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minecanary

minecanary
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  • Herbalife plunges on DOJ/FBI probe report [View news story]
    Amazing that you can get the SEC, FTC, FBI, and DOJ investigating the sale of herbs and milkshakes and they can't find one banker who might be guilty of anything even after they pay 30-40 billion to settle investigations. This crap has got to change.
    Apr 11 05:38 PM | 27 Likes Like |Link to Comment
  • Obama nominating Yellen to be Fed chief [View news story]
    That should be good enough to cement a downgrade in our credit rating. Go metals!
    Oct 8 07:19 PM | 13 Likes Like |Link to Comment
  • Roger Lowenstein pens an epic love letter to Ben Bernanke in The Atlantic. "The left hates him. The right hates him even more. But Ben Bernanke saved the economy - and has navigated masterfully through the most trying of times." Whatever one's opinion of the man thankfully not yet being called "The Maestro," stuff like this tends to come a lot closer to market tops than bottoms.  [View news story]
    Saved? We're $4 Trillion further in debt, plus the Fed is carrying another $3 trill on it's books (which is like we sold it to ourselves) and Europe has another $4 trillion new on their books. The bankers got richer and the entire general public got porked. Now the big financial institutions are just plain stealing the money from customer accounts and nobody is at fault...Those chickens will be coming home to roost. We're saved like being nailed to a cross.
    Mar 14 10:25 AM | 13 Likes Like |Link to Comment
  • Precious metals see a bout of major buying, with gold (GLD +1.5%) jumping about $25/ounce in the past few minutes, and silver (SLV +4.8%) soaring nearly a $1. Bearish for some time, Mark Dow reminds gold has been going down for 2 years, but the decline has only recently made the headlines. Gold's post-QE run was built on a number of misconceptions which have all cracked. The longs (silver too) are trapped and the bear market isn't close to over.
      [View news story]
    Dow sounds like another of the mainstream shills trying to crush the metals as an alternative to fiat. Physical demand is soaring, countries are banning bullion sales to slow the pace, and capacity is coming offline to further tighten supplies. On the conspiracy side, the US can't return Germany's gold for 7 years???, JPM can't fill the futures orders it's sold on the COMEX, and most of the price declines have been via mass dumping of naked shorts sales during thin trading. I would say it's the shorts that are about to get trapped as the emperor is looking a little under clothed.
    Jun 28 11:08 AM | 10 Likes Like |Link to Comment
  • Gold to 6-month high amid Ukraine worries [View news story]
    Kerry couldn't negotiate a ceasefire at a peace rally. Unless he says Putin can keep Crimea, 1/2 of east Ukraine, and throw bananas at Obama gold will be at $1450 Monday morning.
    Mar 14 09:52 AM | 9 Likes Like |Link to Comment
  • Illinois leaders agree to pension deal [View news story]
    This is a small clip from an email I have about their problems - totally Democrat created and controlled
    Chicago school system rated one of the worst in the country. Can't blame Republicans; there aren't any!
    State pension fund $78 Billion in debt, worst in country. Can't blame Republicans; there aren't any!
    Cook County (Chicago) sales tax 10.25% highest in country. Can't blame Republicans; there aren't any!
    This is the political culture that Obama comes from in Illinois. And he is going to 'fix' Washington politics for us?
    George Ryan is no longer Governor, he is in the prison.
    He was replaced by Rob Blajegovitch who is that's right, also in the prison.
    And Representative Jesse Jackson Jr. resigned a couple of weeks ago, because he is fighting to not be sent to...that's right, prison.
    Nov 28 11:16 AM | 9 Likes Like |Link to Comment
  • Cullen Roche's three bearish signs in a sea of negativity: U.S. rail traffic is grinding to a halt; U.S. manufacturers' new orders have turned sharply negative; and Suez Canal traffic is turning negative. (But things could be worse: three bullish signs.) [View news story]
    But all's we need to do is tax the rich and keep Benny printing for 4 more years and the Dems will look like geniuses....to the 47%
    Dec 8 11:17 AM | 9 Likes Like |Link to Comment
  • Hilsenrath: New Fed exit plan taking shape [View news story]
    So really it's not an exit, just a pause. Then once everybody gets used to a 5 trill balance sheet being normal and the market drops a 100 points, Yeller will suggest that 10 trill is really exceptional. Besides, it should be time to goose Hillary's campaign by then.
