James Turk, Founder of GoldMoney calls in from Spain to explain how the FED’s latest actions spell doom for the Dollar. James reminds us that what is happening in the United States RIGHT NOW, thanks to the privately owned Central Bank, always ends the same way: In a disaster for the currency. We’ve seen it before: Weimar Germany, Zimbabwe, Argentina, Serbia… and we’ll soon see it in AmeriKa. James also revisits his decade long prediction of $400 silver and $8,000 gold by 2014 – 2016. And he corrects me, explaining that he sees it happening as early as 2013-2015, along with hyperinflation. The fuse has been lit and time is running out.
JAMES TURK - Part 1: This Always ENDS the Same Way: Zimbabwe, Argentina... AmeriKa
JAMES TURK - Part 2: WARNING: Currency Cliff Ahead = $400 Silver, $8,000 Gold
by Matthew Boesler, BusinessInsider:
In a new report entitled Gold: Adjusting For Zero, Deutsche Bank analysts Daniel Brebner and Xiao Fu paint an incredibly dark picture of the bind the global economy is in right now.
Brebner and Xiao are pretty frank about how levered up the financial system is at the moment, and they warn that the next shock will be totally involuntary and unexpected.
Here is what the analysts have to say about how upside down the world is right now and the risks looming on the horizon:
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In a new report entitled Gold: Adjusting For Zero, Deutsche Bank analysts Daniel Brebner and Xiao Fu paint an incredibly dark picture of the bind the global economy is in right now.
Brebner and Xiao are pretty frank about how levered up the financial system is at the moment, and they warn that the next shock will be totally involuntary and unexpected.
Here is what the analysts have to say about how upside down the world is right now and the risks looming on the horizon:
We believe the balance of 2012 could remain challenging for investors, given the many negative indicators and warning signs. Certainly
extremes in leverage in the Western economies and questions regarding
growth in China present investors with a worrying post-2012 future. However, in our view there are nearly zero real choices available to global policy makers.
The world needs growth and it is willing to go to extraordinary lengths
to get it. This is creating distortions where old rules don’t seem to
apply and where investors face a disturbing paradox:
Read More @ BusinessInsider.comTotal Donations over the last 3 1/2 years. approx $165.00 (Thank You). Donations will help defray the operational costs. Paypal, a leading provider of secure online money transfers, will handle the donations. Thank you for your contribution.
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Head Of Iran's Revolutionary Guards: "A War With Israel Will Occur"
Even as the popular ADHD affliction is preoccupied with who paid what taxes, and whether this poll shows that guy on top or this one, until tomorrow when they flip providing even more meaningless chitchat opportunities, everyone appears to have once again lost sight of the big picture, which is that two US ships continue full steam ahead toward Iran, namely the CVN-74 Stennis aircraft carrier which has crossed the Pacific ocean and is now a week away from its target, and the LHA 5 Peleliu big deck amphibious warfare ship, where they will join two other aircraft carriers and the LHD 7 Iwo Jima as summarized by the graphic below. Why is US naval presence in the Gulf soaring to a concentration not seen since the last Gulf war? The head of the Iran revolutionary guard may have an idea. From Reuters: Israel will eventually go beyond threats and will attack Iran, the commander of Iran's Revolutionary Guards was quoted as saying on Saturday. "A war will occur, but it's not clear where or when it will be," Jafari was quoted as saying on Saturday. "Israel seeks war with us, but it's not clear when the war will occur."
from Silver Vigilante:
To cap off a strong end of summer for silver, the cartel deployed an
all-out selloff and disinformation campaign. Silver Doctors reported
today that, as silver passed the $35 mark, at 10:35 and 10:50am EST, an
overwhelming 62.5 million ounces of paper silver were sold amounting to
nearly twice the US annual silver production of 36 million ounces. No
matter what the cost, the precious metals complex must be manipulated so
as to not represent what its inverse, fiat currencies are truly worth.
