John Williams on the Retail Sales Number - A Brief Interlude on Hyperinflation and Deflation
by Ambrose Evans-Pritchard, Telegraph.co.uk:
Data collected by Simon Ward at Henderson Global Investors shows that M1 money supply growth in the big G7 economies and leading E7 emerging powers buckled over the winter.
The gauge – known as six-month real narrow money – peaked at 5.1pc in November. It dropped to 3.6pc in January, and to 2.1pc in February.
This is comparable to falls seen in mid-2008 in the months leading up to the Great Recession, and which caught central banks so badly off guard.
“The speed of the drop-off is worrying. This acts with a six months lag time so we can expect global growth to peak in May. There may be a sharp slowdown in the second half,” said Mr Ward.
Read More @ Telegraph.co.uk
by Julian D. W. Phillips, GoldSeek.com:
The last few weeks have seen a larger consolidation pattern forming, pointing to a much bigger consolidating pattern that implies far more than just a short-term trading move just ahead of us. The forces that drive both supply and demand in the very short-term are just about in balance, so it is appropriate that we look at these forces to see how they influence gold prices in the short, medium, and long term.
The forces that influence the gold and silver markets are very different from those that affect industrial and base metals. They go far beyond simple prices and the technical picture of demand and supply. They encompass trust, confidence, dependability, and protection that have little or nothing to do with gold’s uses. Warren Buffett is quite right about the “uselessness” of gold. But he has missed the point as to its value. Such a master of management and investment must find such an unmanageable metal virtually useless to him. But therein lays its value as an investment.
Read More @ GoldSeek.com
from GoldSilver.com:
According to Reuters, commercial lenders purchased $78.2 billion in bonds within just a two month period this year. January and February outdid all of 2011, where $62.6 billion worth were purchased.
So far in fiscal year 2012 (ending September 30), the U.S. deficit is an accumulated $580 billion, while we have issued $727 billion in debt over the same period.
With banks buying at 7x the rate at which they did a year prior over the first two months, it is clear there is no one in the world (except the Fed) with enough currency saved to fund the expansive deficit—and the currency the Fed has would need to be created out of thin air.
Read More @ GoldSilver.com
by Gonzalo Lira:
On May 6, France is holding its second round of Presidential elections, where the Socialist François Hollande is fully expected to win.
I’m pretty sure two things will happen immediately following the election: The first is, Carla Bruni will leave Nicolas Sarkozy (because everyone knows that a professional courtesan never stays when the going gets tough for her patron).
The second thing that will happen following the election of Hollande is that the euro will begin to fall—amid persistent, insistent calls by the new French President for Europe to spend its way out of the hole it’s in.
Read More @ GonzaloLira.Blogspot.com
According to Reuters, commercial lenders purchased $78.2 billion in bonds within just a two month period this year. January and February outdid all of 2011, where $62.6 billion worth were purchased.
So far in fiscal year 2012 (ending September 30), the U.S. deficit is an accumulated $580 billion, while we have issued $727 billion in debt over the same period.
With banks buying at 7x the rate at which they did a year prior over the first two months, it is clear there is no one in the world (except the Fed) with enough currency saved to fund the expansive deficit—and the currency the Fed has would need to be created out of thin air.
Read More @ GoldSilver.com
On May 6, France is holding its second round of Presidential elections, where the Socialist François Hollande is fully expected to win.
I’m pretty sure two things will happen immediately following the election: The first is, Carla Bruni will leave Nicolas Sarkozy (because everyone knows that a professional courtesan never stays when the going gets tough for her patron).
The second thing that will happen following the election of Hollande is that the euro will begin to fall—amid persistent, insistent calls by the new French President for Europe to spend its way out of the hole it’s in.
Read More @ GonzaloLira.Blogspot.com
Ron Paul’s Fight to the Finish
S&P breaks out to new 52 week high while Bonds plummet
Trader Dan at Trader Dan's Market Views - 17 minutes ago
Last week I posted a chart of the S&P 500 wondering if a top was in this
market. Apparently not, said the bulls, who have proceeded to take this
market higher for the last 5 days in a row. Today they took the price to a
new 52 week high. Isn't it amazing what a "bit" of Central Bank supplied
liquidity can get ya?
