Euro Goes Apeshit As Robots React To Individual Headlines From FinMin Statement

The EURUSD just went apeshit surging by 50 pips as the robots merely read the favorable tone in the headlines as released by Bloomberg, while completely missing the point that absolutely nothing is done yet. Here there are, via BBG:

• JUNKER SAYS SUBSTANTIAL FURTHER PROGRESS HAS BEEN MADE - EURUSD spikes 20 pips
• JUNCKER SAYS CONFIDENT EUROGROUP TO MAKE DECISIONS ON MONDAY -EURUSD unchanged
• JUNCKER SAYS TROIKA HAS PRESENTED DEBT SUSTAINABILITY REPORT - EURUSD spikes another 20 pips
• JUNCKER SAYS GREECE, TROIKA HAVE IDENTIFIED EXTRA BUDGET MOVES -EURUSD unchanged
• JUNCKER SAYS HE'S CONFIDENT OF FEB. 20 DECISIONS ON GREECE - it was supposed to be Feb 15 remember...
• JUNCKER SAYS GREECE SETS EU325 MLN IN EXTRA BUDGET MEASURES -EURUSD unchanged
• JUNCKER SAYS STRONG ASSURANCES FROM LEADERS OF 2 GREEK PARTIES - EURUSD says: "OOOPS"

And the one the robots have so far missed:

• JUNCKER SAYS FURTHER CONSIDERATIONS NEEDED ON SPECIFICS

Translating the last one: NOTHING HAS CHANGED!

 

 

FOMC Minutes: "More Bond Buying May Be Necessary"

Some of the key headlines from the just released FOMC minutes via Bloomberg, which however don't show anything out of the ordinary:

• A FEW FED OFFICIALS SAID MORE BOND BUYING MAY BECOME NECESSARY. So (1-Few) did not see it as necessary
• FOMC PARTICIPANTS SAW `GRADUAL’ IMPROVEMENT IN LABOR MARKET
• FOMC OFFICIALS SAW `MODERATE’ IMPROVEMENT IN HOUSEHOLD SPENDING
• FOMC PARTICIPANTS SAW `DEPRESSED’ HOUSING SECTOR
• FOMC OFFICIALS SAID GLOBAL FINANCIAL STRAINS POSED BIG RISKS
• FOMC PARTICIPANTS FORECAST INFLATION WOULD REMAIN `SUBDUED’
• SOME FED OFFICIALS FAVORED QE IF INFLATION FALLS, GROWTH SLOWS

 

 

How To Come Through This Mess With Your Wealth Intact

Please listen to the King World News interview with Jim Sinclair. Click on the purple “Listen To MP3 Click Here” box on the left hand side of the page at the King World News site:
KingWorldNews Jim Sinclair Interview 2/14/12
I believe he sees the issues more clearly than anyone you will hear discuss the topics. His credentials are legendary and his track record is virtually perfect.
Sinclair was given the title “Mr. Gold,” in the last bull market in the 70s. He called the beginning of the bull market in the early 70s and called the top literally to the day in early 1980 and then left the gold market for 20 years, only returning in 2001.
His father was the legendary Bert Seligman, who was a legend on Wall Street after WW2. Jim Sinclair grew up working with Seligman and inherited and learned his gift, his understanding of the markets.
Read More @ MilesFranklin.com

Americans Greasing The Tracks For A Financial Crash! Heres Why
http://www.munknee.com/2012/02/americans-greasing-the-tracks-for-a-financial-...

Gas Prices' Earliest-Ever Rise Above $3.50 a Bad Sign for Motorists
http://www.mcall.com/business/mc-gas-prices-20120214,0,2776477.story

20 Things We Can Learn About The Future Of America From The Death Of Detroit
http://theeconomiccollapseblog.com/archives/20-things-we-can-learn-about-the-...

A Bitter Pill to Swallow, Austerity or Inflation
http://kingworldnews.com

Pew Study: 1 in 8 Voter Records Flawed
http://www.usatoday.com/news/politics/story/2012-02-10/pew-study-inaccurate-v...

FBI Receives Court Order To Impose Targeted Internet Takeover on March 8th
http://www.theaveragejoenewsblogg.com/2012/02/14/fbi-receives-court-order-to-...

Guess How Big A Cube All The Gold In The World Would Make
http://www.businessinsider.com/buffett-on-gold-2012-2
http://wisesooth.patriotactionnetwork.com/2011/11/07/us-debt-in-pictures/

Survival Food: Fat Sources For A SHTF Diet
http://readynutrition.com/resources/survival-food-fat-sources-for-a-shtf-diet...