The system would automatically collapse from the flight of individuals
into a new, non-bankrupted parallel universe.The cost of naked shorts clearly costs less than the cost of a price run in the minds’ of paper-masters. Today demonstrates that the entire market is an illusion that does not exist. The market represents the ponzi scheme at critical mass. There is no winner in this game of gambling – instead, those with the most winnings so far only wish for the game to continue, for they know the players have over-bet themselves and can’t pay up. Silver crashed violently, from about 35.20 all the way down to $34.65.
Read More @ Silver Vigilante
Bill Haynes and Dan Norcini AUDIO INTERVIEW @ KingWorldNews.com
By Henry Lancaster, Bullion Street:
Prices on conventional US Treasury bonds have fallen in the wake of the
third round of quantitative easing (QE3), with yields on the benchmark
10-year bond rising to over 1.8% – the highest in four months and just
two months after reaching a record low of 1.4%.
In comparison, demand for Treasury Inflation Protected Securities (TIPS) has pushed prices up and resulted in yields falling to a record low of -0.8%.
The growing gap between nominal and equivalent-dated TIPS yields is closing in on an all-time high. This gap, at 2.6% per annum, is known as the break-even inflation rate – the level of inflation that is ‘forecast’ by the market. This rate, at which investors would get the same return from holding either TIPS or conventional bonds to maturity, was at 2.1% in July. Clearly, Treasury investors expect QE to push inflation significantly above the Fed’s 2% target.
Read More @ BullionStreet.com
Prices on conventional US Treasury bonds have fallen in the wake of the
third round of quantitative easing (QE3), with yields on the benchmark
10-year bond rising to over 1.8% – the highest in four months and just
two months after reaching a record low of 1.4%.In comparison, demand for Treasury Inflation Protected Securities (TIPS) has pushed prices up and resulted in yields falling to a record low of -0.8%.
The growing gap between nominal and equivalent-dated TIPS yields is closing in on an all-time high. This gap, at 2.6% per annum, is known as the break-even inflation rate – the level of inflation that is ‘forecast’ by the market. This rate, at which investors would get the same return from holding either TIPS or conventional bonds to maturity, was at 2.1% in July. Clearly, Treasury investors expect QE to push inflation significantly above the Fed’s 2% target.
Read More @ BullionStreet.com
by Andy Hoffman, MilesFranklin.com:
Few realize Miles Franklin is not just a bullion seller, but a dealer. Given our A+ Better Business Bureau rating, and 22 years without an official complaint of any kind, we are one of just 25 such dealers listed on the U.S. Mint’s Official Website.
The reason our dealer status is largely unknown is because – as we have discussed for years – the “secondary market” for used coins is essentially non-existent. In other words, nearly NO ONE sells us their coins; with most cases due to clients having near-term liquidity needs, as opposed to a desire to “sell high.” At Miles Franklin, roughly 1% of our revenues emanate from client “buybacks,” which I often cite when demonstrating how essentially ALL price declines are due to covert government intervention in the PAPER PM markets. Or, on the rare occasion they are desperate to push prices lower, they’ll even do so overtly; even if such admissions – like the one below catalyzing last December’s “OPERATION PM ANNIHILATION II”…
Read more @ MilesFranklin.com
Few realize Miles Franklin is not just a bullion seller, but a dealer. Given our A+ Better Business Bureau rating, and 22 years without an official complaint of any kind, we are one of just 25 such dealers listed on the U.S. Mint’s Official Website.The reason our dealer status is largely unknown is because – as we have discussed for years – the “secondary market” for used coins is essentially non-existent. In other words, nearly NO ONE sells us their coins; with most cases due to clients having near-term liquidity needs, as opposed to a desire to “sell high.” At Miles Franklin, roughly 1% of our revenues emanate from client “buybacks,” which I often cite when demonstrating how essentially ALL price declines are due to covert government intervention in the PAPER PM markets. Or, on the rare occasion they are desperate to push prices lower, they’ll even do so overtly; even if such admissions – like the one below catalyzing last December’s “OPERATION PM ANNIHILATION II”…
Read more @ MilesFranklin.com
from KingWorldNews:
Today 25 year veteran Caesar Bryan surprised King World News when he
talked about gold advancing $700 to $1,200 in a matter of months. Bryan
stated, “Just looking at gold relative to the supply of money, gold may
advance to $2,500 to $3,000 in the first few months of next year.”
