Wednesday, 30 November 2011

Central Banks Move to Ease Pressure

"Central banks moved to ease the strain the European debt crisis is putting on the global financial system by lowering the rate they charge for emergency access to U.S. dollars.

In a joint announcement Wednesday, the Federal Reserve, the European Central Bank, the Bank of Japan, the Bank of England, the Bank of Canada and the Swiss National Bank said the move is necessary to “ease strains in financial markets and thereby mitigate the effects of such strains on the supply of credit to households and businesses and so help foster economic activity.”

Starting next week, the central banks will drop the rate they charge to exchange U.S. dollars for other currencies by half a percentage point. The new charge for “swaps” will be half a percentage point above the U.S. dollar overnight index swap, or OIS. A swap is essentially a loan backed by collateral. The OIS market is where banks go to borrow dollars or other currencies on a short-term basis..."

And there is no liquidity issues right now? Give me a break.

- Read the full article at the Globe and Mail, here:

Saturday, 26 November 2011

S&P downgrades Belgium’s debt

Belgium has had its credit rating downgraded by ratings agency Standard & Poor's.

The country's downgrade could make it more expensive for Belgium to borrow in future.

Belgium's rating was cut by one notch, to AA from AA+, with S&P expressing concerns about funding and market pressures...

- Read the full article here:

Tuesday, 22 November 2011

Turk - MF Global Disaster to Create Another Lehman Crisis

“First of all investors should be concerned because everything is so inter-connected today. People call it contagion and this contagion is real because the MF Global bankruptcy is going to have a knock on effect, just like Lehman Brothers had a knock on effect.”

“So the contagion is the first reason for concern. The second reason for concern is it’s taking so long for them to find this so called missing money, which I find shocking. It’s been three weeks now since the MF Global bankruptcy was declared and they started talking about $600 million of missing funds.

So I’m not too surprised that now they are talking about $1.2 billion of missing customer funds. I think they are just trying to delay the inevitable as to how bad the situation at MF Global really is."

- Read the full interview at King World News, here:

Tuesday, 15 November 2011

Martin Armstrong - Gold Upside Take Off Only Months Away

“Basically what you are doing is you are building a sideways type of base. Eventually gold is going to take off to the upside, but largely when people begin to see the Emperor has no clothes and we’re getting close to that. I would only give it a few more months.”

- Martin Armstrong discussing Gold, via a King World News Interview:

Thursday, 10 November 2011

Eveillard - If Italy Sells its Gold Here is What Will Happen

“It would make a terrible impression. It would be the idea that, ‘Gee, they are selling the family jewels,’ if they were to do so. It would be a little bit like the IMF at the beginning of 2010 sold 200 tons of gold. It was India that bought it.

The gold price subsequently went up because I think it was interpreted as gold moving from the weak hands of the IMF, to the strong hands of India. The idea is the West is declining. The West, which dominates the International Monetary Fund, is declining and the East is rising.”

- Jean Marie Eveillard via a King World News interview, read the full interview here:

Tuesday, 8 November 2011

Stephen Leeb - This Will Drive Silver to $100 Rapidly

Here’s silver near $35, up from $20, so it’s up 75% in price in just over a year and people are bearish. To me this just means that silver is going dramatically higher. Solar is already taking 11% of silver production. How long before it takes 100%?

Solar is just on the tarmac, solar hasn’t even taken off. And we are not even talking about silver as a monetary metal. That’s basically silver’s history, that of being a monetary metal. So the question is what drives the price of silver to $100 more rapidly, monetary or industrial use or some combination?....

- Read the full interview at King World News here:

Thursday, 3 November 2011

Gold now Going to $2000

"Gold is headed now into the $2000s with extreme violence.


- Jim Sinclair

Keiser Report: Make Love, Not Debt (E205)

This week Max Keiser and co-host, Stacy Herbert, discuss the new world order in which we're all Greeks because we didn't see the signs in 1969 - "Make Love, Not Debt." In the second half of the show, Max Keiser interviews Birgitta Jonsdottir, about the true state of transparency, banking and economy in the latest IMF poster child, Iceland.