and also silver ...From the US Mint website: Silver eagles sold in April 2012: 1.52 million. Silver eagles sold from April 1 to April 8, 2013: 1.645 million ....in just 1 week.
The EU should consider changing the ECB mandate to give it the same powers as those of the Fed and BOE, says Spanish PM Rajoy. Forecasts for the Spanish economy to grow in 2014 are now in doubt, he adds. Showing Rajoy's influence on monetary policy, the euro (FXE) goes nowhere, remaining slightly higher on the session at $1.3020. [View news story]
True, the ECB should print trillions and send the money directly to Rajoy's Swiss bank account. The money is going to be safe there.
It Is Not Different This Time - It Is Worse [View article]
Well, ''It Is Not Different This Time - It Is Worse'' is not really correct as worse if different indeed. Not to worry, the FED is already doing the groundwork to increase their QE=MP (Money Printing) program to ~$125 billion per month in my view. This is the likely outcome in the next 12-18 months at most.
The yen (FXY) tumbles another 1% vs. the dollar as a new report suggests the BOJ plans to move fast and move big with JGB purchases. Buying less than ¥93 moments before the BOJ announced aggressive new easing measures Thursday, the dollar this moment is worth ¥98.51. The Nikkei adds 2.8% in early Tokyo trade, giving it a middling 8.6% gain since Thursday. [View news story]
Hey, the new BOJ policy is already creating jobs. I heard that the BOJ is hiring thousands to carry all the freshly printed money from the BOJ to the homes of the top 0.1%. These are good jobs, you get to carry money, keep a tiny portion of it and mingle with the rich and famous. Who can say no to that!
Comparing Bank Of Japan's Old And New Monetary Easing Efforts [View article]
Well, this is all true and indeed most of them don't know it. They will know it very well within the next 2 to 5 years max. The first large developed country to blow up financially like a total banana republic, which is what they are.
Don't Panic Over The Silver Sell-Off [View article]
Stockman knows what he is talking about. The argument that came out against him was that he is old! This is amazing. I can't believe it. Not that it matters, but he is not even that old. He is 66. This idiot Greenspan is 87 and they still show interviews with him and listen to his nonsense.
Don't Panic Over The Silver Sell-Off [View article]
The costs of mining are going up at 10% per year or more. At current prices some miners are not going to have any profits (that is 0 earnings). This is not sustainable and while they may continue to mine for some time, supply will come under pressure for sure. Junior miner will not be able to get any capital so forget new silver deposits. Remember that silver was the money in China for centuries (not gold) and you have 1 billion people looking to save some money that cannot be printed to infinity by central banksters and only less than $9 billion worth of silver available for investments per year. Stay away from silver futures as we are likely to eventually see a force major with cash settlements being forced upon obstinate longs at prices that suit J.P.Morgan. This is my view but of course people need to do their homework and make up their mind.
Don't Panic Over The Silver Sell-Off [View article]
It is interesting that people thought the FED likely to slow down or even end QE infinity. Actually the most recent statements were that the FED can slow down or increase the pace of purchases depending on the economy. The so called hawks hide in some little dark holes while the doves have won the battle completely, if there ever was one. I think that the recent ''dial up'' or ''dial down'' statements simply imply that the FED is setting up the ground for an increase of QE to maybe $125 billion per month. We'll see but over the next 12-18 months this is the most likely outcome. On the economy I can say that nothing good has come out. Food stamps are at record high and the labor participation rate is the lowest since 1979. The only good thing is the stock market going up and up. My belief, and I have no proof, is that the government is buying shares to boost the market. I think that this is not the FED but the so called Plunge Protection Team (set up by Reagan and yes it does exist). On the other hand, the FED is doing the dirty job of suppressing precious metals prices. In that ''noble'' task they use J.P. Morgan (also known as the FED's bank), the BIS and even selected hedge funds. The silver element is mostly J.P. Morgan playing their dirty games on the Comex but this is only paper trading. The want to put a permanent negative ''Pavlovian'' sentiment in place so that people don't buy. It doesn't seem to be working as the demand for silver coins at the US Mint is up 40% YOY. I think that the clever thing would be to allow prices to go up, make big noise about the metals being a bubble and make the market volatile. This would discourage some buyers, at least for the time being. Right now they are running the risk of being overrun by a tidal wave as they don't have much silver (or gold) to deliver on the Comex and the US Mint is clearly not able to get silver on time. The US uses a lot of silver as it is an industrial metal as well but produces (from mining) an amount that is not going to be enough to even mint the coins sold at the US Mint. Even to produce coins, the US has to import silver and when you add all other applications of silver, the imports become very big. Silver is a strong buy at these levels and the supply/demand situation is very bullish.
