closed as a safe haven amid the worldwide storm
of currency devaluation, what's left as a safe haven but gold?
* * *By Ambrose Evans-Pritchard
The Telegraph, London
Thursday, August 11, 2011
http://www.telegraph.co.uk/finance/financialcrisis/8696289/Desperate-Swi.
Harvey Organ, Thursday, August 11, 2011
Another Gold Raid/Silver withstands attack/Europe attempts to ban short sales in banks/
Harvey Organ's - The Daily Gold and Silver Report - 12 minutes ago
Good
evening Ladies and Gentlemen:
Gold finished the comex session at $1764.10 down by $12.90 on the day.
The bankers called on their criminal friends, the owners of the Comex
to initiate a huge margin increase on gold. Even though the
banker-shorts are hurt just as much as the longs, the bankers just
borrow money from the Fed at zero interest and keep it off balance sheet
so nobody sees it. Infinite money will support gold, Embry tells King World News
Swiss to Join the EU – NOT!
08/11/2011 - 18:51
Dear CIGAs,
Now that we have reached $1800 gold, what should you do?
1. Those holding gold to hedge the systemic risks of the Western Financial world simply stay in your position.
2. Traders lighten up your positions as gold approaches the next two Angels.
3. No market fails to have reactions at some point.
4. Reactions in this market will be deep, but brief when they occur.
5. The undervaluation of good gold shares has passed manic.
6. Utilization of some of your gold profits into good gold shares is pure logic.
Jim Sinclair’s Commentary
The following is courtesy of CIGA EP.
The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.
– Earnest Hemingway
‘Made in USA’ Replaced With ‘Anywhere But’
CIGA Eric
Acceleration in the import to export ratio reflects not only the wide-spread replacement of “Made in USA” with “Anywhere But” labels but also America’s ability to borrow and consume. Private consumption which accounts for more than 70% of GDP has become the key economic driver for the United States. Unfortunately, American’s ability to consume has been grinding sideways since 2009. The yellow box illustrates yet another sideways, grinding-style setup. There’s one big exception though. A sovereign debt crisis accompanies this one. This suggests that the secular trend, largely up since 1945, could dramatically change as global economy is rebalanced by market forces.
Imports to Exports Ratio (Census Basis)
Headline: US trade deficit widens in June to $53.1 billion
American producers sold fewer industrial engines, electric generators and farm products to the rest of the world in June, pushing the trade deficit to the highest level since 2008 and dealing another blow to an already struggling economy.
The deficit rose 4.4 percent to $53.1 billion in June, the largest imbalance since October 2008, the Commerce Department reported Thursday. Imports fell 0.8 percent to $223.9 billion as crude oil prices fell for the first time in nine months. Exports dropped 2.3 percent to $170.9 billion, the biggest decline in more than two years.
The drop in exports, the second in a row, was a blow to hopes that rising overseas demand will boost the fortunes of American manufacturers in the face of a slump in spending by U.S. consumers. The concern now is that a global slowdown will hobble a U.S. economy that is in danger of stalling out.
Source: finance.yahoo.com
More…
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
No comments:
Post a Comment