Numbering close to one thousand, heavily armed demonstrators, some in wheelchairs and some in strollers, descended upon the Michigan State Capitol building in Lansing on Wednesday March 20th to draw a line in the sand, telling the Federal government in no uncertain terms that they would oppose any attempts to register or ban any type of currently legal firearm or accessory.
by Kerry Lutz, Financial Survival Network:
I hope you’ve heard my latest interview with Ranting Andy Hoffman concerning the bank theft taking place in Cyprus. If not, please go listen now. It is very important that you understand exactly what’s going on and how it’s going to affect you. Every thinking person on the Internet is talking about it and yet the mainstream media has reported upon it in the most perfunctory manner, [...]
London Gold Market Report
from Ben Traynor
Wednesday 9 January 2013, 12:30 EST
“Gold Correction Awaited” in India, US Monetary Policy “Gives No Reason to Change Bullish View on Gold”
THE SPOT gold price hovered above $1660 per ounce Wednesday morning in London, slightly up on the week so far, before dropping through that level ahead of US trading.
“[Gold] continues to consolidate last week’s down move from $1694 to $1627,” says the latest technical analysis from [...]
This line could set off a “major sell signal” for stocks
The stock market action this year is eerily similar to 2007.
Back then, the S&P 500 started off the year with a strong rally before a summertime correction gave back all the gains. Stocks rallied again and hit their highs of the year in October. Then we got a sharp drop in November and a rally to a lower high in [...]
Treasury Secretary Timothy Geithner drew a line in the sand over taxes in defense of the Obama administration’s controversial proposal to avoid the fiscal cliff.
In an interview with CNN’s Candy Crowley on “State of the Union,”Geithner insisted that any compromise on the plan he presented to congressional Republicans on Thursday, which includes $1.6 trillion dollars in tax revenue, cuts to Medicare, and another $50 billion in stimulus spending, must contain [...]
Bruce Krasting: President Obama Has Drawn A Dangerous Line In The Sand
So both Boehner and Obama have done their post election photo ops. They have spelled out their positions on the looming fiscal cliff. No surprises at all. The Republicans are saying “No” to any increases in tax rates while Obama has said he will outright veto any bill that is presented to him that does not raise taxes on rich folks.
I was [...]
Wonder why markets keep going lower?
Is there wiggle room in fiscal cliff negotiations?
Both sides of the aisle have taken hardline stance on higher tax rates for wealthy Americans. So, is there any wiggle room in the negotiations to avoid the fiscal cliff? Wyatt Andrews reports.
Boehner: Obama “has to lead” on taxes, immigration
Bruce Krasting: President Obama Has Drawn A Dangerous Line In The Sand
So both Boehner and Obama have done their post election [...]
Inflationists Will Be Shocked By One Detail In Today’s Consumer Confidence Report
Earlier this morning, we learned that the widely followed University of Michigan consumer confidence reading jumped to 83.1, a five-year high. This was driven by a jump in consumer expectations.However, one of the more interesting sub-components of the report was drop in inflation expectations.
“Inflation expectations fell in both the 1yr and 5yr space, with 1yr expectations falling to 3.1% from [...]
A series of ratings downgrades from Moody’s last week has created an unwelcome but manageable liquidity squeeze on three major banks, by forcing them to post billions of dollars in additional collateral against derivatives exposures.
Moody’s completed its rating review of international banks last Thursday and downgraded three major derivatives dealers below the crucial Single A threshold, which will likely have led to hefty collateral calls from counterparties.
Citigroup’s two-notch long-term rating [...]
President Vladimir Putin began his third mandate under the sign of sovereignty in the face of direct threats launched against the Russian Federation by the United States and NATO. Moscow has repeatedly denounced the expansion of NATO, the installation of military bases, the deployment of a missile shield on its borders, and the destruction of Libya and the destabilization of Syria.
In the days following his inauguration, Mr. Putin reviewed the [...]
Update: Here we go - SPAIN TO NATIONALIZE BANKIA LATER TODAY - ABC Source
From Peter Tchir of TF Market Advisors
The Pain In Spain Is Mainly, Well, Everywhere
The reality is Greece is largely noise. Greece will eventually leave the Eurozone, but not this month. The hardliners inside Greece will realize they need some time to organize. The markets will have spooked the hardliners outside of Greece that they should play nice for a little bit, because forcing [...]
Apple just sued Samsung in a California court over alleged patent infringement. The offending product, according to Apple: the Galaxy Nexus, the world’s first phone to run Android 4.0 “Ice Cream Sandwich.”
If successful in its lawsuit, Apple could block the phone from being sold in the U.S., Reuters reports.
The story may sound familiar. Apple and Samsung have sued or are suing each other in more than 10 different countries — from Australia to Germany — over supposed patent [...]