The Hidden Taxes In Obama's Budget

While headlines yesterday crowed and complained of the small rise in the budget and the focus on taxing the wealthy - which admittedly given the peak polarization in political parties is unlikely to actually move into legislation anytime soon - JPMorgan's Michael Cembalest finds perhaps the most controversial part of the proposal hidden deep in the report. While the JPM CIO notes the CBO baseline and alternative scenarios, it is the difference between the $293bn benefit (CBO estimate from last year) and the Administration's new estimate of $584bn that caught his eye as buried on Page 73 of the Green Book were three new taxes on existing tax-efficient 'benefits'. Tax the mass-affluent (>$250k) seems indeed the new motto of this presidency.

Linsanity

Dave in Denver at The Golden Truth - 39 minutes ago

*Gold is a reflection that there is no other escape out of this problematic situation we are trapped in than printing money to prevent systemic collapse -* Felix Zulauf, Swiss money manager Everyone else is jumping on the Jeremy Lin promotional hype...why shouldn't I? But I'll poke at it from a slightly different angle. Maybe from the perspective you might get on CNBC if it were gold instead of a New York Knick basketball player with an Ivy League degree. Is the sudden meteoric media interest in Jeremy Lin a bubble? One bubble the Government is definitely trying desperately to ... more »

 

 

Describing the Fraud Underlying the Financial Crisis So Even an Economist Can Understand It

more »

 

General Comments

Trader Dan at Trader Dan's Market Views - 2 hours ago

Gold is holding firm in today's session but has retreated from its best overnight levels. You will notice that within the larger time frame on the chart, gold has made a nice run to stiff resistance beginning near $1760 and then retreated. Buying on the downside coming in near the support level marked (close to $1720) has been extremely consistent over the last two weeks however. The result has been a constricting triangle forming which is a consolidation pattern. Bulls cannot take it through resistance at this point but neither can the bears break it down. I happen to believe that ... more » 

Li(e)borgate Set To Become "Next Big Litigation Thing" As Lawsuits Against Libor Banks Avalanche

Last week we discussed the gradual unraveling of a topic we had been following for the past 3 years, namely the brazen and criminal manipulation in the Libor market, which directly and indirectly impacts a stunning $350 trillion worth of securities (and thus, their implied risk, and hence, prices). Today we are delighted to learn that the retribution against these banks who have been artificially representing to the market that they are in better condition than in reality (courtesy of Libor's "strict" self-reporting approach), are beginning to see lawsuits filed against them, with Schwab merely the latest out of the gate. And just as fraudclosure was the litigation topic of 2010 and 2011, sit down and watch as Li(E)borgate explodes into the biggest litigation pain for banks, with litigation expenses that could easily surpass both the robosigning scandal (and its robo-settlement) and the escalating banks Reps and Warranties scandal. Because as recent evidence confirms, there are likely emails proving manipulation exists black on white, as discussed last week. Which means that the case of Schwab, noted last summer by Reuters, is about to become a pandemic.

Newton Is Back As Apple Finally Falls

UPDATE 2: AAPL bouncing from the lows even as Mac Rumors now reports that iPad 2 has been pulled from Amazon China. Recall this story on the recently contentious relationship between Apple and China.




UPDATE: AAPL now $502.08 lows for day -$24 from highs
Chatter of a QQQQ rebalance (Apple is up ~50% from the last rebalance compared to 10% for NASDAQ) seems to be stumbling the iEconomy as AAPL goes red.

Now, which of the 209 funds will be first out of the door? and which last? Volume is picking up for sure and options (especially short-dated) are getting very excited. Of course, broad indices are losing their bid implicitly as ES drops below the pre-China rumor and post-Samaras pop levels. Perhaps it is the recognition that we sold off 7% in a week after the last QQQQ rebalance (April 2011) and the pre-move was nothing compared to this...

A Better "Halftime In America" Commercial

Clint Eastwood drew a lot of ire, rhetoric, and subsequent explanations as to the real motives behind his Superbowl halftime commercial. Frankly, the commercial could and should have been much better. One proposal for what a less cynical and thus far more sincere "Halftime in America" commercial should be comes from Omid Malekan, creator of the original Bears (explaining QE for the "rest of us") cartoon. We believe this is what should have been showed during the superbowl. And certainly not presented under a Chrysler umbrella.

9 Out of 9 : Stolper Capitulates Again

Ladies and gentlemen: we bring you.... 9 our of 9. That would be the number of times (at least since we have started counting) that Goldman FX maven Thomas Stolper has capitulated on his calls. IN A ROW.