Bryan, from Gabelli & Company, also discussed the nature of the
current gold advance, silver, and what to expect going forward.
Here is what Caesar had to say: “Since we’ve had the news of further easing in the US and Europe, gold has moved up in a sort of ‘step’ fashion. It’s quiet for a few days, and then another move higher takes place. Now we seem to be set for another ‘step’ move higher.”
Continue Reading @ KingWorldNews.com
Today 25 year veteran Caesar Bryan surprised King World News when he
talked about gold advancing $700 to $1,200 in a matter of months. Bryan
stated, “Just looking at gold relative to the supply of money, gold may
advance to $2,500 to $3,000 in the first few months of next year.”
Bryan, from Gabelli & Company, also discussed the nature of the
current gold advance, silver, and what to expect going forward. Here is what Caesar had to say: “Since we’ve had the news of further easing in the US and Europe, gold has moved up in a sort of ‘step’ fashion. It’s quiet for a few days, and then another move higher takes place. Now we seem to be set for another ‘step’ move higher.”
Continue Reading @ KingWorldNews.com
Peak Career Risk: Only 8% Of Hedge Funds Are Outperforming The Market
Peak career risk. That's how one can summarize what the hedge fund community, long used to "nimbly" outperforming the market populated by slow, dumb money managers and getting paid 7+ digit bonuses, is feeling right now. The last time we looked at relative hedge fund performance, because let's face it: indexing is a polite word for underperforming and anyone who says otherwise is rather clueless about the asset management industry in which the only thing that matters is always outperforming everyone else, only 89% of hedge funds were underperforming the S&P500 through mid-August. A month later, this number is now up to 92% as of September 14. A month later, this number is now up to 92% as of September 14.
Inversely this means that only 8% of hedge funds are outperforming the market with just 3 months left in the year.
How to Measure Strains Created by the New Financial Architecture
We believe an unsustainable
new global financial architecture that arose in response to the US and
European financial crises has replaced an older, more sustainable,
architecture. The old architecture was crystallized in
Washington- and IMF-inspired policy responses to the numerous sovereign
defaults, banking system failures, and currency collapses. Most
importantly, the previous architecture recognized limits on fiscal and
central bank balance sheets. The new architecture attempts to 'back', perhaps unconsciously, the entire liability side of the global financial system.
This framing is consistent with a purely political—institutional
stylized—fact that it is nearly impossible to penetrate the US political
parties if the message is that there are limits to their power…or that
their power requires great effort and sacrifice. This is why
Keynesians (at least US ones) who argue there are no limits to a fiscal
balance sheet are so popular with Democrats, and why monetarists (at
least US ones) who argue there are no limits to a central bank balance
sheet are popular with (a decreasing number of) Republicans. Party on!
Again, nobody chooses hard-currency regimes – they are forced on non-credible policymakers. Let me put it more positively. If
politicians want the power of fiat money, let alone the global reserve
currency, they need to behave differently than they have - or the
consequences for Gold are extraordinary.What Does the Invisible Hand Already Know About The Final End Game?
Eric De Groot at Eric De Groot - 13 minutes ago
Jim's timeline commentary does a great job explaining why QE has become the
global policy tool of choice to kick the can (excessive debt of the Western
economies) down the economic road. In my opinion, his best observation
“once on the QE road there is no exit other than business recovery success
which will not occur” explains why gold is rallying and capital flows
remain...
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Trader Dan on King Worlds News Markets and Metals Wrap
Trader Dan at Trader Dan's Market Views - 55 minutes ago
Please click on the following link to listen in to my regular weekly radio
interview with Eric King on the KWN Markets and Metals Wrap.
*http://tinyurl.com/9c9aa8b*
The Spanish bailout conditions revealed: Pension freeze and retirement age hike/ Greek municipality runs out of cash/ Pakistan rioting on the streets/
Harvey Organ at Harvey Organ's - The Daily Gold and Silver Report - 3 hours ago
Good
morning Ladies and Gentlemen:
Gold closed up to the tune of $8.00 to finish the week at $1775.70.
