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mcostigane

mcostigane
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  • Dealing a blow to precious metals, the Chicago Fed's Charles Evans - as dovish as they come - tells CNBC QE could end before unemployment sinks to 7%. As for the 6.5% unemployment rate that might trigger rate hikes, Evans doesn't see that happening until mid-2015. GLD -0.7%, SLV -1.5% premarket. The dollar gets a bid as well, UUP +0.4% premarket. [View news story]
    of course he is lying as they can never stop

    just another buying opportunity for the physical
    Feb 7 09:34 AM | 9 Likes Like |Link to Comment
  • "The Real Bubble is Gold: and It's Deflating," writes MKM's Mike Darda, who says the key turning point was the metal's (GLD. IAU) failure to rally in wake of last fall's QE∞ inception. "Investors simply took it at face value that gold was soaring and would continue to rise because of (the Fed)." Inflation picking up will be even worse for gold, he says, as this would make the Fed an aggressive tightener of policy. [View news story]
    what an utterly clueless comment
    May 23 11:57 AM | 8 Likes Like |Link to Comment
  • Sterling rallies after what will be considered a coup for the Cameron government in nabbing Canada's Mark Carney as Bank of England Governor. Carney is also head of the global Financial Stability Board and was the target of a Jamie Dimon tirade over his insistence on tough bank capital rules. Carney's 5-year term is set to being on July 1. Lower earlier, cable is now flat at $1.6026. Canada's loonie weakens by about 15 pips. [View news story]
    Now that he's loaded Canadians up with record levels of personal debt and helped in creating an epic housing bubble I guess he figured it was time to get out of dodge.

    Goldman's global domination is nearly complete
    Nov 26 11:20 AM | 6 Likes Like |Link to Comment
  • In a speech titled "Too soon to relax," San Francisco Fed chief and member of the dovish wing of the FOMC John Williams nevertheless says he thinks we could see substantial improvement in the labor market by summer. "If that happens we could start tapering our purchases then ... we could end the purchase program sometime last this year." [View news story]
    it's all about keeping everyone confused....one fed mouthpiece says no QE, only to be contradicted by another fed mouthpiece a few days later

    make no mistake, they can never stop now
    Apr 3 04:03 PM | 4 Likes Like |Link to Comment
  • Target chairman/CEO Steinhafel resigns [View news story]
    the entry into Canada was a MASSIVE botched failure
    May 5 10:25 AM | 3 Likes Like |Link to Comment
  • Notoriously poor market-timers, the central banks purchased 534.6 tons of gold in 2012, according to the World Gold Council. It's the largest amount the banks - last seen unloading their gold at less than $500/oz. - have bought since 1964. [View news story]
    oh I dunno, timing seems just about right for siphoning all the wealth from western central bank vaults
    Feb 14 12:06 PM | 3 Likes Like |Link to Comment
  • With "conventional" QE not bringing the global economy out of its malaise, ever-more radical ideas are gaining proponents. One is QE for the people - or QEP, or helicopter money - or handing out free cash, while another is giving governments back the exclusive right to create money, which they've lost to commercial banks. This would apparently restore growth and eliminate government debt without tax increases or spending cuts. When something sounds too good to be true... [View news story]
    fiat currencies are finished

    the endagame is predictable and unstobsable

    it's simply a matter of how much money you want to make out of the situation
    Oct 28 10:02 AM | 3 Likes Like |Link to Comment
  • Gold suffers its worst selloff in 2 months, down 3.1% to $1,665/ounce as risk is very much off this morning. We forget, is gold supposed to rise or fall when financial markets turn south? On the industrial side, copper slides as well, -3.2% to $3.44/pound.  [View news story]
    Euro bank PM liquidation to obtain USD or Euros for capital requirements ......BTFD
    Dec 12 12:47 PM | 2 Likes Like |Link to Comment
  • Evans adds new demands in order to cut stimulus [View news story]
    in the words of Buzz Lightyear........to infinity and beyond!!
    Oct 17 01:19 PM | 1 Like Like |Link to Comment
  • Warning From The Yield Sector [View instapost]
    amazing work Kevin. Thank you
    Aug 30 03:38 PM | 1 Like Like |Link to Comment
  • "U.S. housing has turned the corner in every way, shape, or form," says Jamie Dimon (JPM), speaking at the Morgan Stanley conference. The corporate world is in great shape in terms of liquidity, and small business is kind of back to where it was, but the political environment is a "wet blanket" on the economy. On reserve releases: We don't do it to prop earnings, we're forced to do it. "I'd love to leave them up." [View news story]
    psssst........he's lying
    Jun 11 05:03 PM | 1 Like Like |Link to Comment
  • Stocks turn down at lunchtime, the Dow (DIA -0.3%), S&P 500 (SPY -0.2%), and Nasdaq 100 (QQQ -0.4%) all at session lows as some may be trimming positions ahead of what should be a vital employment report tomorrow morning. Long-term Treasury prices (TLT +0.4%) move to their highest levels in about 2 weeks. [View news story]
    have the horrible job numbers been leaked?
    Jun 6 12:20 PM | 1 Like Like |Link to Comment
  • The gold bear market/correction continues with the metal sliding to $1,537/oz., the lowest since last summer. Looking at a longer-term chart, gold has bounced off the low-mid $1,500 level a few times over the last 18 months.  A drop below that would break what the technicians like to call "long-term support." The pattern in silver is similar. GLD -1.6%, SLV -2.2% premarket. [View news story]
    this is an unprecedented orchestrated takedown via paper markets

    clouds overhead
    Apr 12 10:46 AM | 1 Like Like |Link to Comment
  • Looking For Income And Safety? Check Out Canada's Big 5 Banks [View article]
    Financials are financials...they are all linked and it's all risky at this point. For sure Canadian banks are the best of a bad lot, but they too are vulnerable. Our housing bubble has yet to pop here (believe me, there is one) and when it does, these banks will be feeling pain I think.
    Nov 23 09:54 AM | 1 Like Like |Link to Comment
  • JPMorgan (JPM -1.1%) does a little bargain shopping, as it closes in on picking up MF Global's (MFGLQ.PK) 4.7% stake in the London Metal Exchange. Sources tell Reuters that the $39M deal - which would up JPM's stake in the LME to over 10% - could be announced as soon as next week. [View news story]
    Excellent! More PM market manipulation by the good folks at JPM.
    Nov 22 11:46 AM | 1 Like Like |Link to Comment
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