ABC Reports Russian Troops Have Arrived In Syria, Russia Denies
Earlier today, Al Arabiya made waves in the energy market following reports that a Russian ship carrying special forces had arrived in the Syrian port of Tartus, previously demonstrated here to be a key strategic asset in the Mediterranean. This news was promptly denied by RIA, which said that "there were no Russian military ships off Syria coast" and that the Iman ship is a tanker which is merely conducting resource support functions. Furthermore, according to the Russian Ministry of Defense, the crew of Iman consists solely of "civilian personnel, which is being guarded." That may or may not be the case, but has not stopped ABC from blasting, minutes ago, a headline that "Russian anti-terror troops arrive in Syria" a development that a "United Nations Security Council source told ABC News was "a bomb" certain to have serious repercussions." Which begs the question: is everyone now dead set on having war in Syria, and by proxy, Iran?
Apple Closes Over $600 As Trading Volume Collapses Again
"Whocouldanode?"
that Apple would do something like pay a de minimus dividend and begin
a modest buyback program? Indeed, initial reactions for the stock
seemed to be 'sell the news' but of course, it wouldn't be a day ending
in 'y' if Apple didn't close green and sure enough, with seconds to
spare, Apple managed to close over $600 for the first time. BofA, not so much.
After pinging $10 (a healthy double of recent lows), chatter of a
secondary began the process of 'normalizing' its recent behavior (the
stock is still up 17% post JPM-divi/Stress test news, a whopping 10%
better than any of its peers in that 4 day period). The leak in
financials dragged on the S&P which limped back lower to close
almost perfectly at its VWAP as NYSE trading volumes (after almost record-breaking high levels on Friday OPEX hedge removal day) dropped back to near their lows . Credit outperformed equities today but its a very 'technical' day for credit in general
with the CDS/index rolls tomorrow (meaning the major credit indices
will move to new maturities and new components) though HYG staggered
notably early in the day. USD and Treasury weakness were the headlines of the day (aside from AAPL of course - which apparently has a great new screen) which of course helped commodities rally with high-beta Silver the best on the day +1.2% from Friday and WTI breaking $108 as Gold limped higher (tortoise-like) over $1660 at the end. VIX rose once again
and the term structure flattened a little but once again post-OPEX and
futures roll, there are some more difficult apples-to-camels
comparisons there. Finally we note average trade size in ES today was its largest since 7/1/11.gold and silver rise/Auction on Greek bonds showing 78.5% loss/Belgium at 140% debt/GDP
Harvey Organ at Harvey Organ's - The Daily Gold and Silver Report - 5 minutes ago
Good
evening Ladies and Gentlemen:
Gold closed today up by $11.30 to $1667.10. Silver had a much better
day rising by 35 cents to $32.93.
Gold shares languished again today so expect the bankers to hit again
tomorrow. I strongly believe that Jim Sinclair is right in that the USA
is using (selling) gold belonging to Germany and Switzerland. The
raids have been too frequent and you can bet
Opening the Fraud Gates: New JOBS Bill 'A Colossal Mistake of Historic Proportions'
Based On This Chart, Can Saudi Arabia Bail Out The US Motorist From $5 Gas?
No conclusions here, just a simple chart showing monthly Saudi Arabia crude oil production based on OPEC data, which has been rangebound in a tight 8,000 - 9750 tb/d range, superimposed with Brent prices over the past decade. The last time Brent soared to record highs back in the summer of 2008, Saudi production peaked at 9,522 tb/d (despite similar promises for spikes in crude production and exports). During last spring's spike, Saudi produced around 9,000 tb/d. In the past two months, production has been at record highs, even as oil keeps setting new highs, entirely due to liquidity, but not because speculators are evil incarnate as Nancy Pelosi will want her brainwashed fans to believe, but simply because for the most part they are Primary Dealers, and other entities attached at the hip to the Fed, who serve as Ben Bernanke's transmission mechanism of record liquidity being dumped into the system. Our advice: if anyone is hoping that Saudi Arabia can pump the 12,500 tb/d needed if Iran truly goes offline, buy a bike, as failure from Saudi to satisfy lofty demands will promptly send unleaded to new all time highs. Couple that with the Treasury debt ceiling fiasco in 5-6 months, and those Obama InTrade reelection contracts may seem a tad rich.
