Tuesday, November 8, 2011

Last Man Standing Will be Gold


The CME/MF Global fiasco is really a game changing event in my opinion. It will certainly support gold as a safe haven investment.
CME’s oversight of its members is just as bad as the U.S. government’s oversight of its banking system.
Safe investment options are narrowing and we all know who the last man standing will be – gold.

David D

ECB's Weidmann Spoils The Party: Says Leveraging EFSF Violation Of EU Treaty, Warns Of Hyperinflation

Trust the Germans in the ECB (those who have not yet resigned that is) in this case Jesn Weidmann, to come in and spoil the party:
  • Weidmann, speaking in Berlin, says hyperinflation shows why monetizing debt wrong
  • Prohibition on monetary financing an important achievement.
  • Euro treaty rightly forbids monetary financing
  • Stable prices should be key goal of ECB
  • Leveraging EFSF with currency reserves prohibited
  • Says monetary analysis may gain importance at ECB
And for all our MMT friends:
  • "One of the severest forms of monetary policy being roped in for fiscal purposes is monetary financing, in colloquial terms also known as the financing of public debt via the money printing press:” Weidmann
  • Pohibition of monetary financing in the euro area “is one of the most important achievements in central banking” and "specifically for Germany, it is also a key lesson from the experience of hyperinflation after World War I"

Italian bonds surpass 6.6%/Italian 2 yr yields approach 10 yr yield as yield curve inverts/gold and silver advance

Harvey Organ at Harvey Organ's - The Daily Gold and Silver Report - 29 minutes ago
Good evening Ladies and Gentlemen: The price of gold rose to $1790.30 for a gain of 35 dollars.  The price of silver advanced by 74 cents to close at $34.81.  This is comex closing time. In the access market right now at 5 pm est: gold:  $1795.60 silver: $ 34.98 Today we witnessed the Italian 10 yr bonds yield 6.6%. I cannot see how Italy will get out of their mess as in early December they

Euro Gold within 70 euros of its all time high

Trader Dan at Trader Dan's Market Views - 5 hours ago
Gold when priced in terms of the Euro is showing great strength continuing to track higher ever since it found buying support at the 61.8% Fibonacci Retracement level shown on the chart. It has now managed to push through the last Fibonacci level of note and based on the norm for most TA, it should now make a push back to retest the recent all time high, which is a mere 70 Euros above its current levels. It is very evident, that many European investors and average citizens are very far from being comfortable with the so-called "solution" that has been hobbled together by the Europea... more » 

Gold pushes to $1800

Trader Dan at Trader Dan's Market Views - 5 hours ago
Gold is putting in a very strong showing in today's session as it appears a large influx of new speculative money has found its way into this market. Investors are moving back into both gold and Treasuries as safe havens with gold being the favorite of the two - a nice development to say the least. Buttressing gold's fortunes us a good showing by silver and a particularly good showing in the mining shares which are surging. The $1800 level is a psychological resistance level because of the handle change from "17" to "18". If it can clear this level and keep oscillating above it, fu... more » 


Dave in Denver at The Golden Truth - 6 hours ago
Sorry, I hate to venture into the seedy world of "he said/she said," but where there's smoke, there's fire and with Hermain Cain there's now four sources of smoke. Here's the fourth one to come forward: "After losing her job, Bialek allegedly turned to Cain for help. Allred said on Monday, 'Mr. Cain instead decided to try to provide her with his idea of a stimulus package.'" Here's the LINK I have to say that I'm not disapointed to see Cain go down in the flames like this because he's little more than a tool of the elitist bankers and also a neocon. However, this is the BEST en... more » 

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