We live in a world that is becoming increasingly unstable, and the potential for an event that could cause “sudden change” to the U.S. economy is greater than ever. There are dozens of potentially massive threats that could easily push the U.S. economy over the edge during the next 12 months. A war in the Middle East, a financial collapse in Europe, a major derivatives crisis or a horrific natural disaster could all change our economic situation very rapidly. Most of the time I write about the long-term economic trends that are slowly but surely ripping the U.S. economy to pieces, but the truth is that just a single really bad “black swan event” over the next 12 months could accelerate our economic problems dramatically. If oil was cut off from the Middle East or a really bad natural disaster suddenly destroyed a major U.S. city, the U.S. economy would be thrown into a state of chaos. Considering how bad the U.S. economy is currently performing, it would be easy to see how a major “shock to the system” could push us into the “next Great Depression” very easily. Let us hope that none of these things actually happen over the next 12 months, but let us also understand that we live in a world that has become extremely chaotic and extremely unstable.
Read More @ TheEconomicCollapseBlog.com
from The Daily Bell:
Investors call on ECB to play fair in sovereign credit … Resentment at the European Central Bank’s immunity from losses on Greek debt has left fund firms wondering about the strength of their creditor rights and whether they should blacklist bonds purchased during emergency sprees by the lender of last resort. By sidestepping markdowns on Greek bonds, the ECB has effectively robbed fellow senior creditors of their top rank status, investors say, forcing each to forgive a greater proportion of the debt than they might otherwise have needed to. “I think many investors believed that as they were holding the same bond as the ECB, they should therefore be considered in the same boat as the ECB,” said Michael Krautzberger, head of the Euro fixed income business at BlackRock. – Reuters
Dominant Social Theme: What central banks do is “legal.” What YOU do is something else again.
Free-Market Analysis: We have often written the goal of the Anglosphere power elite is to create a worldwide depression on the way to one-world government. They are seemingly well on their way to doing that using the power of monopoly central banking, which they seem to control.
Read More @ TheDailyBell.com
Investors call on ECB to play fair in sovereign credit … Resentment at the European Central Bank’s immunity from losses on Greek debt has left fund firms wondering about the strength of their creditor rights and whether they should blacklist bonds purchased during emergency sprees by the lender of last resort. By sidestepping markdowns on Greek bonds, the ECB has effectively robbed fellow senior creditors of their top rank status, investors say, forcing each to forgive a greater proportion of the debt than they might otherwise have needed to. “I think many investors believed that as they were holding the same bond as the ECB, they should therefore be considered in the same boat as the ECB,” said Michael Krautzberger, head of the Euro fixed income business at BlackRock. – Reuters
Dominant Social Theme: What central banks do is “legal.” What YOU do is something else again.
Free-Market Analysis: We have often written the goal of the Anglosphere power elite is to create a worldwide depression on the way to one-world government. They are seemingly well on their way to doing that using the power of monopoly central banking, which they seem to control.
Read More @ TheDailyBell.com
Welcome To Sub-Nanosecond Markets
Just as market regulators were finally getting wise to the fact that they have no clue how how modern market works, what modern market topology is, or how High Frequency Trading impacts the stock market (think Flash Crash), here comes Certichron, the supplier of a time service center at a Savvis market center in Weehakwen, which says it has now mastered sub-nanosecond readouts which are now "compliant with the FINRA Order Audit Trail System and is likely to be compliant with any Consolidated Audit Trail that might be specified by the Securities and Exchange Commission." In other words, here come sub-nanosecond markets.
Morgan Stanley's Latest 'Commodity Thermometer'
Two weeks ago we presented the
latest and greatest "commodity thermometer" courtesy of Morgan
Stanley's commodities team. Below is the latest just released iteration.
Not much of a change, with gold still the most loved, and inc the most
hated (this could well be one of those "endorsed by John Paulson"
moments), and the only notable change being that silver has pushed above
Live Cattle and entered the Top 5.Financial Conditions Deteriorate in Europe/Credit event in Greece looks likely/another raid on silver and gold
Harvey Organ at Harvey Organ's - The Daily Gold and Silver Report - 3 hours ago
Dear
Ladies and Gentlemen:
Gold finished the comex session down $5.80 to $1703.00 Silver was the
object of interest falling by 81 cents to $33.67. Most of the fall
occurred after the second fix. The high open interest in silver
certainly provided the fodder for another attack orchestrated by our
bankers today. As you will see in the numbers,
the bankers are having a tough time with silver.
Silver clinging to Support at $34
Trader Dan at Trader Dan's Market Views - 4 hours ago
Risk off trades were in vogue today after news came out that China reported
that expected growth in their economy would be slowing a bit. That was all
that was needed to bring out the sellers in both the equity and commodity
markets.
Silver fell below pyschological round number support at $34 but then
recovered, only barely, by the end of the trading day. It is clinging to
support above this level as I write this.
There is a band of stronger support as one drops down towards $33 which
will be tested unless the market can keep its footing above $34.