Unfortunately for the Fed, bond traders are not being particularly
cooperative today as they are slamming the long bond lower, particularly as
they digest the day's FOMC statement which repeated, once again, the
committee's intent on keeping short term rates extremely low u... more »
“The Black Swan” Author Nassim Taleb Cheers Ron Paul’s Economic Platform On CNBC
With
continued volatility in gold, silver and oil, today King World News
interviewed Rick Rule, CEO of Sprott USA. Rule told KWN the world is
out of $60 oil and maybe out of $70 oil. He also said the circumstances
in Greece bring up the issue of moral hazard and the situation is
extremely dangerous. Here is what Rule had to say: “I don’t know if it
spins out of control, but it’s clearly fraud. Greece had an engineered
default, which they chose not to call a default. This is just plain
fraud and if you and I tried to do this, in the context of a private
issue, we would go to jail. The fact that people who operate under a
sovereign do it is very strange and very dangerous.”
Rick Rule continues: Read More @ KingWorldNews.com
(Ed note...If you have this much Gold...or Silver...Please consider supporting our efforts to keep you informed...)
Please consider making a small donation, to help cover some of the labor and costs to run this blog.
Rick Rule continues: Read More @ KingWorldNews.com
Court hearing scheduled for next week in ongoing effort by privacy group to expose details of working relationship
by Steve Watson, InfoWars.com
The Department of Justice will ask a federal court to uphold the secrecy that surrounds the working relationship between Google and the National Security Agency in a hearing that is scheduled for next week.
Privacy watchdog group The Electronic Privacy Information Center (EPIC) is returning to court once again in an effort to disclose more information regarding the widely publicized partnership between the spy agency and the search engine giant.
EPIC is suing to obtain documents that detail the relationship, and will appeal against the NSA’s so-called “Glomar” response, claiming it “could neither confirm nor deny” the existence of any information about its relations with Google, because “such a response would reveal information about NSA’s functions and activities.”
Read More @ InfoWars.com
by Steve Watson, InfoWars.com
The Department of Justice will ask a federal court to uphold the secrecy that surrounds the working relationship between Google and the National Security Agency in a hearing that is scheduled for next week.
Privacy watchdog group The Electronic Privacy Information Center (EPIC) is returning to court once again in an effort to disclose more information regarding the widely publicized partnership between the spy agency and the search engine giant.
EPIC is suing to obtain documents that detail the relationship, and will appeal against the NSA’s so-called “Glomar” response, claiming it “could neither confirm nor deny” the existence of any information about its relations with Google, because “such a response would reveal information about NSA’s functions and activities.”
Read More @ InfoWars.com
by Robert Hallberg, SeekingAlpha.com:
On
February 29, we witnessed a smash in the price of gold and silver,
which appeared to be another raid in the precious metals market. Gold
and silver had started to generate some momentum, and both metals were
breaking out of their trading range.
Then, massive selling started to take hold at exactly 10:00 am EST, coinciding with the Fed’s release of its monetary policy statement to the House Financial Services Committee. A whopping 225 million ounces of paper silver was dumped into the market within a 30-minute timeframe. To get an idea for the amount of paper silver being sold, 225 million ounces represents almost one third of annual silver production.
Read More @ SeekingAlpha.com
On
February 29, we witnessed a smash in the price of gold and silver,
which appeared to be another raid in the precious metals market. Gold
and silver had started to generate some momentum, and both metals were
breaking out of their trading range.Then, massive selling started to take hold at exactly 10:00 am EST, coinciding with the Fed’s release of its monetary policy statement to the House Financial Services Committee. A whopping 225 million ounces of paper silver was dumped into the market within a 30-minute timeframe. To get an idea for the amount of paper silver being sold, 225 million ounces represents almost one third of annual silver production.
Read More @ SeekingAlpha.com
Gerald Celente – GoldSilver Radio March 13, 2012
by Chris Powell, GATA:
Dear Friend of GATA and Gold:
After the Netherlands, Switzerland, and Germany, maybe gold suspicion now has struck France, for the Banque de France has just granted a newspaper reporter, Le Figaro’s Katia Clarens, a tour of its vast gold vault beneath the streets of Paris, where she discovered many bars of shiny yellow metal, some, perhaps, repatriated from the vault of the Federal Reserve Bank of New York almost a half century ago. (As all true Americans — revolutionaries and anti-imperialists — might say, just as was shouted in defiance by the denizens of Rick’s Cafe Americain in December 1941: “Vive la France! Vive la democratie!”)
Read More @ GATA.org
Protect Your Wealth...Or Lose It...
