Gold And Silver Surge Above 200DMA

The last few days have been 'different'. Equities have relinquished their role as QE-sensitizers as Treasuries and precious metals have taken the reins. Perhaps though, as CNBC's Rick Santelli noted earlier, Gold and Silver are acting as barometers of anxiety - as opposed to clarifying QE expectations - as we see both Gold (> $1650) and Silver (> $30) break above their 200DMA and trade back to near five-month highs.

KWN Update – Here Is A Huge Key To The Markets

from KingWorldNews:
With tremendous volatility in global markets, investors and professionals are wondering where the markets are headed from here. This piece will provide a huge clue for investors. Today King World News wanted share with its readers key portions from the latest Investors Intelligence report.
This is an extremely important piece because it finally shows increasing bullishness into the recent market advance. Here is the latest Investors Intelligence report: “Typical slow summer trading persists as many large traders are also waiting for the widely anticipated stimulus measures from around the world. The largest shift was for the bulls, to 47.3%, from 43.6% the prior two weeks.”
“That figure would have been even higher if some former bulls hadn’t turned cautious. We now count the most bulls since April when their number was falling from 52.7% late March, when many averages last set their 2012 highs.
Investors Intelligence Newsletter continues @ KingWorldNews.com

The Manufactured US Veteran Threat Against Obama That Will Justify Martial Law

by Susanne Posel, Occupy Corporatism:

Forget about al-Qaeda and state-sponsored radicalized Muslims, the newest Boogeyman that the US government wants the American public to fear are our own US veterans.
The US Armed Forces are preparing to fight what they call “rahowa” or racial holy war. They claim that white supremacists are joining the military to infiltrate and overthrow what is referred to as the Zionist Occupation Government (ZOG). Academics are proposing that the infiltration scheme includes white supremacists hiding their ties to neo-Nazi groups is secret in order to get passed screeners when applying for the armed forces in recruitment offices.
In reality, there is a great deal of former and current soldiers who have realized that our government has been takeover by the global Elite who are the front for the Zionist Movement that have been working in the shadows to instill global governance.
The mainstream media are using the false flag attack on the Sikh Temple because the patsy, Wade Michael Page was a US veteran who was purported to have ties to white supremacy groups according to the FBI-sponsored Southern Poverty Law Center (SPLC).
Read More @ OccupyCorporatism.com

The Beginning Of The End For John Paulson?

Because redemption requests are like cockroaches: once one appears, assume many, many more:

• CITIGROUP'S PRIVATE BANK SAID TO PULL $500M FROM PAULSON FUNDS - BBG
• CITIGROUP SAID TO REDEEM FROM PAULSON ADVANTAGE, ADVANTAGE PLUS - BBG

Is this the beginning of the end for the former Bear Stearns M&A banker and once infallible hedge fund manager? And to think he could have saved himself all the deep fundamental work telling him Las Vegas real estate is "cheap" and just bought Apple. Hey, everyone else is doing it. And everyone else can't possibly be wrong. As for Paulson, whose GLD holdings, which are not an investment but merely a gold denomination share class, will likely quite soon see a substantial hit as he is forced to unwind GLD holdings as more and more external investors redeem until finally JP is just left running his own and his employees' money.

Spreading Insolvency Around Does Not Create Solvency

The entire global financial "recovery" engineered by central banks and Central Planning is based on the absurd notion that if we spread unpayable debt over the entire body politic (be it a nation or regional entity such as the European Union) then that distribution will somehow make the debt payable and the phantom assets real. The debt remains unpayable and the assets (collateral) remain stubbornly phantom. As for adding more debt (selling Eurobonds, Treasury bonds, etc.), please note the diminishing return on additional debt: it is now negative.... Diminishing returns define the flailing financial system: the return on petrocapitalism is declining (how many barrels of oil or equivalent does it take to extract and process one barrel of shale-derived oil?), the return on more debt has turned negative, the yield on "saving" bankrupt States is marginal, and so on: spreading insolvency to the taxpayers does not magically create solvency, it only distributes insolvency to every nook and cranny of the economy.
All the debt remains painfully real; it is only the collateral that is illusory.

Middle class share of America's income shrinking

Eric De Groot at Eric De Groot - 30 minutes ago

Service-producing jobs defined by long hours, low pay, and poor benefits cannot support the “Great American Standard of Living” for long. Those seeking the illusion of the good-life find themselves heavily indebted by soaring costs of education, home ownership, and raising a strong nuclear family often before the keg at the last college party runs dry. The well-educated, creative yet... [[ This is a content summary only. Visit my website for full links, other content, and more! ]] 

 

Net Asset Value Premiums of Certain Precious Metal Trusts and Funds

Slumping Commercial Real Estate Sales Are Latest Flashing Red Non-Recovery Indicator

Real Capital Analytics (RCA) released their US commercial real estate transaction data for July last night. The only way to interpret the data is - ugly. After a dismal June (down 33% YoY), July did not see any bounce and in fact plunged 20% YoY with transactions totaling $14.6bn. As Barclays notes, the takeaway is generally negative, as the growth trend has weakened considerably since March ( which was +62% YoY). What is interesting to us is that with Treasury yields so low, the cap-rate 'spread' makes commercial real estate relatively attractive and yet no-one's buying.