To Bail Or Not To Bail: A Simple Question Of Math; And Why Taxpayers Will Be On The Hook Until The End
When it comes to rescuing an insolvent country, continent, or entire financial system, at the end of the day it is a simple question of maths: is "doing it" cheaper than the alternative. Recall that the IIF was heaping fire and brimstone on bondholders and threatening the world with $1+ trillion in losses if bondholders did not comply. That nobody has any clue just what said costs, and opportunity costs, are, does not matter: the status quo must be preserved at all costs. And the status quo is one of avoiding private losses at the expense of taxpayer capital. Enter Credit Suisse with its back of the envelope analysis of the cost of not bailing out Europe's insolvent PIIGS, and the (taxpayer) cost to "save" them.Infographic: Reevaluating The Costs And Benefits Of (Debt Bubble-Funded) Higher Education
While the college debt bubble has been extensively discussed on Zero Hedge (here, here and here)
and elsewhere, the reality is that without college student loans, as
cheap as they may be, the vast majority of students would not be able to
afford going to college, untenable (and non-dischargeable)
post-graduation leverage be damned. Please ignore for a second the
reflexivity of this symbiotic relationship - that college is so
expensive only because college debt is so easily obtainable (and as noted here,
between car loans and student debt, is the primary source of consumer
debt in the past year)... That said there are two sides to every story:
on one hand students are conditioned to believe that they need college
to survive in the current world (with statistics such as these floating
out there: drop outs since 2002 have "cost" the nation $3.8 billion in
lost income and over $700 million in lost taxes), while on the other
hand, the burden of a massive debt load, even if with manageable
interest expenses, leave the student burdened with principal
amortization which alone has a crippling effect on the individual
psychology. Is it time to reevaluate higher education? Look at this
infographic from OnlineCollege, which summarizes the side effects of soaring college costs, and decide for yourselves. Marc Faber: Why is China Buying Gold
by Avi Gilburt, SeekingAlpha.com:
Since
I began writing for Seeking Alpha, we have had quite a nice and
successful run in the metal markets. After publishing an article several
months ago calling the bottom in the gold market, our latest market
call was published on February 26, calling for a pullback in the metals,
specifically written about silver. Specifically, I wrote that “I am
expecting the silver market to top out over the next few days within the
$36 region.”
In fact, several days later, on February 29, the precious metals entered into what some termed a “flash crash” of its own, and proceeded to begin the correction that was warned about several days earlier. Even before the correction began, we provided guidance on Seeking Alpha that the correction will potentially target the 30-32 region in the silver futures, and to my clients we also targeted the 158 GLD region.
Read More @ SeekingAlpha.com
Since
I began writing for Seeking Alpha, we have had quite a nice and
successful run in the metal markets. After publishing an article several
months ago calling the bottom in the gold market, our latest market
call was published on February 26, calling for a pullback in the metals,
specifically written about silver. Specifically, I wrote that “I am
expecting the silver market to top out over the next few days within the
$36 region.”In fact, several days later, on February 29, the precious metals entered into what some termed a “flash crash” of its own, and proceeded to begin the correction that was warned about several days earlier. Even before the correction began, we provided guidance on Seeking Alpha that the correction will potentially target the 30-32 region in the silver futures, and to my clients we also targeted the 158 GLD region.
Read More @ SeekingAlpha.com
by Jeff Clark, Casey Research:
We’ve
read mixed reports about how lofty gold and silver prices are affecting
demand in India. One month we’re told demand is up, and the next it’s
supposedly down. I’m not suggesting that official reports are
inaccurate, but it is admittedly confusing and doesn’t help us
understand the real trend in the country.
Why should we care about the gold market in India? Well, let’s face it; the nation is one of the biggest consumers of the metal, a major driver that can give us hints about demand and investment trends, along with what to perhaps eventually expect here in North America. But reading third-party reports about India is very different than getting information firsthand from a credible source in the country. I wanted to get to the bottom of what’s really going on in India by talking to a reputable bullion dealer who could give me the inside scoop, an up-to-the-moment dispatch from the front lines, as it were. So I did just that.
Read More @ CaseyResearch.com
We’ve
read mixed reports about how lofty gold and silver prices are affecting
demand in India. One month we’re told demand is up, and the next it’s
supposedly down. I’m not suggesting that official reports are
inaccurate, but it is admittedly confusing and doesn’t help us
understand the real trend in the country.Why should we care about the gold market in India? Well, let’s face it; the nation is one of the biggest consumers of the metal, a major driver that can give us hints about demand and investment trends, along with what to perhaps eventually expect here in North America. But reading third-party reports about India is very different than getting information firsthand from a credible source in the country. I wanted to get to the bottom of what’s really going on in India by talking to a reputable bullion dealer who could give me the inside scoop, an up-to-the-moment dispatch from the front lines, as it were. So I did just that.
Read More @ CaseyResearch.com
from Reuters.com:
(Reuters) – China’s yuan could become a reserve currency in future if the country undertakes further economic reform, International Monetary Fund managing director, Christine Lagarde, said in a speech on Sunday.
The IMF chief, speaking to a gathering of leading Chinese policymakers and global business leaders, added that China needed a roadmap for a stronger, more flexible exchange rate system.