Silver on the other hand was victim of a vicious and blatant
manipulation which forced it to tumble in price before finally
recovering. It finished down
5 cents to $34.57.
Gold and silver yesterday morning were on a tear when at precisely 10:50
am est (safely after the second London fix)
Printing Money In The Longer Term Does Not Work
Admin at Jim Rogers Blog - 4 hours ago
Printing money has never solved anyone’s problems. Maybe sometimes in the
short term printing money has alleviated the situation, but anybody who has
studied history or economics knows that printing money in the longer term
doesn’t work. Maybe this time it’s different, but I doubt it. - *in The
Fiscal Times*
*Jim Rogers is an author, financial commentator and successful
international investor. He has been frequently featured in Time, The New
York Times, Barron’s, Forbes, Fortune, The Wall Street Journal, The
Financial Times and is a regular guest on Bloomberg and CNBC.*
A Fiscal Grand Canyon
Admin at Marc Faber Blog - 4 hours ago
The money printers are responsible for this crisis. If we continue with
this expansionist monetary policy we won’t be facing a fiscal cliff it will
be a fiscal grand canyon. - *in CNBC*
*Marc Faber is an international investor known for his uncanny predictions
of the stock market and futures markets around the world.*
Euro Gold on Track for all Time High Monthly Close
Trader Dan at Trader Dan's Market Views - 14 hours ago
Gold priced in terms of the Euro notched a brand new all time high today at
the London PM Fix and came within a mere Euro of matching its all time high
based on the futures charts. It is on track, provided it has a decent week
next week, to finish out the month at an all time high monthly closing
price. It will be extremely difficult for the bears to mount a SUSTAINED
sell off in gold as long as this chart stays firm.
Gold And Silver Fail to hold Resistance Levels
Trader Dan at Trader Dan's Market Views - 14 hours ago
Both of the precious metals had mustered enough energy to finally best
those respective chart resistance levels earlier in today's session but
were repelled around midmorning and unable to keep their footing above
important chart resistance. It sure seems to be, based on the price action,
that there was extremely heavy capping action occuring.
It seems to me that the noteworthy strength in the mining sector as
evidenced by the robust performance of the HUI has given the bulls a great
deal of confidence in stepping up to buy the dips in both metals.
Gold has now entered firmly into a... more »
from MOXNEWSd0tC0M:
Total Donations over the last 3 1/2 years. approx $165.00 (Thank You). Donations will help defray the operational costs. Paypal, a leading provider of secure online money transfers, will handle the donations. Thank you for your contribution.
by David Galland, Casey Research:
Today, we’ll start with an article from Dennis on his paid newsletter’s
performance thus far, his experience starting it, and what to do when
you’re sitting on a profit. Then I’ll touch on the run-up in gold prices
right before the QE3 announcement. Does this price action suggest a
leak at the Fed? And last, I’ll discuss our national love affair with
real estate. Why after years of poor performance does the sector still
appeal to so many?
Damn Right I Was Scared To Start Money for Life – And The Report Card Is In
I opened up my inbox the other day to find several messages with the subject line “Money for Life quarterly report card.” Much to my surprise, Vedran Vuk – our senior research analyst – had finished our portfolio analysis for the September issue and had shared the results with the entire Casey team.
We’re still building the Money for Life portfolio. Excluding the three picks we just added in the September issue, we have eight picks ranging from low to high risk across several different market sectors. Seven show positive gains, and including dividends received, four are up by double digits, ranging between 12-27%. One pick is down 13%.
Read More @ CaseyResearch.com
Today, we’ll start with an article from Dennis on his paid newsletter’s
performance thus far, his experience starting it, and what to do when
you’re sitting on a profit. Then I’ll touch on the run-up in gold prices
right before the QE3 announcement. Does this price action suggest a
leak at the Fed? And last, I’ll discuss our national love affair with
real estate. Why after years of poor performance does the sector still
appeal to so many?Damn Right I Was Scared To Start Money for Life – And The Report Card Is In
I opened up my inbox the other day to find several messages with the subject line “Money for Life quarterly report card.” Much to my surprise, Vedran Vuk – our senior research analyst – had finished our portfolio analysis for the September issue and had shared the results with the entire Casey team.