It is still trying to repair the... more »
SP 500 and NDX Daily Futures - Blue Skies and Paper Moons
from King World News:
Today Bill Fleckenstein, President of Fleckenstein Capital, told King World News the Federal Reserve is totally out of control and thinks nothing of turning the US dollar into confetti. But first, when asked what his biggest concern was going forward, Fleckenstein responded, “The fact that the Europeans have gotten themselves in this mess, where they pretend like they are not going to print money and then they do print money. But they don’t ever print enough to get past this point.”
Bill Fleckenstein continues: Read More @ KingWorldNews.com
Today Bill Fleckenstein, President of Fleckenstein Capital, told King World News the Federal Reserve is totally out of control and thinks nothing of turning the US dollar into confetti. But first, when asked what his biggest concern was going forward, Fleckenstein responded, “The fact that the Europeans have gotten themselves in this mess, where they pretend like they are not going to print money and then they do print money. But they don’t ever print enough to get past this point.”
Bill Fleckenstein continues: Read More @ KingWorldNews.com
from TFMetalsReport.com:
As
many of you know or suspect, I am a subscriber to Ted Butler’s
newsletter service. Simply put, “Uncle Ted” has forgotten more than I’ll
likely ever know about the silver market and I find his perspective to
be quite valuable. He usually puts out two newsletters per week and,
last Monday, after reading his “Weekly Review” of 2/25/12, I
asked him for his permission to re-print it here, in its entirety. It’s
nothing unusual, earth-shattering or out-of-the-ordinary. It is,
however, a discussion of many of the issues we commonly mention here and
it serves as a fine example of the value of his service.
Read More @ TFMetalsReport.com
As
many of you know or suspect, I am a subscriber to Ted Butler’s
newsletter service. Simply put, “Uncle Ted” has forgotten more than I’ll
likely ever know about the silver market and I find his perspective to
be quite valuable. He usually puts out two newsletters per week and,
last Monday, after reading his “Weekly Review” of 2/25/12, I
asked him for his permission to re-print it here, in its entirety. It’s
nothing unusual, earth-shattering or out-of-the-ordinary. It is,
however, a discussion of many of the issues we commonly mention here and
it serves as a fine example of the value of his service.Read More @ TFMetalsReport.com
Revolution in America, Breitbart Murdered & More
A Cautionary Tale of Crony Consumer Capitalism for China and America’s Last Free Market
by Jijo Jacob, IBTimes.com:
To talk bullish on gold looks like a risky proposition at the moment — last Wednesday, gold saw one of the most brutal routs in a year when it tumbled five percent. It indeed recovered 1.5 percent the next day, broadly symbolizing the roller-coaster ride of bullion in recent times.
The latest gold sell-off was sparked by Fed chairman Ben Bernanke’s suggestion that another round of monetary easing, or Quantitative Easing-3, was not on the cards.
It’s no secret that gold’s super cycle rally in the past two years was mainly fueled by the quantitative easing, or the Fed’s decision to flood the market with dollars. If more of the cheap currency was not about to hit the turf again, gold investors would pull back indeed. In an atmosphere of monetary tightening, there is obviously no fuel to fire up a metals breakout.
Read More @ IBTimes.com
To talk bullish on gold looks like a risky proposition at the moment — last Wednesday, gold saw one of the most brutal routs in a year when it tumbled five percent. It indeed recovered 1.5 percent the next day, broadly symbolizing the roller-coaster ride of bullion in recent times.
The latest gold sell-off was sparked by Fed chairman Ben Bernanke’s suggestion that another round of monetary easing, or Quantitative Easing-3, was not on the cards.
It’s no secret that gold’s super cycle rally in the past two years was mainly fueled by the quantitative easing, or the Fed’s decision to flood the market with dollars. If more of the cheap currency was not about to hit the turf again, gold investors would pull back indeed. In an atmosphere of monetary tightening, there is obviously no fuel to fire up a metals breakout.
Read More @ IBTimes.com
by Ambrose Evans-Pritchard, Telegraph.co.uk:
The Spanish rebellion has begun, sooner and more dramatically than I expected.
As many readers will already have seen, Premier Mariano Rajoy has refused point blank to comply with the austerity demands of the European Commission and the European Council (hijacked by Merkozy).
Taking what he called a “sovereign decision”, he simply announced that he intends to ignore the EU deficit target of 4.4pc of GDP for this year, setting his own target of 5.8pc instead (down from 8.5pc in 2011).
In the twenty years or so that I have been following EU affairs closely, I cannot remember such a bold and open act of defiance by any state. Usually such matters are fudged. Countries stretch the line, but do not actually cross it.
Read More @ Telegraph.co.uk
The Spanish rebellion has begun, sooner and more dramatically than I expected.
As many readers will already have seen, Premier Mariano Rajoy has refused point blank to comply with the austerity demands of the European Commission and the European Council (hijacked by Merkozy).
Taking what he called a “sovereign decision”, he simply announced that he intends to ignore the EU deficit target of 4.4pc of GDP for this year, setting his own target of 5.8pc instead (down from 8.5pc in 2011).
In the twenty years or so that I have been following EU affairs closely, I cannot remember such a bold and open act of defiance by any state. Usually such matters are fudged. Countries stretch the line, but do not actually cross it.
Read More @ Telegraph.co.uk
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