from SilverDoctors:
With the Greek crisis nearing a climax, The Doc spoke with Eric Sprott of Sprott Asset Management this week to discuss the Euro debt crisis, silver fundamentals, and the recent PSLV follow-on offering.
When asked about his recent efforts to convince silver mining companies to save in silver rather than cash or treasuries Eric responded:
I think we have a bit of a voice in the silver market, and the reason for the letter was just the simple analysis that the paper traders were determining the price…and why should you physical silver producers let that happen?
Read More @ SilverDoctors.com
With the Greek crisis nearing a climax, The Doc spoke with Eric Sprott of Sprott Asset Management this week to discuss the Euro debt crisis, silver fundamentals, and the recent PSLV follow-on offering.
When asked about his recent efforts to convince silver mining companies to save in silver rather than cash or treasuries Eric responded:
I think we have a bit of a voice in the silver market, and the reason for the letter was just the simple analysis that the paper traders were determining the price…and why should you physical silver producers let that happen?
Read More @ SilverDoctors.com
by Harriet Sherwood & Jill Treanor, Guardian.co.uk
The
United States is stepping up efforts to dissuade Israel from attacking
Iran’s nuclear facilities, with a strong public warning by the US
military’s most senior figure and the dispatch of two high-ranking
officials to Jerusalem.General Martin Dempsey, chairman of the US joint chiefs of staff, said in a television interview that it was “not prudent at this point” to attack Iran, and “a strike at this time would be destabilising”.
But in a comment likely to fuel speculation about Israel’s military plans, he added: “I wouldn’t suggest we’ve persuaded them that our view is the correct view.” The two countries were having a “candid, collaborative conversation” which was continuing, he said.
Read More @ Guardian.co.uk
Between the Chinese ‘surprise’ RRR and the Iran export halt to UK and
France (and escalating tensions), Oil prices are off to the races this
evening. WTI front-month futures have just broken $105 (now up
more than 10% in the last two weeks), the highest levels in over nine
months and just 8% shy of the 5/2/11 post-recession peak just
under $115. Brent (priced in EUR) remains off last week’s intraday highs
(as EUR strengthens) but still above the pre-recession peak but in USD
it traded just shy of $121 – well above last week’s peak. Of course,
this will be heralded as a sign of demand pressure from a ‘growing’
global economy rather than the margin-compressing, implicit-taxation,
consumer-spending-crushing supply constraint for Europe and the US that
it will become in the not too distant future. As we post, The Guardian is noting that US officials are commenting that “Sanctions
are all we’ve got to throw at the problem. If they fail then it’s hard
to see how we don’t move to the ‘in extremis’ option.” The impact of any escalation from here is gravely concerning with PIMCO’s $140 minimum and SocGen’s $150-and-beyond
Brent prices rapidly coming into focus – and for those pinning their
hopes on the Saudis coming to the rescue (and fill the Iranian output
gap), perhaps the news that our Middle-East ‘allies’ cut both production and exports in December will stymie any euphoria.
Read More @ ZeroHedge.com
Read More @ ZeroHedge.com
$6 Trillion in US Bonds: Part of the Collateral for the Stolen Treasures of the Chinese Emperors?
The Doc at SilverDoctors - 6 hours ago
How to Break Up a Currency Union
by Pater Tenebrarum, Acting-Man.com:
Jonathan
Tepper of Variant Perception has written an excellent report on the
break-up of the euro. The report includes an overview of past break-ups
of currency unions (the euro is not the first one that has failed), and a
detailed ‘how to’ manual as to how to handle the likely coming break-up
of the euro, this is to say, the exit of those current member nations
that are clearly not able to live with the euro.
Also included is an assessment of what would likely happen to the economies concerned after they break away, default and devalue, illustrated by fairly recent historical examples.
A break-up would certainly be a traumatic event, but it wouldn’t be the end of the world. On the contrary, since this would force the insolvent states to deal with their debt and competitiveness problems once and for all, it would pave the way for a successful new beginning.
