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“Germany’s finance minister has warned Cyprus that its crisis-stricken banks may never be able to reopen if it rejects the terms of a bailout.”
“There may have been jubilation among many Cypriots at Tuesday night’s parliamentary defeat of the hated banking tax, but now the country faces a tough reality.”
http://en.mercopress.com/2013/03/20/germany-warns-cyprus-banks-might-never-reopen-if-terms-of-bailout-are-rejected
Cypriot leaders held crisis talks on Wednesday to avert financial meltdown after rejecting the terms of a controversial European Union bailout, turning instead [...]
arabianmoney.net / January 20, 2013
Gold bugs can hardly have missed the GFMS Gold Survey for 2012 that reported global central banks bought more gold in 2012 than at any time in the past 50 years, a net 536 tonnes of the yellow metal. The global money printers clearly know the value of the one money that they cannot create from thin air.
This is being hailed as a step by step [...]
Charles Hugh Smith
Of Two Minds
October 9th, 2012
Many times what “should” happen does not happen. For example, global stock markets “should” decline as the global economy free-falls into recession, as global recession is not exactly an ideal scenario for rising corporate sales and profits or demand for commodities.
Yet global markets are by and large rising significantly.
Sometimes what “should” happen is simply being delayed. In other cases, some other dynamic is at work. Stock [...]
by GoldCore
Today’s AM fix was USD 1576.50, EUR 1284 and GBP 1012.91 per ounce.
Yesterday’s AM fix was USD 1594.50, EUR 1293.29 and GBP 1026 per ounce.
Gold fell by $19.40 in New York yesterday and closed down 1.2% at $1,568.40/oz. Silver fell 1.8% or 50 cents to $26.84/oz.
Gold gradually ticked higher in Asian trading and has kept those gains and seen slight further gains in European trading.
Cross Currency Table – (Bloomberg)
This [...]
by GoldCore
The Effects of Increasing Global Money Supply on Gold
Today’s AM fix was USD 1581, EUR 1287.15 and GBP 1020.66 per ounce
Friday’s AM fix was USD 1591.75, EUR 1285.54 and GBP 1024.29 per ounce.
Gold fell by $20.60/oz in New York on Friday, closing at $1,583.80 with a small 0.93% loss on the week. Silver closed at $27.11/oz with a 1.35% loss.
Gold is little changed in Asian and European trading [...]
From A Lightning War for Liberty:
I have no idea why anyone is making a big deal about “The Bernank’s” testimony to Congress [yesterday]. There was no way he was going to come out with anything meaningful.
The only thing our favorite Keynesian sorcerer wants to do is get through the session in as painless a manner as possible. It would be completely foolish to rock the boat in any way during [...]
NEW YORK (Commodity Online):
In one of the highest predictions yet made by an investment bank analyst, Bank of America’s MacNeil Curry sees gold prices hitting $7000/oz before ending the uptrend.
According to MacNeil, commodity bull markets end with a massive speculative blow off and they don’t end quietly. If gold was topping out, the daily ranges would have span around $200/oz and we have not seen anything like it.
“Until we see [...]
For the first time in 5 months, hedge funds and money managers have increased long futures positions over 1 million long contracts, a symbolic level explaining rises last week of 8% in Lead, 7.5% in Aluminum and almost 7% in Zinc. Bullish contracts on gold also rose to a five-month high as the monetary metal sits above the $1,764 pivot, and important level for technical traders. Investors added $571 million [...]
Peter Cooper
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February 22, 2012 – 8:14am
What’s been holding the price of silver below $34 this year? It’s been the possibility of a disorderly default by Greece. Now that we have an orderly default, and what else is a 73 per cent loss for private bondholders, things have changed.
But the price is very high. $170 billion is the highest sovereign debt restructuring in history. The ECB has made north of $1.5 [...]
From Economic Policy Journal:
Jim Rogers, who received the Mises Institute’s Schlarbaum Prize for the lifetime defense of liberty in 2010, proved today that he deserved the award.
“If you listen to governments, then you are not going to make a lot of money. Governments lie, distort, and make mistakes,” he said this morning on CNBC.
And, he clearly recognizes the near-global money-printing now being conducted by central banks.
“My way of playing this [...]