Forget About The Fed Dialing Back QE3 - Buy Bonds [View article]
Buy bonds with the 10 yr at 1.7%? Is this because you hope to front-run the FED and sell it to them at say 1.5%? If you keep it to maturity you definitely lose on this one as inflation is much higher than the yield of the bond, while you have to pay taxes on the interest and you will lose purchasing power for sure. This kind of trade is mostly for Wall St. banks that have friends at the FED and know what to buy and how to front-run the FED well. It is not for the average investor me thinks.
Comparing Bank Of Japan's Old And New Monetary Easing Efforts [View article]
Right, the lamb is hurting because the wolf is not its friend. Also, the wolf is hurting because the lamb is not friendly and doesn't want to talk to the wolf. Can't we all be friends? Japan is likely to experience a very sharp financial crisis in 2 to 5 years at most. The fact that they have a high standard of living now doesn't change the fact that they are totally bankrupt as a country. Argentina used to be one of the richest country in the world and look at them now. The yen is toast.
The Significance Of The Japanese Bond-Buying Program [View article]
Japan is the poster child of the corrupt Keynesian state using the strategy of borrowing and spending to enrich the top 0.1% and keep the bottom 50% happy enough to vote as required. The way things are going Japan will surely experience a financial collapse - this is just simple math. The timing is less certain but my guess is 2 to 5 years. I really doubt they can last more than that.
The new car sales to subprime car buyers will blow up, just like the housing subprime bubble blew up. The lenders (lending other people's money) are clever and have made the loans longer dated, to help postpone the inevitable defaults and give company executives a few years to collect bonuses. Then they will be back to Washington asking for new bailouts. The amounts are smaller than housing but the idea is the same.
The Draghi Put Returns To The Euro After Cyprus [View article]
I think that the FED, BIS and all the rest simply defend the wrong levels in gold. I don't know their plans but I think that they should've left gold go up, introduced volatility through interventions and announced that it is a bubble. It is expensive to defend the current low prices and also very risky for them. The FED can't sell the German gold 10 times after all. Volcker said that the mistake in the 70's was allowing gold prices to go up so much. They are following this logic and have been able to fool the Western masses. There is no chance in hell they can convince the Asians who have seen the same crap before many times. The idea is to introduce permanent negative sentiment in the market and push people into stocks and real estate. The problem is that sentiments are never long term and change rapidly. In the case of silver, the demand for silver coins at the US Mint is up 40% YOY in the face of the obvious manipulation. This is basic Economics 101 with low prices attracting demand from people looking to preserve their purchasing power.
Comparing Bank Of Japan's Old And New Monetary Easing Efforts [View article]
Japan is toast. Their aging population is starting to become spenders and not savers. Weak yen will make commodities imports expensive. The current account has become negative and the debt levels will grow more. The yen is toast and Japan will be the first large developed country to experience an economic collapse.
Don't Panic Over The Silver Sell-Off [View article]
Bad Times For Gold Are Soon To End [View article]
Silver eagles sold in April 2012: 1.52 million.
Silver eagles sold from April 1 to April 8, 2013: 1.645 million ....in just 1 week.