Read More @ Acting-Man.com
by Pater Tenebrarum, Acting-Man.com:
Jonathan
Tepper of Variant Perception has written an excellent report on the
break-up of the euro. The report includes an overview of past break-ups
of currency unions (the euro is not the first one that has failed), and a
detailed ‘how to’ manual as to how to handle the likely coming break-up
of the euro, this is to say, the exit of those current member nations
that are clearly not able to live with the euro.Also included is an assessment of what would likely happen to the economies concerned after they break away, default and devalue, illustrated by fairly recent historical examples.
A break-up would certainly be a traumatic event, but it wouldn’t be the end of the world. On the contrary, since this would force the insolvent states to deal with their debt and competitiveness problems once and for all, it would pave the way for a successful new beginning.
Read More @ Acting-Man.com
from King World News:
40 year market veteran, Robert Fitzwilson, writes for King World News and states that the worldwide financial system is now trapped. He also believes we are looking at tremendous price increases going forward. Robert is the founder of The Portola Group, one of the premier boutique firms in the Unites States, and today King World News was given exclusive distribution rights to the following extraordinary piece:
“Pulling Back the Curtain on the Financial System”
by Robert Fitzwilson, President & Founder of The Portola Group
Read the Article @ KingWorldNews.com
40 year market veteran, Robert Fitzwilson, writes for King World News and states that the worldwide financial system is now trapped. He also believes we are looking at tremendous price increases going forward. Robert is the founder of The Portola Group, one of the premier boutique firms in the Unites States, and today King World News was given exclusive distribution rights to the following extraordinary piece:
“Pulling Back the Curtain on the Financial System”
by Robert Fitzwilson, President & Founder of The Portola Group
Read the Article @ KingWorldNews.com
from The Economic Collapse Blog:
Has
the economy improved since Barack Obama became the president of the
United States? Of course not. Despite what you may be hearing in the
mainstream media, the truth is that when you compare the U.S. economy on
the day that Barack Obama was inaugurated to the U.S. economy today,
there is really no comparison. The unemployment crisis is worse than it
was then, home values have fallen, the cost of health insurance is up,
the cost of gas is way up, the number of Americans living in poverty has
soared and the size of our national debt has absolutely exploded.
Anyone that believes that things are better than they were when Barack
Obama was elected is simply being delusional. Yes, things have
stabilized somewhat and our economy is not in free fall mode at this
point. But don’t be fooled. This bubble of false hope will be
short-lived. The problems we are seeing develop in Europe will erupt
into another full-fledged global financial crisis and economic
conditions in the United States will get even worse. When that happens,
what possible ” economic solutions” will Barack Obama have for us? We
never even came close to recovering from the last great financial
crisis, and now something potentially even worse is staring us in the
face. This is not a great time to have a total lack of leadership in
Washington.
Read More @ TheEconomicCollapseBlog.com
Has
the economy improved since Barack Obama became the president of the
United States? Of course not. Despite what you may be hearing in the
mainstream media, the truth is that when you compare the U.S. economy on
the day that Barack Obama was inaugurated to the U.S. economy today,
there is really no comparison. The unemployment crisis is worse than it
was then, home values have fallen, the cost of health insurance is up,
the cost of gas is way up, the number of Americans living in poverty has
soared and the size of our national debt has absolutely exploded.
Anyone that believes that things are better than they were when Barack
Obama was elected is simply being delusional. Yes, things have
stabilized somewhat and our economy is not in free fall mode at this
point. But don’t be fooled. This bubble of false hope will be
short-lived. The problems we are seeing develop in Europe will erupt
into another full-fledged global financial crisis and economic
conditions in the United States will get even worse. When that happens,
what possible ” economic solutions” will Barack Obama have for us? We
never even came close to recovering from the last great financial
crisis, and now something potentially even worse is staring us in the
face. This is not a great time to have a total lack of leadership in
Washington.Read More @ TheEconomicCollapseBlog.com
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