Friday, September 23, 2011
The wise learn more from their enemies than they do from their friends
In a disgusting show of manners the US, France and other nations who can't handle the Truth walk out during a speech by Iran's president to the UN General Assembly. Try your best to listen to the English translation of the speech, the most amount of Truth ever uttered by a politician in 1min 30secs in the history of the UN.
Silver on sale, rent a truck
With with gold and silver selling off last night there should be increased physical buying in the markets today. Many investors, particularly those after silver, have been waiting on the sidelines for a sharp drop from the US$40/oz levels. With silver currently trading around US$36/oz, approx 8% down from yesterday's New York closing, Asian buying will be strong today.
For those students of history who would like to know more about the history of the "Silver Standard" and why Chinese and Indian buyers with a long term historical view are rediscovering silver, after generations of derision, read the first part of Charles Savoie's master work on "Britain Against Silver" here
US stocks sharply lower
Stocks have closed
sharply lower after investors sold stocks with abandon, convinced that
the U.S. and the world are headed for a new recession. The Dow Jones
industrial average fell as much as 527 points.
Aussie dollar dives in black day for global sharemarkets
Chart from xe.com
From The Sydney Morning Herald:
The Australian dollar is in freefall this morning, plunging to near two-year lows overnight as stockmarkets in the United States and Europe were battered by fears of a global recession.
At 5.30am (AEST) the Australian dollar had slipped to 97.29 US cents, more than two and a half cents down from yesterday's 5pm close of 100.18 US cents, and down 5 US cents since Wednesday. The last time the local unit languished in the 97 US cent range was early December, 2010.
The dive came as stockmarkets across the globe sank into a sea of losses amid predictions and warnings of a slowing world economy, unable to overcome worries over debt problems and poor performance in Europe and the United States.
Sharemarket gloom
Investors will watch the Australian share market anxiously when it opens today after another bloodbath on overseas markets overnight, with top economists and politicians warning the world's economy appears to be in for a rough ride.
Read more:
http://www.smh.com.au/business/dollar-dives-in-black-day-for-global-sharemarkets-20110923-1knsq.html#ixzz1YiTG2G2G
Thursday, September 22, 2011
Keiser Report: Troika Tanks & Junta Bots
by RussiaToday on Sep 22, 2011
This week Max Keiser and co-host Stacy Herbert discuss Vince Cable's "economic equivalent of war." They also notice politicians talking tanks and scapegoats for Greece and Christine Lagarde, the "junta-bot", meeting with other unelected officials. In the second half of the show, Max talks to Reggie Middleton.
This week Max Keiser and co-host Stacy Herbert discuss Vince Cable's "economic equivalent of war." They also notice politicians talking tanks and scapegoats for Greece and Christine Lagarde, the "junta-bot", meeting with other unelected officials. In the second half of the show, Max talks to Reggie Middleton.
Michael Pento - US needs free markets
According to the IMF there is little sunshine in the forecast when it comes to global growth in the year ahead. It also says if major changes are not made soon, the US and the Eurozone will plummet back into recession. There are tough times looming over the US and European economies, and Michael Pento of Pento Portfolio Strategies explains what it means.
U.S. Military Predictive Software Says Greece Will Default
From MunKnee:A predictive software program called Senturion, developed for the U.S. military and sporting a 85% accuracy rate, has concluded that Greece is going to default.
So conveys Eric Lam in edited excerpts from an article* he wrote for the Financial Post which Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!),
has further edited ([ ]), abridged (…) and reformatted below for the
sake of clarity and brevity to ensure a fast and easy read. The author’s
views and conclusions are unaltered and no personal comments have been
included to maintain the integrity of the original article. Please note
that this paragraph must be included in any article re-posting to avoid
copyright infringement.
Lam goes on to say, in part:
*www.cbc.ca/fp/story/2011/07/18/5119291.html
Lam goes on to say, in part:
It’s official: Greece is going to default, and there’s nothing anybody can do about it – that is if you believe the word of Senturion which analyzed the positions of leading EU officials, private financial institutions and Greek political factions in the week following a critical parliamentary vote at the end of June. That vote passed important austerity measures, but Senturion found that the Greek government “conclusively cannot deliver on all of the terms specified in the austerity package and most specifically privatization, setting the country on a course to possible sovereign default.”
The software, developed to help assess “life-and-death battlefield situations,” uses methodology based on Nobel Prize-winning bargaining theory and has completed more than 460 projects with 85% accuracy since its first contract with the U.S. Department of Defense in 2005…
Bernanke left Twisting
From The Sydney Morning Herald:
US stocks slumped, sending the Standard & Poor’s 500 Index to its biggest drop in a month, as the Federal Reserve announced plans to buy $US400 billion of long- term debt and cited risks to the economic outlook.
Fed policy makers will replace some bonds in their portfolio with longer-term Treasuries in an effort to further reduce borrowing costs and keep the economy from relapsing into a recession, confirming market speculation that the central bank was planning an ‘‘Operation Twist’’ similar to one of the central bank’s program in the 1960s.
‘‘There are significant downside risks to the economic outlook, including strains in global financial markets,’’ the Fed statement said.
Fed policy makers will replace some bonds in their portfolio with longer-term Treasuries in an effort to further reduce borrowing costs and keep the economy from relapsing into a recession, confirming market speculation that the central bank was planning an ‘‘Operation Twist’’ similar to one of the central bank’s program in the 1960s.
‘‘There are significant downside risks to the economic outlook, including strains in global financial markets,’’ the Fed statement said.
From:
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Sep 21, 2011
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