The EU should consider changing the ECB mandate to give it the same powers as those of the Fed and BOE, says Spanish PM Rajoy. Forecasts for the Spanish economy to grow in 2014 are now in doubt, he adds. Showing Rajoy's influence on monetary policy, the euro (FXE) goes nowhere, remaining slightly higher on the session at $1.3020. [View news story]
It Is Not Different This Time - It Is Worse [View article]
The yen (FXY) tumbles another 1% vs. the dollar as a new report suggests the BOJ plans to move fast and move big with JGB purchases. Buying less than ¥93 moments before the BOJ announced aggressive new easing measures Thursday, the dollar this moment is worth ¥98.51. The Nikkei adds 2.8% in early Tokyo trade, giving it a middling 8.6% gain since Thursday. [View news story]
Comparing Bank Of Japan's Old And New Monetary Easing Efforts [View article]
Don't Panic Over The Silver Sell-Off [View article]
This idiot Greenspan is 87 and they still show interviews with him and listen to his nonsense.
Don't Panic Over The Silver Sell-Off [View article]
Stay away from silver futures as we are likely to eventually see a force major with cash settlements being forced upon obstinate longs at prices that suit J.P.Morgan. This is my view but of course people need to do their homework and make up their mind.
Don't Panic Over The Silver Sell-Off [View article]
On the economy I can say that nothing good has come out. Food stamps are at record high and the labor participation rate is the lowest since 1979. The only good thing is the stock market going up and up. My belief, and I have no proof, is that the government is buying shares to boost the market. I think that this is not the FED but the so called Plunge Protection Team (set up by Reagan and yes it does exist). On the other hand, the FED is doing the dirty job of suppressing precious metals prices. In that ''noble'' task they use J.P. Morgan (also known as the FED's bank), the BIS and even selected hedge funds. The silver element is mostly J.P. Morgan playing their dirty games on the Comex but this is only paper trading. The want to put a permanent negative ''Pavlovian'' sentiment in place so that people don't buy. It doesn't seem to be working as the demand for silver coins at the US Mint is up 40% YOY. I think that the clever thing would be to allow prices to go up, make big noise about the metals being a bubble and make the market volatile. This would discourage some buyers, at least for the time being. Right now they are running the risk of being overrun by a tidal wave as they don't have much silver (or gold) to deliver on the Comex and the US Mint is clearly not able to get silver on time. The US uses a lot of silver as it is an industrial metal as well but produces (from mining) an amount that is not going to be enough to even mint the coins sold at the US Mint. Even to produce coins, the US has to import silver and when you add all other applications of silver, the imports become very big. Silver is a strong buy at these levels and the supply/demand situation is very bullish.
Forget About The Fed Dialing Back QE3 - Buy Bonds [View article]
Comparing Bank Of Japan's Old And New Monetary Easing Efforts [View article]
Japan is likely to experience a very sharp financial crisis in 2 to 5 years at most. The fact that they have a high standard of living now doesn't change the fact that they are totally bankrupt as a country. Argentina used to be one of the richest country in the world and look at them now. The yen is toast.
The Significance Of The Japanese Bond-Buying Program [View article]
February Consumer Credit rises $18.2B vs. an expected $15B and $16.2B previously. [View news story]
The Draghi Put Returns To The Euro After Cyprus [View article]
Volcker said that the mistake in the 70's was allowing gold prices to go up so much. They are following this logic and have been able to fool the Western masses. There is no chance in hell they can convince the Asians who have seen the same crap before many times. The idea is to introduce permanent negative sentiment in the market and push people into stocks and real estate. The problem is that sentiments are never long term and change rapidly. In the case of silver, the demand for silver coins at the US Mint is up 40% YOY in the face of the obvious manipulation. This is basic Economics 101 with low prices attracting demand from people looking to preserve their purchasing power.
Comparing Bank Of Japan's Old And New Monetary Easing Efforts [View article]