John Williams, Economists, Shadowstats, saying "Eventually it is going to be a hyperinflationary great depression". The catalyst is well-known: "When you see panic selling of the US dollar, that's when you have to be really careful. But what's already been done with the dollar has spiked oil prices, and other commodity prices."
http://watch.bnn.ca/squeezeplay/december-2010/squeezeplay-december-8-2010/#clip386602
About Me
- ASH (Ashutosh Singh)
- Financial Advisor, GTA, Ontario, Canada
- Investment, Insurance, Tax & Estate Planning
Friday, December 10, 2010
Thursday, December 9, 2010
The secret Wall Street bailout - Opinion - Al Jazeera English
The US doled out $12.3 trillion dollars to finance bailouts, a figure far higher than what was previously stated.
Gold Will Move $150 Higher Within 5 Weeks
KWN source at London “A bunch of the weak hands are now on the short side of this market. We are very close to a floor because of the massive Asian buying. People have to remember these Asian buyers are now controlling the gold and silver markets, it is not the little guy.”
It’s all about the bond auctions, the bond fell off a cliff. In the derivatives market you’ve got JP Morgan playing the bond market at the behest of the Fed, going long 30 years versus selling short-term paper, in the trillions. They buy trillions of dollars at a time of 30 year paper and then immediately hedge themselves by selling the 30, 60 and 90 day paper. It’s how they keep interest rates down, it’s how you do it.
The only reason interest rates are not in double digits in the US is because of this game. These guys are short front month paper. If this (the bond market) actually fell much longer, JP Morgan could be wiped out, I mean they would be liquidated. The Fed cannot allow them to do that. We’re witnessing history here.
Money flowing out of bonds is going into precious metals. So what they are doing is trying to paint the tape and make it look like a double-top in gold, with silver also retreating. Open interest went up into the decline, this is a gift (the decline). Asian buyers are laughing, we’re like a cartoon to them. They cannot believe how orchestrated this is.”
Where do you see a floor on Silver?
"I think to go through $27 is virtually impossible, it would be suicide. I don't think it will even get there. They are getting very cheeky even taking it below $28. They are not going to push it below $27 because they would just lose too much physical.
All that's happening here is the Fed is freaking out because the bond market is collapsing & they want to indicate that everything is fine, & certainly that precious metals is not your alternative. Meanwhile, the Asians will continue to buy the dip & keep adding to their position. For what it is worth, Jim Rickards is correct, the Asians are doing their buying through secret agents?
What about Gold?
"As far as the Gold market is concerned, gold will be $150 higher from here within 5 weeks"
Where do you see a floor on Silver?
"I think to go through $27 is virtually impossible, it would be suicide. I don't think it will even get there. They are getting very cheeky even taking it below $28. They are not going to push it below $27 because they would just lose too much physical.
All that's happening here is the Fed is freaking out because the bond market is collapsing & they want to indicate that everything is fine, & certainly that precious metals is not your alternative. Meanwhile, the Asians will continue to buy the dip & keep adding to their position. For what it is worth, Jim Rickards is correct, the Asians are doing their buying through secret agents?
What about Gold?
"As far as the Gold market is concerned, gold will be $150 higher from here within 5 weeks"
Wednesday, December 8, 2010
What is the Safest Investments
Marc Faber: Normally what is the safest investment? Treasury bills, cash deposits with banks and then government bonds, corporate bonds, equities are more volatile and more risky, but they also have a higher return. And the highest risk is in commodities because, they do not generate any cash flow. But in this situation, as we have it today, I think that holding cash and government bonds is a disaster in the long run. You may hold a US treasury today and it may rally for 10 days, 3 months, but over the next 10 years it will be a disaster as to have held greek bonds.
My advice is that every responsible individual has first of all, to diversify his assets because we don`t know exactly at what stage the rebooting of the global financial system will happen. Have some money in physical gold ideally outside of the US. You should have some money in equities because as you print money, equity markets tend to go up. Own some farmland, so at least you can live when the reset will happen.Jim Rogers: Greece is insolvent, Portugal has a liquidity problem, Spain has a liquidity problem, Belgium has been cooking the books for a long time, Italy has been cooking the books for a long time and the UK is totally insolvent.
http://www.thisismoney.co.uk/news/article.html?in_article_id=519495&in_page_id=2&ito=1565
MasterCard site partially frozen by hackers in WikiLeaks 'revenge'
'Operation: Payback' hacks into MasterCard site over payment network's decision to cease taking donations to WikiLeaks
http://www.guardian.co.uk/media/2010/dec/08/mastercard-hackers-wikileaks-revenge
http://www.guardian.co.uk/media/2010/dec/08/mastercard-hackers-wikileaks-revenge
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