“But please, to our friends in the Big Media, could we stop saying that we don’t know the location of the missing $1.6 billion of client funds from MF Global? The money is safe and sound at JPM and other counterparties. As with Goldman Sachs et al and American International Group, the banks have been bailed out at the cost of somebody else. And the various agencies of the federal [...]
From Jesse’s Café Américain:
“But please, to our friends in the Big Media, could we stop saying that we don’t know the location of the missing $1.6 billion of client funds from MF Global? The money is safe and sound at JPM and other counterparties. As with Goldman Sachs et al and American International Group, the banks have been bailed out at the cost of somebody else. And the various agencies [...]
Larry D. Spears: The U.S. dollar will start 2012 on an upswing – but don’t let it fool you. What we’re seeing is only a short-term rally inspired by Europe’s travails. In the long-term, the U.S. Federal Reserve‘s loose monetary policy and the United States’ own Debt burden will drive the greenback back down.
That’s the consensus among experts who follow the global money markets and the leading currencies, including several of Money Morning’s own analysts.
“The dollar is going to rally [...]
Uploaded by CapitalAccount on Dec 13, 2011
Watch more Capital Account @ Http://Www.Youtube.Com/CapitalAccount
Http://Twitter.Com/Laurenlyster
Http://Twitter.Com/Coveringdelta
Today MF Global’s former executives, the CFO and the COO, along with Jon Corzine, the former CEO, testified before the senate agriculture committee. They told the committee that they don’t know how an estimated 1.2 billion dollars in customer funds went missing. Unfortunately, all three of them could not offer an explanation, with both Henri Steenkamp and Bradley Abelow saying that they [...]
kingworldnews.com
With gold trading, at one point, down over $50 intraday, today KWN wanted to speak with the firm that is calling for $10,000 gold. Paul Brodsky, who co-founded QB Asset Management Company, had this to say about bearish predictions which anticipate a significant drop in the price of gold, “What we do specifically is take a strategic approach rather than a tactical approach. When we look at day to day [...]
From Gold Core
US Money Supply Surges Surges 33% in 4 Months – Global Money Supply to Lead to Gold $10,000/oz?
Gold is trading at USD 1,623.80, EUR 1,177.95, GBP 1,027.01, JPY 124,535.72, AUD 1587.39 and CNY 10,354/oz.
Gold’s London AM fix this morning was USD 1,623.00, GBP 1,027.02 and EUR 1178.14 per ounce.
Yesterday’s AM fix was USD 1,629.00, GBP 1,033.24 and EUR 1,180.17 per ounce.
U.S. M2 Money Supply: Accelerating Sharply in 2011
Gold prices [...]
US Money Supply Surges Surges 33% in 4 Months – Global Money Supply to Lead to Gold $10,000/oz?
Gold is trading at USD 1,623.80, EUR 1,177.95, GBP 1,027.01, JPY 124,535.72, AUD 1587.39 and CNY 10,354/oz.
Gold’s London AM fix this morning was USD 1,623.00, GBP 1,027.02 and EUR 1178.14 per ounce.
Yesterday’s AM fix was USD 1,629.00, GBP 1,033.24 and EUR 1,180.17 per ounce.
U.S. M2 Money Supply: Accelerating Sharply in 2011
Gold prices are [...]
Read on for some brilliant observations…
From Sean Corrigan of Diapason Securities
In his recent Congressional testimony, our dangerous monetary Dr. Moreau was forthright in defence of his latest wild experiment in inflationism, saying that the rate of the fall in the value of people’s money was “expected to persist below the levels that Federal Reserve policymakers have judged to be consistent with their mandate.”
Obviously, the Chairman has [...]
By John R. Taylor, Jr.
Chief Investment Officer, FX CONCEPTS
Studying Italian history forty years ago I learned that the major reason behind the peninsula’s decline
from Renaissance greatness to its sickly position in the mid-19th century was its loss of economic
advantage. Political chicanery and internecine wars played a lesser role to the opening of the Atlantic,
which eliminated its dominance in international trade, and to Italy’s lack of physical resources. No coal,
no iron [...]
by Robert Wenzel | EconomicPolicyJournal.com |Â January 20, 2011
“An EPJ reader writes:
I met you, briefly, in Boston during the Murphy-Wenzel lectures at the Omni Parker…
Confidentially, by way of background, I manage all aspects of funding for a large commercial finance company… I have been extremely active in the wholesale capital and securitization markets for the past 10 years raising well over $2 Billion of structured debt credit [...]
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