We’re still building the Money for Life portfolio. Excluding the three picks we just added in the September issue, we have eight picks ranging from low to high risk across several different market sectors. Seven show positive gains, and including dividends received, four are up by double digits, ranging between 12-27%. One pick is down 13%.
Read More @ CaseyResearch.com
from, Testosterone Pit.com:
Spain has enough problems: a debt crisis, a hangover from a housing
bubble, unemployment of over 25%, youth unemployment of over 50%,
massive demonstrations against “structural reforms” that the government
is trying to implement in its desperate effort to keep its chin above
water…. And now it has a new one: the possible breakup of the country.
The military has already chosen sides.
It started last week in Barcelona, capital of the Autonomous Region of Catalonia, the richest region in Spain. Of the 7.5 million Catalans, between 600,000 and 1.5 million—an astounding 8% to 20% of the population!—protested in the streets, demanding independence.
Antagonism between Catalonia and Spain has simmered for a long time. But the financial fiasco that Spain is mired in deepened the fissures. Out-of-money Catalonia had to ask the central government for a bailout. Catalans are frustrated. They claim that under the current fiscal setup, Catalonia transfers €16 billion annually to the central government, and that these transfers bankrupted the region. Now, in exchange for the bailout, the central government has imposed austerity measures that cut into health care, education, and other services.
Read More @ TestosteronePit.com
Finally, please prepare now for the escalating economic and social unrest. Good Day!
Spain has enough problems: a debt crisis, a hangover from a housing
bubble, unemployment of over 25%, youth unemployment of over 50%,
massive demonstrations against “structural reforms” that the government
is trying to implement in its desperate effort to keep its chin above
water…. And now it has a new one: the possible breakup of the country.
The military has already chosen sides. It started last week in Barcelona, capital of the Autonomous Region of Catalonia, the richest region in Spain. Of the 7.5 million Catalans, between 600,000 and 1.5 million—an astounding 8% to 20% of the population!—protested in the streets, demanding independence.
Antagonism between Catalonia and Spain has simmered for a long time. But the financial fiasco that Spain is mired in deepened the fissures. Out-of-money Catalonia had to ask the central government for a bailout. Catalans are frustrated. They claim that under the current fiscal setup, Catalonia transfers €16 billion annually to the central government, and that these transfers bankrupted the region. Now, in exchange for the bailout, the central government has imposed austerity measures that cut into health care, education, and other services.
Read More @ TestosteronePit.com
from WallStForMainSt:
In this 45+ minute discussion, Jason Burack and Mo Dawoud of Wall St for Main St, LLC talk about the impact of the last 14 days of coordinated global stimulus/QE by the central banks in the EU, US, Japan and China. The impact on the real economy and the impact on investing portfolios are also discussed at length. Japan’s impending collapse is also discussed at length.
Today’s Items:In this 45+ minute discussion, Jason Burack and Mo Dawoud of Wall St for Main St, LLC talk about the impact of the last 14 days of coordinated global stimulus/QE by the central banks in the EU, US, Japan and China. The impact on the real economy and the impact on investing portfolios are also discussed at length. Japan’s impending collapse is also discussed at length.
[Ed. Note:
Just like the thieves at Enron, JP Morgan is allegedly manipulating the
electricity market and fleecing folks. Given what JPM does in the
silver market and their penchant for drug money laundering, is anyone surprised?]
from finance.yahoo.com:
The Federal Energy Regulatory Commission has accused J.P. Morgan
Ventures Energy Corp. of misleading regulators and said its authority to
sell electricity might be suspended.
FERC issued an order today that directs the unit of New York-based JPMorgan Chase & Co. (JPM) to show that it didn’t violate FERC regulations and explain why its authorization to sell electric energy and related services at market-based rates should not be suspended.
“That can be more serious than a penalty, that could be more serious than disgorging profits,” said Susan Court, principal at SJC Energy Consultants LLC in Arlington, Virginia, and a former FERC enforcement director. “That could entail a lot more money than just paying a penalty.”