China operates a closed capital account system and its yuan currency is tightly controlled, although Beijing has said it wants to increase the international use of the yuan to settle cross border trade and has undertaken a series of reforms in recent years to that end.
Original Source @ Reuters.com
(Reuters) – China’s yuan could become a reserve currency in future if the country undertakes further economic reform, International Monetary Fund managing director, Christine Lagarde, said in a speech on Sunday.
The IMF chief, speaking to a gathering of leading Chinese policymakers and global business leaders, added that China needed a roadmap for a stronger, more flexible exchange rate system.
China operates a closed capital account system and its yuan currency is tightly controlled, although Beijing has said it wants to increase the international use of the yuan to settle cross border trade and has undertaken a series of reforms in recent years to that end.
Original Source @ Reuters.com
by Jeffrey Tucker, Whiskey and Gun Powder:
Ah, what a weekend, with blue skies, singing birds, buddy cherry blossoms, and the government’s announcement that it has totalitarian control over everything. Wait, what was that last thing? It was an Executive Order released late Friday that no one on the planet seemed to notice until about 30 hours later. It is unnumbered but called “National Defense Resources Preparedness.”
Let’s call it NDRP. The first I heard of it was Sunday morning. Something called The Examiner had a write up about this order in which which President Obama would, in the event of an emergency or even in “peacetime,” assume control of all energy, food, water, people — the whole of the material and natural world as we know it! — and claim the right to requisition professions to serve the state.
Read More @ WhiskeyAndGunPowder.com
Ah, what a weekend, with blue skies, singing birds, buddy cherry blossoms, and the government’s announcement that it has totalitarian control over everything. Wait, what was that last thing? It was an Executive Order released late Friday that no one on the planet seemed to notice until about 30 hours later. It is unnumbered but called “National Defense Resources Preparedness.”
Let’s call it NDRP. The first I heard of it was Sunday morning. Something called The Examiner had a write up about this order in which which President Obama would, in the event of an emergency or even in “peacetime,” assume control of all energy, food, water, people — the whole of the material and natural world as we know it! — and claim the right to requisition professions to serve the state.
Read More @ WhiskeyAndGunPowder.com
from TFMetalsReport.com:
I thought I would start a new thread with some fresh charts. Today’s action in the metals was helpful but it appears that we still have some work to do before we can get excited about a rebound.
First, if it seemed that the metals were sluggish all day, it’s because they were. Remember that, post-MFG, much of the speculative buying has been forced out of the Comex. So, for rallies to develop, we need some combination of these three things to happen:
I thought I would start a new thread with some fresh charts. Today’s action in the metals was helpful but it appears that we still have some work to do before we can get excited about a rebound.
First, if it seemed that the metals were sluggish all day, it’s because they were. Remember that, post-MFG, much of the speculative buying has been forced out of the Comex. So, for rallies to develop, we need some combination of these three things to happen:
- Cartel short-covering.
- Cartel new long establishment.
- Large spec (hedgie algo WOPR) buying.
from DollarVigilante.com:
“First they came for the communists, and I didn’t speak out because I wasn’t a communist.
Then they came for the trade unionists, and I didn’t speak out because I wasn’t a trade unionist.
Then they came for the Jews, and I didn’t speak out because I wasn’t a Jew.
Then they came for me and there was no one left to speak out for me.” – Martin Niemöller (1892–1984)
Throughout my youth I remember wondering how what happened in Nazi Germany could have occurred and how so many otherwise good people could be fooled into going along with such an obviously evil system. I always wished I could go back in time to understand it.
Well, my wish has come true but unfortunately instead of going back in time the exact same thing is happening today in the US, Europe and many other places. If you cannot see the obvious signs of tyranny being constructed all around you at this point then you are purposely trying not to see it.
Read More @ DollarVigilante.com
“First they came for the communists, and I didn’t speak out because I wasn’t a communist.
Then they came for the trade unionists, and I didn’t speak out because I wasn’t a trade unionist.
Then they came for the Jews, and I didn’t speak out because I wasn’t a Jew.
Then they came for me and there was no one left to speak out for me.” – Martin Niemöller (1892–1984)
Throughout my youth I remember wondering how what happened in Nazi Germany could have occurred and how so many otherwise good people could be fooled into going along with such an obviously evil system. I always wished I could go back in time to understand it.
Well, my wish has come true but unfortunately instead of going back in time the exact same thing is happening today in the US, Europe and many other places. If you cannot see the obvious signs of tyranny being constructed all around you at this point then you are purposely trying not to see it.
Read More @ DollarVigilante.com
CNBC’s Maria Bartiromo speaks to Texas Congressman and Republican Presidential candidate Ron Paul about his plans if he fails to win any single state.