By The Time This Is Over...You will have wished you had a case or two of Spam...

Spam Saves The Day

Spam may or may not be a better investment than gold (tip: it isn't, and only those for whom the only solution to a record debt crisis is more debt can claim otherwise), but some things are certain: it is edible, it is cheap and it can be stored indefinitely. Which just happens to be great news for Spam maker Hormel, as these three qualities are precisely what saved its quarter. Per AP, strong sales of Spam and Jennie-O products helped Hormel Foods' net income rise in its fiscal third quarter. The meat producer's revenue came in just above Wall Street expectations.

The European "No Action, Just Talk" Rumor Mill Is Back

Merkel must be back from vacation, cause Europe just fired up the all talk and no action rumor mill again.

• Spain in talks with Euro-Zone over terms of sovereign aid, according to "sources" - RTRS

So far so good - this is to be expected by the country whose bonds are trading lower only because this has been priced in for the past month.  But:

• No final decision has been made by Spanish authorities to request a bailout  - RTRS. So.... no news?
• No decision expected before September 12 at the soonest, politicial negotiations to intensify on September 14 or 15 - RTRS. So... no news because the ESM which is critical to the Spanish bailout is contingent on the German constitutional court. But hey - let's pretend like someone is doing something
• Preferred option is EFSF buying Spanish bonds on primary market, ESB buying in secondary market - RTRS. So... the EFSF whose 4th largest backer is Spain will be buying Spanish bonds, and the ECB, which Germany has just said 9 to, will be buying more bonds?
• Discussions being held at the technical level, focus on conditions, monitoring. So.... more talk and absolutely no action, with Spain as usual demanding no conditions to its bailout, while Germany and the Troika telling Rajoy he has to essentially resign and work for the IMF when he tells the world that Spain is broke.

Venezuela Ramps up China Oil Exports Unsettling Washington

The biggest geostrategic change of the past decade overlooked by Washington policy wonks in their fixation on their self-proclaimed “war on terror” is that Latin America has been throwing off the shackles of the Monroe Doctrine. These ignored developments may well soon refocus Washington’s attention on the Southern Hemisphere, as Venezuela’s President Hugo Chavez reorients his country’s to China. So, where does Washington go from here? If it wants to preserve its increasingly tenuous foothold in a nation with the world’s largest oil reserves, it might begin by engaging in some honest diplomacy.

Gold and U.S. presidential election effect: maybe down then up

With the incumbent US President likely to try to play down economic problems ahead of November’s election gold prices could continue to languish – but there could be a post-election re-awakening.
by Lawrence Williams, MineWeb.com
According to Texas coin dealer Dillion Gage’s President, Terry Hanlon, gold prices generally languish in the year leading up to a U.S. presidential election. For one thing, the incumbent tries to keep the public focused on any positive economic news, and that isn’t good for gold, while silver prices tend to weaken as well along with gold. In a release yesterday he noted that “We saw the price of gold decline leading into the 2008 presidential election but then rise afterwards. That scenario could play out again this year.”
2008 was the year when the gold price reached $1,000 for the first time, back in March, but it slipped back nearly 30% by the month of the election, although perhaps Hanlon is drawing too many conclusions re the presidential effect here. 2008 was the year the Great Financial Crisis really hit home with virtually all markets decimated with gold no exception, although the yellow metal was the first to make a significant recovery getting back to the $1,000 spot mark very briefly in early 2009, but only remaining consistently back above the $1,000 level in September that year. Thus during President Barack Obama’s Administration the price of gold, in fact, doubled.
Read More @ MineWeb.com

Donations will help maintain and defray the operational costs. Paypal, a leading provider of secure online money transfers, will handle the donations. Thank you for your contribution.

I'm PayPal Verified
 

Debt crisis: eurozone headed for recession as economic rot spreads

The eurozone looks destined for its second recession in three years, as business surveys showed the economic rot is even spreading to Germany, the region’s largest and strongest economy.
by Telegraph staff and agencies, The Telegraph:
Markit’s Flash eurozone composite PMI, which measures manufacturing and services activity, edged up to 46.6 in August.
Although this was marginally better than the 46.5 forecast by economists, it is the seventh month that the PMI has fallen below the 50 level that divides growth from contraction.
The data suggested that the eurozone will contract by between 0.5pc and 0.6pc in the third quarter as orders for new business decline.
A debt crisis which began in the euro zone’s smaller economies is now hammering business and consumer confidence across the bloc, putting pressure on policymakers to take radical steps to help vulnerable countries such as Spain and Italy.
More worryingly, the rot in smaller euro zone economies is now taking root in the core, with the flash composite PMI for Germany, falling to a three-year low of 47.0 in August.
“Hopes that German economic strength will aid recovery in the broader currency union were dealt a blow by its rate of economic contraction accelerating, and further signs that its export engine has slammed into reverse gear,” said Rob Dobson, senior economist at Markit.
Read More @ Telegraph.co.uk



If anything... it will be DHS and FBI...