Latest Market Frenzy: Sell Europe, Buy Apple

The divergence between credit markets and equities accelerated today in Europe (and the US) as Senior and Subordinated financial credit spreads have increased dramatically in the last week. While risk has risen over 25% in financials, European stocks have gone sideways since the NFP print. The Subordinated financials spread has risen the most (in percentage terms) over the last 4 days since Nov2010 - and of course the broad equity markets are flat. It would seem that every trader and their mom is selling European financials and buying AAPL.

“Romney Is An Echo, Not A Choice When It Comes To Obama” – Nick Gillespie on Freedom Watch 13.Feb.2012

Gold Fire Sale

Buy Now, Sale Ends Soon

by Darryl Robert Schoon via SilverBearCafe.com:
 
Inverse Lin-omena, the inverse of the Jeremy Lin phenomena where the unknown and previously discounted suddenly rise to prominence; here, the powerful and previously secure suddenly fall.
Today, central bankers, the mandarins of capitalism, are in disarray. Their attempts to contain capitalism’s current crisis increasingly resemble the tactics of a defeated army in retreat. Like Napoleon and Hitler’s respective “Moscow moments”, the 21st century economic crisis has brought to an end the bankers’ spectacular 300 year run at the table of power and wealth.
The indebting of others as a means of accumulating wealth ends when the indebted can no longer pay what they owe. The arcane and esoteric scribblings of second generation University of Chicago trained economists cannot cover up this basic fact, i.e. that the indebted are broke; and soon, their creditors will be as well.
Read More @ SilverBearCafe.com

Did Maine GOP Blatantly Cheat Ron Paul out of a Victory?

FBI: 9/11 Truthers Should Be Treated As Possible Terrorists

from TheIntelHub.com:
[...] In the last few weeks the FBI, in conjunction with the Department of Homeland Security and the Department of Justice, have sent out 25 flyers that label normal everyday activities as possible terrorist indicators.
These flyers also specifically target political speech and the belief that the CIA and others had a part in 9/11 in order to justify, among other things, multiple foreign wars.
That’s right, our government is teaching state and local law enforcement nationwide that 9/11 truthers should be immediately looked at as possible terrorists.
In an FBI, Bureau of Justice document on spotting potential sleeper cells within the United States it specifically states that someone may be a terrorist sleeper agent if they believe that the CIA had a hand in 9/11. (A fact that has been heavily documented by thousands of experts. Rogue elements does not mean the entire CIA)
Read More @ TheIntelHub.com

Financial Terrorism

by Bob Chapman, The International Forecaster via GoldSeek.com:

By decree, by the privately owned Federal Reserve, zero interest rates are here to stay. You do not get to borrow at those rates, only the member banks do. In the latest currency swap (loan) from the Fed to the ECB, European Central Bank, as we noted in previous issues over the last two months, that Europe has been forced to join the Anglo-American system. The system of zero interest rates and the continual creation of money and credit. Due to the Fed’s ability to create endless supplies of money and credit it eventually took over the control of ECB and European monetary policy. These policies starkly point out the zero interest rates and monetary policy of endless money creation is the path to be taken probably by all in the system to lesser or greater degrees. That means no savings and that leaves speculation and the purchase of gold and silver related assets.
Read More @ GoldSeek.com

U.S. Schoolchildren Now Subjected to Sack Lunch Searches by Government Agents Who Enforce Nutritional Insanity

by Mike Adams, NaturalNews.com:
(NaturalNews) First it was the TSA searching your underpants at the airport, claiming to be protecting you from “terrorists.” Now a local elementary school in North Carolina is searching the homemade lunches of schoolchildren with the goal of forcing children to ditch their nutritious, home-made meals and learn to consume pasteurized, homogenized USDA-approved cow’s milk and chemically-laced processed meats that promote cancer.

This is what happened, as reported in the Carolina Journal yesterday:

“A preschooler at West Hoke Elementary School ate three chicken nuggets for lunch Jan. 30 because a state employee told her the lunch her mother packed was not nutritious.” (http://www.carolinajournal.com/exclusives/homemade-lunch-replaced-wit…)

The paper goes on to report:

“The girl’s turkey and cheese sandwich, banana, potato chips, and apple juice did not meet U.S. Department of Agriculture guidelines, according to the interpretation of the agent who was inspecting all lunch boxes in her More at Four classroom that day.”

Hold on a sec there, partner. There are AGENTS inspecting lunch boxes of schoolchildren?
Read More @ NaturalNews.com

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