Doug Casey: This Week In Money – 3/3/2012
Arrested Ron Paul Supporter Speaks – Brent Stafford Interview
from GoldSilver.com:
Brazil’s finance minister, Guido Mantega, has not been shy in printing their currency, the real, in another Fed and Bank of Japan styled attempt
at suppressing its value in relation to other currencies. Mantega says,
“We are not going to just sit by and watch while other countries
devalue their currencies to give them a competitive advantage.” Mantega
deliberately distracts from economic truth; currency printing is a
policy which is merely the method by which governments finance that
which they are unable to tax. He was made famous in financial news in
2010, by announcing publicly that the currency wars had begun and that
Brazil would take advantage of the race to the bottom in order to reap
the largely silent benefits to the few of such a toxic policy for the
many. As you print currency, those who receive the new cash receive the
benefit at the expense of the greater population. The only way to maintain one’s standard of living, is to save in a medium which the supply of can not be arbitrarily increased.
Original Source @ GoldSilver.com
Brazil’s finance minister, Guido Mantega, has not been shy in printing their currency, the real, in another Fed and Bank of Japan styled attempt
at suppressing its value in relation to other currencies. Mantega says,
“We are not going to just sit by and watch while other countries
devalue their currencies to give them a competitive advantage.” Mantega
deliberately distracts from economic truth; currency printing is a
policy which is merely the method by which governments finance that
which they are unable to tax. He was made famous in financial news in
2010, by announcing publicly that the currency wars had begun and that
Brazil would take advantage of the race to the bottom in order to reap
the largely silent benefits to the few of such a toxic policy for the
many. As you print currency, those who receive the new cash receive the
benefit at the expense of the greater population. The only way to maintain one’s standard of living, is to save in a medium which the supply of can not be arbitrarily increased.Original Source @ GoldSilver.com
The
Constitutionality of the Patriot Act has gotten to the point where two
US Senators – Ron Wyden of Oregon and Mark Udall from Colorado have
written a letter to Attorney General Eric Holder, asking him to
reconsider some of the ways the Patriot Act has been used throughout the
years and how it will be used in the future. They say, there is a
significant gap between what most Americans think the law allows and
what the government secretly claims the law allows. David Seaman,
journalist and host of the DL show talks to RT’s Kristine Frazao on the
matter.
from King World News:
With
many global investors still concerned about the price of gold and
silver, today King World News interviewed the “London Trader” to get his
take on these markets. Here is what the source had to say: “Every time
they have conducted raids in the paper market they lose more and more
physical gold and we work from a higher level in terms of price. Right
now we have washed out an awful lot of the hot, weak money out of the
gold market.”
The London Trader continues: Read More @ KingWorldNews.com
With
many global investors still concerned about the price of gold and
silver, today King World News interviewed the “London Trader” to get his
take on these markets. Here is what the source had to say: “Every time
they have conducted raids in the paper market they lose more and more
physical gold and we work from a higher level in terms of price. Right
now we have washed out an awful lot of the hot, weak money out of the
gold market.”The London Trader continues: Read More @ KingWorldNews.com
CIA Spying On You Through Your Refrigerator (with Judge Andrew Napolitano)
from King World News:
With
gold and silver holding firm, despite bearish news, today King World
News interviewed James Turk out of Spain. Turk told King World News the
critical levels to look for in both gold and silver. But first, here
is what Turk had to say about today’s action: “The precious metals
ended last week on the ropes, Eric. The news at the open this morning
here in Europe was bleak because the Indian government announced a
doubling of the import tax on gold. Given that India is world’s the
largest purchaser of gold, this news was bearish.”
James Turk continues: Read More @ KingWorldNews.com
I hope your taking advantage of our new sponsors, they were chosen to help you prepare for the coming global financial collapse...If you wait until TSHTF (the shi! hits the fan) it will be too late...
Please consider making a small donation, to help cover some of the labor and costs to run this blog.
With
gold and silver holding firm, despite bearish news, today King World
News interviewed James Turk out of Spain. Turk told King World News the
critical levels to look for in both gold and silver. But first, here
is what Turk had to say about today’s action: “The precious metals
ended last week on the ropes, Eric. The news at the open this morning
here in Europe was bleak because the Indian government announced a
doubling of the import tax on gold. Given that India is world’s the
largest purchaser of gold, this news was bearish.”James Turk continues: Read More @ KingWorldNews.com
Proof Sheriff Arpaio’s Investigation Is Dead-On
I hope your taking advantage of our new sponsors, they were chosen to help you prepare for the coming global financial collapse...If you wait until TSHTF (the shi! hits the fan) it will be too late...
Please consider making a small donation, to help cover some of the labor and costs to run this blog.
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