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Gold and oil don't seem to expect much from the FOMC today, the metal -1.2% and WTI crude -1.8%....

Gold and oil don't seem to expect much from the FOMC today, the metal -1.2% and WTI crude -1.8%. Crude added to already solid losses on the release of storage data showing an unexpected build in inventories.
Comments (13)
  • The Fed is caught between a rock and a hard place. They have put us in this situation with propping up the market with QE1 & QE2. What ever happened to free markets. They need to do nothing and let the chips fall as they should. What we need is fiscal responsibility around the world along with income distribution. If not, we are headed for a fiscal cliff along with civil strife. If you are 25 and can't find a job, what does one expect from the young?
    20 Jun 2012, 11:41 AM Reply Like
  • I curious to know just what you mean by "income distribution"?
    20 Jun 2012, 12:46 PM Reply Like
  • Ask Robin Hood.
    21 Jun 2012, 01:41 AM Reply Like
  • alpha63: By income distribution I mean a tax system which gives a better break to those earning less. The problem we have is the disparity of incomes. I find it repulsive that some CEO's make $50 million and yet a minimum wage earner makes $15,000. Capitalism works, however when greed takes over, we are doomed. The markets are based upon the next quarter, all s/t. To increase EPS, companies are laying off thousands. What do we accomplish. Less taxpayers, less consumers, and a mover towards recession. It's a spiral that leads down. Most boards and CEO's don't give a shite about their employees. It's not the employees fault, however they always pay the price. Look at Goldman Sacs. Not one executive has stood accountable for what happened with the sub prime. There are different rules for those who have and those who do not. This will only last so long, before we see people taking to the streets.
    21 Jun 2012, 09:09 AM Reply Like
  • Income distribution as in taxing heavily the 1% and raising the other 99% paychecks for instance, real measures to fight unemployment, de-outsource, etc.
    21 Jun 2012, 11:01 AM Reply Like
  • The Fed created a manipulation bubble.It will soon burst.Out of it will be exploding commodity prices. That is what inflation is. All nations' paper money will be worth much less. All prices will shoot up.Gold because it is already money along with silver ,will see their price really sky rocket.
    20 Jun 2012, 12:49 PM Reply Like
  • Commodity prices, especially oil are strangling the economy. I believe the rise in consumer energy prices after the first of the year caused this slowing and economic stall. If the oil companies would stop being so darned greedy and testing new highs, everyone would benefit but that's not how capitalism works, right?
    20 Jun 2012, 12:51 PM Reply Like
  • Oil companies fix oil prices now?
    20 Jun 2012, 03:06 PM Reply Like
  • Capitalism is alive and working. Its natural laws are just like gravity, inertia, and the speed of light. Sometimes some laws are ignored or misused a little, by mankind. When these laws are broken a whole agency of NGM's come in to the picture and try to fix it when it is not broken. The more they adjust and tamper with the 'laws', the more we move away from capitalism. It is the NGM's form of capitalism, and it will not work. Things are not getting better, [economically speaking], they are getting worse on a daily basis.


    I can tell by the emails I get from the internet that show the fear that is rising, the distrust, the wariness of the American people. There is a rising crescendo of welfare 'needs', for do gooders to continue to try to make the haves feel like we did something wrong because they 'have' something, the 'have-nots' don't. Pretty soon, it will be not worth it for the 'haves' to keep working because their work will not be for them, but for those who live on others. Capitalism cannot live on a level playing field. Fair, equal, legal, yes, but level no. Figure it out. The very fiber of freedom requires capitalism. and the more freedom you lose, the more capitalism does not work. Freedom and capitalism, are twin brothers, joined at the hip, one cannot live without the other.


    The haves have something because they worked for it. Those on welfare are not trying to get off welfare, they are working to stay on it. Without beating that drum too long or loud, I digress to the simple saying, "Socialism works just fine, until the money runs out."
    It has run out long ago, when the national debt began to rise disproportionately with the tax income of the government. Listening to the static and noise put out we are to believe inflation is not a problem and deflation is not good either. When the entire story is told regarding the economy, and outlook, it falls together. The facts would be clear to anyone that a change of the guard is a must if American is to survive as we know it. Neither Democrats nor Republicans are showing me a willingness to do the right things and they are so easy. It is not politically expedient to do what is right. If Ron Paul were to win, and be given a chance at a full term, you would see a difference soon. I wish I had the brains to be president, but they would eat me alive.


    If I were king, those on welfare would not be able to vote. This way, those politicians who get votes from freeloaders would be out of luck.


    I believe in welfare, to those who need it. Someday I will propose how a working welfare system should be set up.


    So, if you are not concerned with anything but investing, then go for the gold.


    Soon now, I will sell all my stocks of all kinds except PM's. Perhaps GDXJ will be a winner, or a good silver ETF, or just owning silver eagles, or a some of each.


    In any case, we are close now to a new era. Hope it is not too bumpy.


    If the government has to intervene in the process of supply and demand to level it out, then the economy is not well, it is sick. It must run thru the fever without legislating prosperity, that is impossible.


    Eurozone has lit the fuze. Debt here and abroad is the cause. The fuze was lit in Athens and this fire is going to spread rapidly. Bank runs have begun.


    Capt. Brian
    The Lost Navigator
    21 Jun 2012, 01:35 AM Reply Like
  • While I agree with you that there are many who cheat the system and are on welfare for a free ride, it is shallow to paint all with the same brush. Look at Spain. Kids from 18 - 30, 50% are unemployed. Is it their fault that their government, bankers and the system has failed them. What we need are leaders who are honest, fair and treat people with respect. When I look at the entire world, it is very bleak. Greed, greed and more greed. Capitalism is the best system in the world. Unfortunately, it is the few who ruin it for us all. If we had true capitalism, we would not have bailouts, QE, manipulation, and cronyism. Enough said. We are headed for a government debt bubble burst and a $US burst.
    21 Jun 2012, 09:17 AM Reply Like
  • Capitalism it's not a natural object, it's a man-made artifact, it's laws are not natural and "just like gravity, inertia and the speed of light".
    21 Jun 2012, 11:01 AM Reply Like
  • No representation without taxation.
    21 Jun 2012, 11:01 AM Reply Like
  • Do away with income tax and just have flat consumption taxes and ditto corporate tax. If you consume or ship something, tax the transaction. People have heartburn because jobs have been outsourced overseas and corporation are not paying increases taxes on the goods that come in on container ships to this country. Consumers are not benefiting from decreased prices. Prices are higher than ever in stores.
    21 Jun 2012, 11:44 AM Reply Like
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