DHS and FBI Claim: Anarchists May Use IEDs at Conventions

by Kurt Nimmo, Infowars:

The Department of Homeland Security and the FBI have issued a bulletin to law enforcement warning that “anarchist extremists” may use IEDs, or Improvised Explosive Devices, at the Republican and Democrat national conventions.
“FBI and DHS assess with high confidence anarchist extremists will target… infrastructure in Tampa and Charlotte, with potentially significant impacts on public safety and transportation,” CNN reports.
The Pentagon is pushing the virtually non-existent threat of domestic IEDs in order to finish off what remains of Posse Comitatus and further militarize state and local law enforcement and contrive additional pretexts for the eventual implementation of martial law.
In July, Lt. Gen. Michael Barbero, who heads up the military’s Joint Improvised Explosive Device Defeat Organization, testified before a partially closed House Committee on Homeland Security hearing.
“The domestic IED threat from both homegrown terrorists and global threat networks is real and presents a significant security challenge for the United States and our international partners,” Barbero stated.
Despite a complete lack of evidence that terrorists plan to use IEDs in the United States, Republican Congressmen Peter King of New York, Daniel Lungren of California, and Michael McCaul of Texas, leaders of the House Committee on Homeland Security, issued a hysterical warnings last month.
Read More @ Infowars

Pussy Riot, The Unfortunate Dupes of Amerikan Hegemony

by Dr. Paul Craig Roberts, PaulCraigRoberts.org:
My heart goes out to the three Russian women who comprise the Russian rock band, Pussy Riot. They were brutally deceived and used by the Washington-financed NGOs that have infiltrated Russia. Pussy Riot was sent on a mission that was clearly illegal under statutory law.
You have to admire and to appreciate the spunk of the women. But you have to bemoan their gullibility. Washington needed a popular issue with which to demonize the Russian government for standing up to Washington’s intention to destroy Syria, just as Washington destroyed Iraq, Afghanistan, and Libya, and as Washington intends to destroy Lebanon and Iran.
By intentionally offending religious worshipers–which would be a hate crime in the US and its European, Canadian, and British puppet states–the women violated a statutory Russian law.
Prior to the women’s trial, Russian President Putin expressed his opinion that the women should not be harshly punished. Taking the cue from Putin, the judge gave the women, deceived and betrayed by the amerikan-financed NGOs, two years instead of seven years.
The women were not waterboarded, raped, or forced to sign false confessions, all well-established practices of amerikan “justice.”
Read More @ PaulCraigRoberts.org

Red Dawn 2012: Chinese Acquisitions of US Assets & Businesses at Record High

from Silver Vigilante:
Chinese acquisitions of US assets and businesses are at record highs in 2012, as nearly $8bn in deals have been announced through nearly 8 months this year, the most notable one being Dalian Wanda’s $2.6bn takeover of AMC Entertainment, the US cinema chain, and Sinopec’s $2.4 bn acquisition of big stakes in a number of oil and gas developments from Devon Energy. This despite a tough market for mergers and acquisitions.
The $7.8bn is the most for the first eight months of any year and is approaching the full-year record of $8.9bn for Chinese deals buying into the US set in 2007, according to data from Dealogic.
“China is getting bigger, getting richer, getting more sophisticated. Chinese companies are developing – all of that drives growth in deal activity,” Joe Gallagher, co-head of M&A in Asia at Credit Suisse, said. “Some of China’s biggest companies, especially in the oil and gas sector, are getting much more sophisticated in their approach to acquisitions.”
Read More @ Silver Vigilante

Gold and silver price move: Is this the real thing?

by Lawrence Williams, MineWeb.com
Gold has broken up through $1640 this morning – seen as a resistance level by some technical analysts – and silver remains well above $29, but in the words of former global pop group Queen’s Bohemian Rhapsody – “Is this the real life? Is this just fantasy?” As usual only time will tell, but we are coming towards the end of the northern summer doldrums period and the precious metals do seem to be at last breaking out of their recent very tight trading range.
Recent news that mega investors George Soros and John Paulson have been climbing back into the GLD gold ETF may have given things a fillip, as had an appearance of a little more stability in the Eurozone situation (but don’t bank on the latter to continue) and the prospect of more Chinese monetary easing.
Comex gold futures have been rising for the past few days while markets in general have been pretty flat and with the dollar retreating – perhaps largely on the temporarily better Eurozone perception – commodities in general have also been rising.
Read More @ MineWeb.com

Donations will help maintain and defray the operational costs. Paypal, a leading provider of secure online money transfers, will handle the donations. Thank you for your contribution.

I'm PayPal Verified