    Mar 10 10:47 AM | 8 Likes Like |Link to Comment
  • According to CME reports, J.P. Morgan accounted for nearly all of the physical gold sales at Comex in the last three months, writes blogger Mark McHugh. The sales, representing nearly 2M ounces, is 74% more gold than the U.S. Mint delivered through its American Eagle program in all of 2012. The very idea of "broad-based" selling is a farce, says McHugh. “One thing’s very clear: When it comes to selling physical gold, J.P. Morgan is acting alone.” [View news story]
    So as soon as the judge tossed the GATA lawsuit by saying they hadn't shown JPM intended to effect the price via their shorts, they promptly drive the metals down 30% because they won't be touched.
    Time to remake the entire regulatory system.
    Apr 26 10:43 PM | 8 Likes Like |Link to Comment
  • President Obama is reportedly likely to choose former U.S. attorney Mary Jo White as his nomination for head of the SEC. If White is confirmed, she would be the first prosecutor to head the agency, perhaps giving it a tougher edge. White has won convictions against Ramzi Ahmed Yousef for bombing the World Trade Center and mafia boss John Gotti, although she's not known for expertise in securities law. [View news story]
    How is it going to matter? Fines are paid but nobody is ever guilty or even charged, no wrongdoing is admitted to, and the common man always takes the reaming while the banks rack up huge profits....Even Corzine still walks free.
    Jan 20 11:03 AM | 8 Likes Like |Link to Comment
  • Gold (GLD +0.9%) continues its comeback tour, with a big move in the last 30 minutes pushing the metal into the green for the session and up to $1,344/ounce.  Technician Mark Newton calls this bounce the beginning of a longer-term bottoming process, and sees the metal back at $1,500 before October. The miners (GDX +2.5%) also continue a big move, inducing the blow-up of another triple-leveraged ETF, the DUST (DUST -7.2%), now off about 60% in less than a month. [View news story]
    The metals are still way under their proper prices...but the total silence from the peanut gallery of a month ago is worth a few bucks
    Jul 23 03:58 PM | 7 Likes Like |Link to Comment
  • Reuters/UofM Consumer Sentiment at 79.9 [View news story]
    Hmmm, they must have interviewed someone from the 99%
    Mar 14 10:08 AM | 6 Likes Like |Link to Comment
  • Futures off 1% on Russian aggression [View news story]
    You got it. If a baboon farts in the woods, we send in drones to protect our interests. They are probably downsizing the Army because the CIA has gotten so big...and Kerry howls about isolationism. I'd say it's becoming obvious the $ is going down and Obama is desperate to start a war somewhere so he doesn't get blamed. The banks who benefited from QE are all pumping the piss out of the market for appearances until we can get one started.
    Mar 2 09:05 PM | 6 Likes Like |Link to Comment
  • Holder: "Tip of the iceberg" in bank investigations [View news story]
    The question is, when will Holder be indicted.
    Nov 15 10:15 AM | 6 Likes Like |Link to Comment
  • The Fed hasn't lowered "real" interest rates enough, says Minneapolis Fed chief Kocherlakota, not disappointing his new fans. Somewhat hawkish until a near-religious conversion last year, Kocherlakota is now the most dovish on the FOMC (though not a voter this year) and fond of making statements like that. [View news story]
    As long as someone will point a camera at a soapbox, some blowhard will climb on top and say something stupid enough to get covered. Krugman's made a living at it. It's like reality tv for economists. It would almost be funny except it's become national policy for the last 6 years
    May 17 07:47 PM | 6 Likes Like |Link to Comment
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