Dear Friend of GATA and Gold:
After the Netherlands, Switzerland, and Germany, maybe gold suspicion now has struck France, for the Banque de France has just granted a newspaper reporter, Le Figaro’s Katia Clarens, a tour of its vast gold vault beneath the streets of Paris, where she discovered many bars of shiny yellow metal, some, perhaps, repatriated from the vault of the Federal Reserve Bank of New York almost a half century ago. (As all true Americans — revolutionaries and anti-imperialists — might say, just as was shouted in defiance by the denizens of Rick’s Cafe Americain in December 1941: “Vive la France! Vive la democratie!”)
Read More @ GATA.org
Protect Your Wealth...Or Lose It...
by Graham Summers, GainsPainsCapital.com:
The coming years will be marked by a seismic change in the economic landscape in the US. Firstly and most importantly, we are going to see economic growth slow down dramatically. Jeremy Grantham, an asset manager I respect, believes we’ll see global growth at 2% over the next seven years. Personally I believe it could be even lower than that.
The reasons for this slow down are myriad but the most important are:
1) Age demographics: a growing percentage of the population will be retiring while fewer younger people are entering the workforce.
2) Excessive debt overhang.
Read More @ GainsPainsCapital.com
The coming years will be marked by a seismic change in the economic landscape in the US. Firstly and most importantly, we are going to see economic growth slow down dramatically. Jeremy Grantham, an asset manager I respect, believes we’ll see global growth at 2% over the next seven years. Personally I believe it could be even lower than that.
The reasons for this slow down are myriad but the most important are:
1) Age demographics: a growing percentage of the population will be retiring while fewer younger people are entering the workforce.
2) Excessive debt overhang.
Read More @ GainsPainsCapital.com
by Axel Merk, MerkFunds.com:
When Greece’s woes first rattled the markets two years ago, the pundits predicted a collapse of the euro.
The resilience of the euro has been due to a number of factors, not least of which is that the eurozone as a whole has a broadly balanced current account. As such, a misbehaving bond market doesn’t necessarily cause a plunge in the currency, as foreign buyers are not required to fund a deficit or protect against currency weakness.
The euro has also been on the other side of the Bernanke trade: the Fed’s printing of trillions of dollars is a deliberate effort to weaken the US dollar in an attempt to promote economic growth. Conversely, with the European Central Bank showing more restraint, the euro has been stronger, yet that strength has exposed a host of problems.
A similar pattern was evident during the Great Depression, where those countries holding on to the gold standard longer had stronger currencies, but suffered painful fiscal and political consequences of trying to do the right thing.
Read More @ MerkFunds.com
When Greece’s woes first rattled the markets two years ago, the pundits predicted a collapse of the euro.The resilience of the euro has been due to a number of factors, not least of which is that the eurozone as a whole has a broadly balanced current account. As such, a misbehaving bond market doesn’t necessarily cause a plunge in the currency, as foreign buyers are not required to fund a deficit or protect against currency weakness.
The euro has also been on the other side of the Bernanke trade: the Fed’s printing of trillions of dollars is a deliberate effort to weaken the US dollar in an attempt to promote economic growth. Conversely, with the European Central Bank showing more restraint, the euro has been stronger, yet that strength has exposed a host of problems.
A similar pattern was evident during the Great Depression, where those countries holding on to the gold standard longer had stronger currencies, but suffered painful fiscal and political consequences of trying to do the right thing.
Read More @ MerkFunds.com
by JS Kim, The Underground Investor:
I’m
writing this article today out of anger, yes, anger. Here’s the latest
offering of a steaming pile of cow dung that passes for financial
journalism that I stumbled across the other day:
“The headlines say the financial crisis is behind us. The Dow is back to pre-financial crisis levels. Layoffs are the slowest since the financial crisis, and car sales the highest since the financial crisis. So why are Americans still too scared to get back in the stock market?… A broad measure of the stock market, the Standard & Poor’s 500 index, is up more than 20 percent from last October. The index has more than doubled since March 9, 2009, the low point for stocks during the Great Recession.”
Read More @ TheUndergroundInvestor.com
I’m
writing this article today out of anger, yes, anger. Here’s the latest
offering of a steaming pile of cow dung that passes for financial
journalism that I stumbled across the other day:“The headlines say the financial crisis is behind us. The Dow is back to pre-financial crisis levels. Layoffs are the slowest since the financial crisis, and car sales the highest since the financial crisis. So why are Americans still too scared to get back in the stock market?… A broad measure of the stock market, the Standard & Poor’s 500 index, is up more than 20 percent from last October. The index has more than doubled since March 9, 2009, the low point for stocks during the Great Recession.”