The order is part of FERC’s effort to increase transparency and eliminate manipulation of the electricity market. The agency is investigating JPMorgan’s power trading in California and the Midwest.
Read More @ finance.yahoo.com
from finance.yahoo.com:
The Federal Energy Regulatory Commission has accused J.P. Morgan
Ventures Energy Corp. of misleading regulators and said its authority to
sell electricity might be suspended.FERC issued an order today that directs the unit of New York-based JPMorgan Chase & Co. (JPM) to show that it didn’t violate FERC regulations and explain why its authorization to sell electric energy and related services at market-based rates should not be suspended.
“That can be more serious than a penalty, that could be more serious than disgorging profits,” said Susan Court, principal at SJC Energy Consultants LLC in Arlington, Virginia, and a former FERC enforcement director. “That could entail a lot more money than just paying a penalty.”
The order is part of FERC’s effort to increase transparency and eliminate manipulation of the electricity market. The agency is investigating JPMorgan’s power trading in California and the Midwest.
Read More @ finance.yahoo.com
Brazil’s finance minister has warned that
QE3 will reignite the currency wars with potentially drastic
consequences for the rest of the world. QE3 will only have marginal
effect on the US economy; however, the inflation caused will have
detrimental effects on global scale. While Brazil’s threats are
undermined, as of now, it is beginning to become a chorus of those who
want the U.S. Dollar’s reign, as the world’s reserve currency, to end.
Get ready folks, we are now hearing the
reason for the next possible black swan event. The possible cause of
another stock market flash crash, like the one on May 6th, 2010, is
officially being blamed upon super high-speed computer trading.
Excuse me, since when did trade computers get a mind of their own?
Are they not following the instructions of those who program them?
These computers are stealth-fully pumping and dumping stocks; as per
their Wall Street programmers commands. Then again, with JP Morgan,
Citigroup, and Bank of America under attack by NSA err… Iranian hackers, this could be a psych-op err… concern regarding the derivatives market.
After the recent tungsten gold episode,
Egon von Greyerz believes people should only have physical gold and
silver and it should be bought from reliable sources. Because gold
are often melted down for smaller bars, the LBMA
system is a pretty much guaranteed for getting real gold. For
smaller investors, like myself, I like physical gold and silver
coins. Anyway, in 2008, central banks printed about $25 trillion in
currency to kick the can down the road; however, the bounce created is
over an everything is now turning down. As the currency is debased,
with further printing, expect physical commodities to shoot up.
Labor Secretary Hilda Solis is pretty darn
happy about the fact that unemployment for Americans ages 16-24 is 17.1
percent. She is happy because it is 2 percentage points lower than
in 2010; however, the question is how many of these people have simply
given up looking for jobs?
Ignoring her tenor-ship as Speaker of the
House, Moonbat Nancy Pelosi tried to blame Bush, yet again, for the
economy. The House of Representatives has the financial purse
strings; thus, government spending comes from the House. She and
politicians, in both political parties, have equal share in increasing
deficits, debt, unemployment, war, and big government.
Government Motors is recalling nearly
474,000 Chevrolet, Pontiac and Saturn sedans globally to fix a gearing
condition that could lead the cars to roll when the drivers think they
are in park. Guess the Union-workers who built these cars believed
“P” on the gear meant “Push.” Perhaps, GM is fast becoming the
American version of the Yugo. Unreliable sources claim that GM will
now offer a block of wood for $99 to help improve the safety of the car
when parked.
Photos of the new Chinese stealth fighter
recently surfaced on the Internet. The single-seat, twin-engine
fighter has been designated as the J-21 or the J-31 which looks similar
to the F-22 Raptor. Obama cancelled the F-22 stealth fighter project. Perhaps we now know where Obama got the $35,000,000 with which to buy his new mansion in Hawaii.
Total Donations over the last 3 1/2 years. approx $165.00 (Thank You). Donations will help defray the operational costs. Paypal, a leading provider of secure online money transfers, will handle the donations. Thank you for your contribution.
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