EXCLUSIVE: Internet sites may be conducting their blackout but Hollywood studios are conducting a boycott. I’ve learned that Hollywood studio chiefs individually and as a group are drawing a line in the sand on the piracy issue with the Obama re-election campaign and refusing to give any more donations. The blowup came after President Obama on Saturday dashed moguls’ hopes that he would remain on the sidelines in the dispute over the U.S. House Of Representatives’ Stop [...]
There is a sense of incredulousness regarding the recent price action. The market seems to levitate day in and day out despite the news. Dips are limited to 15 minutes of intra-day action. Volume? We don’t need no stinking volume. From this observer’s vantage point, it just doesn’t smell right, but who am I to argue with the market? Since the low on October 4, the SP500 has traveled 20%. [...]
It would appear that the German public (and political class to some extent) are beginning to see the European project in the same manner as we described back in July. As the increasing burden of saving the eurozone from its own excess falls on the shoulders of every Tobias, Dirk, and Heike taxpayer in Germany, even industry leaders, such as Wolfgang Rietzle, the CEO of Linde, this weekend according to Reuters, are [...]
1) Alabama’s Jefferson County May Vote on Bankruptcy Filing Today
“The Jefferson County Commission will consider filing the nation’s biggest municipal bankruptcy today, according to a resolution approved by a committee.
The Alabama county’s leaders also may vote to approve a settlement with holders of $3.14 billion in debt or to continue negotiations, according to a resolution approved yesterday that the full commission will consider at 9 a.m. local time.”
2) Italy Nears Tipping Point [...]
With tonight’s multi-year record CNY fixing and trillions being flushed at maintaining an arbitrary JPY line in the sand, it seems appropriate to re-consider how to hedge a China hard landing and what probabilities various asset classes are assigning to it occurring. While many are pointing to what seems an entirely capricious level of 79.20 JPY to the USD as the ‘new normal’ being defended, we were curious at [...]
by The Economic Collapse
Millions of Americans are about to get stabbed in the back by their banks. Bank of America, JPMorgan Chase, Wells Fargo, Citibank and several other large banks are either already implementing outrageous new bank fees or are currently testing them. So are these ridiculous new bank fees going to be enough to get millions of Americans to finally boycott the big banks? [...]
After last week’s selling pressure, investor sentiment remains ugly and bearish. This is expected. Nonetheless, prices on the SP500 still remain above our “line in the sand” at 1133.65. This level was tested and so far has held. This sets up a low risk entry for those looking to go long. But understand this is bear market, and capital should be protected vigorously. A weekly [...]
A month after a prominent human rights group accused major American brands of purchasing clothing from a factory in Jordan that systematically abuses workers, the companies have yet to declare any public action.
In June, the Institute for Global Labour and Human Rights released a report alleging that workers producing clothing for Walmart, Target, Macy’s, Kohl’s and Hanes at a factory in Jordan have been routinely beaten, [...]
In a meeting with a small group of reporters in his Capitol Hill office this morning, House Speaker John Boehner, R-Ohio, criticized President Obama and White House officials for their lack of resolve in negotiations.
“Dealing with them the last couple months has been like dealing with Jell-o,” Boehner said. “Some days it’s firmer than others. Sometimes it’s like they’ve left it out over night.”
Boehner explained [...]
By Bill Frezza
If you were heading into a complex and lengthy negotiation would you put your key lieutenants on national television to declare how totally screwed you would be if the other side didn’t give you exactly what you wanted right now with no strings attached?
Would you draw a line in the sand and claim that crossing it would be the end of the world [...]
A Connecticut legislator has taken a drastic measure to avoid people on the street complaining to him about increased taxes.
How much are legislators feeling the pressure of voting on a budget that raises taxes during an economic crisis?
Rep. Zeke Zalaski, a Democrat from Southington, has taken the legislative plates off his car because of complaints he gets about taxes when he fills up with gas, he [...]
by Philip Taylor
Hereâ€™s a tip. Wall Street is in big trouble and it is NOT JUST Raj!Â This is about far more than ONE hedge-fundÂster in the $2 TRILLION INDUSTRY.Â It is more about trading onmaterial, nonpublic insider informatioÂn commonly passed around by the clubby elitists, so-called expert networks, of the financial world.Â Regulators are supposedly drawing a new line in the sand on acceptable practice on Wall Street.
by Boca Joe
Making the scam work!
After watching the stock casino action for the last five days of August, 2010, an idea occurred to me that I would like to share. When we look specifically at the Dow Jones Industrial Average, I think we would all agree that something very strange is going on. Well, maybe â€˜strangeâ€™ is not the right word. I think we all know exactly what is going [...]
The day session was the big fizzle to the overnight fireworks. The overnight session was the largest advance in the globex, the largest range in history, since the advent of the futures market.
Additionally, It is very rare to see a day that has a globex range that far exceeds the day range. That is what happened with Sunday nightÃ¢â‚¬â„¢s gargantuan rally actually giving way somewhat in the day session. We [...]