Read More @ TheUndergroundInvestor.com
by Larry Amernick, RickAckerman.com:
February
11 marked the first anniversary of the resignation of Hosni Mubarak.
Mubarak’s departure was encouraged by President Obama, who arrogantly
remarked, “Egypt will never be the same!” Future U.S. presidents will
spend much time and treasure undoing the damage that this administration
has done to U.S. Middle Eastern prestige and influence. Since
Mubarak’s ouster, the Egyptian economy has disintegrated to the degree
that foreign reserves are down 50% since January 2011. The local
currency, the Egyptian pound, is likely to lose 15% to 20% of its value
in 2012. Already, many middle class businessmen are substituting the
U.S. dollar for the beleaguered currency. The last two bond auctions by
the government failed as buyers were reluctant to hold worthless
Egyptian debt. The average yield on three-year notes rose to 15.91%.
Read More @ RickAckerman.com
February
11 marked the first anniversary of the resignation of Hosni Mubarak.
Mubarak’s departure was encouraged by President Obama, who arrogantly
remarked, “Egypt will never be the same!” Future U.S. presidents will
spend much time and treasure undoing the damage that this administration
has done to U.S. Middle Eastern prestige and influence. Since
Mubarak’s ouster, the Egyptian economy has disintegrated to the degree
that foreign reserves are down 50% since January 2011. The local
currency, the Egyptian pound, is likely to lose 15% to 20% of its value
in 2012. Already, many middle class businessmen are substituting the
U.S. dollar for the beleaguered currency. The last two bond auctions by
the government failed as buyers were reluctant to hold worthless
Egyptian debt. The average yield on three-year notes rose to 15.91%.Read More @ RickAckerman.com
by Charles Hugh Smith, OfTwoMinds.com:
We
interrupt the regularly scheduled Part 2 of Money from Nothing to post
four charts of interest on Fed-Speak day. Part 2 will be published
tomorrow, Wednesday.
Here are four charts to ponder on Fed-Speak Day, the devotional time set aside to reassure us that all is well due to the god-like competence of the Federal Reserve. Let’s start with a chart of M2 money supply, i.e. “Fed printing.” Note that the “recovery” was so strong and self-sustaining in 2010 that the Fed had to goose money supply as frantically as it did in the global financial meltdown of 2008. We’d hate to see how much they’d have to print if we (gasp) ever had another recession….
Read More @ OfTwoMinds.com
We
interrupt the regularly scheduled Part 2 of Money from Nothing to post
four charts of interest on Fed-Speak day. Part 2 will be published
tomorrow, Wednesday.Here are four charts to ponder on Fed-Speak Day, the devotional time set aside to reassure us that all is well due to the god-like competence of the Federal Reserve. Let’s start with a chart of M2 money supply, i.e. “Fed printing.” Note that the “recovery” was so strong and self-sustaining in 2010 that the Fed had to goose money supply as frantically as it did in the global financial meltdown of 2008. We’d hate to see how much they’d have to print if we (gasp) ever had another recession….
Read More @ OfTwoMinds.com
by Madison Ruppert, Activist Post:
Adrian
Schoolcraft of the New York Police Department’s (NYPD) 81st precinct in
Brooklyn noticed some disturbing trends within the department and in
response to his brave move to step forward, his superiors had him thrown
in a psychiatric ward.
Schoolcraft realized that there was a pattern of the victims of crimes being caught up in bureaucratic hurdles which he thinks were deliberately put in place in order to make it harder to report serious crimes.
He then did his job and reported multiple incidents to investigators in 2009.
Read More @ ActivistPost.com
Adrian
Schoolcraft of the New York Police Department’s (NYPD) 81st precinct in
Brooklyn noticed some disturbing trends within the department and in
response to his brave move to step forward, his superiors had him thrown
in a psychiatric ward.Schoolcraft realized that there was a pattern of the victims of crimes being caught up in bureaucratic hurdles which he thinks were deliberately put in place in order to make it harder to report serious crimes.
He then did his job and reported multiple incidents to investigators in 2009.
Read More @ ActivistPost.com
2nd ‘German Occupation’ of Greece? (with Bill Black)
In order to secure a second bailout and remain solvent, Greece implemented the biggest debt write-down in history today. The bulk of its privately-held bonds have now been swapped with new ones worth less than half their original value. But fears that Greece will still be saddled with far too much debt remain. But is it time to start talking about alternatives, other ways out? William Black, author of “The Best Way to Rob a Bank Is to Own One” weighs in.Men In Black 3 – Unreleased Trailer
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