Tag Archives: White Shoe Boys

Bill Bonner: Is the economy is weaker than we think?

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“We don’t like the looks of it.   Advisors are too bullish. Investors are too complacent. The financial authorities are too confident.  All up and down Wall Street, in central banks and in Washington, the stuff that goeth before the fall is thick, sticky, and stinky.  The economy is recovering, they say. The Fed has the situation in hand, they add. Don’t worry, we know what we’re doing, they assure us.   Barron’s says the Dow is going to 16,000, illustrated with a picture of a bull on a pogo stick. Abe says he’ll revive the Japanese economy with more money. And speculators take each hint from the Fed as though it were a whisper from God Himself.”

http://www.equitymaster.com/dailyreckoning/detail.asp?date=04/25/2013&story=1&title=Is-the-economy-is-weaker-than-we-think

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The Corruption of Capitalism in America Excerpt: Chapter 17, Serial Bubbles

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“Never before in history had the nation’s financial system been pummeled by two gigantic bubbles and two devastating crashes in such a brief interval. That Greenspan’s heir apparent managed to detect the Great Moderation at the midpoint of this cycle of financial violence was only added testimony to the degree to which monetary policy had become unhinged.  It was no longer plausible, therefore, to describe the New York Stock Exchange, NASDAQ, and the various venues for equity derivatives as a free market for raising and trading equity capital issues. Instead, they were violently unstable casinos, ineptly stage-managed by a central bank.”

http://www.caseyresearch.com/articles/corruption-capitalism-america

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American Eagle Gold Bullion Coin Sales Suspended; U.S. Inventory Depleted

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EPJ13

“The U.S. Mint said it has suspended sales of its one-tenth ounce American Eagle gold bullion coins as surging demand after bullion’s plunge to two-year lows depleted the government’s inventory. Bottom line: The selling in gold that has occurred isn’t coming from the general public.  So far in April, the U.S. Mint has sold 175,000 ounces of American Eagle gold coins, putting it on track to challenge a high of 231,500 ounces set in December 2009.  The buying by individuals in the wake of the curious decline seems to be global.”

http://www.economicpolicyjournal.com/2013/04/american-eagle-gold-bullion-coin-sales.html

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Twitter flash crash: Fake White House bomb report causes stock market panic

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“A tweet from The Associated Press Twitter account claiming the White House had been bombed caused investors to suddenly push the Dow down more than 100 points in two minutes Tuesday before it became clear the report was untrue and AP’s account had been hacked.  Reaction on the stock market was swift, as what had been a mildly positive day on the Dow Jones quickly turned negative, with America’s benchmark stock index losing more than 134 points or more than a full per cent of its value in a matter of seconds.  Reports suggest more than $20 billion worth of equity positions changed hands on the New York Stock Exchange during the brief trading hiccup.”

http://www.cbc.ca/news/business/story/2013/04/23/business-ap-twitter.html

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Wall Street betting billions on single-family homes in distressed markets

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“Drawn by the prospect of double-figure profit margins on rents and the resale of homes whose prices plummeted in the crash, hedge funds, Wall Street investors and other institutions are crowding out individual home buyers.  Real estate executives say institutional investors — who in some cases are bidding on hundreds of homes a day — account for as much as 70 percent of sales in some Florida markets. Over the past two years, analysts say, they also have accounted for a majority of purchases in other parts of the country where housing prices are rebounding sharply.”

http://www.washingtonpost.com/business/economy/wall-street-betting-billions-on-single-family-homes-in-distressed-markets/2013/04/21/ac4bdefc-a2e1-11e2-9c03-6952ff305f35_story.html?hpid=z2

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Goldman Sachs: Cover Your Gold Shorts

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EPJ13

“This morning, Goldman Sachs has put out an advisory recommending that clients close out their short positions in gold.  Just weeks ago on April 19, GS cut its short- and long-term gold forecasts.  At the time, analysts Damien Courvalin and Jeffrey Currie told clients that ‘should our expectation for lower gold prices continue to prove correct, the fall in prices could end up being faster and larger than our forecast.’   On April 12, gold fell on its worst two-day plunge since futures first started trading in New York.  Despite the advice to close out short positions, it appears GS wants to have its foot in both the bullish and bearish camp.”

http://www.economicpolicyjournal.com/2013/04/breaking-goldman-sachs-cover-your-gold.html

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Takedown Of Paper Gold Unleashes Global Run On Physical Gold And Silver

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“Precious metals dealers now find themselves being overwhelmed with orders in the United States, in Canada, in Europe and over in Asia.  Will this massive run on physical gold and silver soon lead to widespread shortages of those metals?  Instead of frightening people away from gold and silver, the takedown of paper gold seems to have had just the opposite effect.  People just can’t seem to get enough physical gold and silver right now.  Those that wish that they had gotten into gold when it was less than $1400 an ounce are able to do so now, and it is absolutely insane that silver is sitting at about $23 an ounce.”

http://theeconomiccollapseblog.com/archives/10-signs-the-takedown-of-paper-gold-has-unleashed-an-unprecedented-global-run-on-physical-gold-and-silver

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Gold Crash 2013 – Deliberately Engineered?

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“Traders will be looking for a significant turnaround to the upside in price before entering long positions. However, a long-term, fundamentals-based trader has to look at the low price as a buying opportunity. I can’t prove it, but I think the fundamentals will drive the long-term market more than these short-term events. The fight between pricing from the physical market for bullion and that from the ‘paper market’ of futures is showing signs of discrimination and disagreement, as the physical market is booming, while prices set by futures are seemingly pressured to go nowhere.  In short, I think this is a strong buying opportunity.”

http://www.caseyresearch.com/cdd/gold-crash-2013-deliberately-engineered

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US Mint’s Sales of Gold Coins Soar After Futures Prices Plunge

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EPJ13

“The U.S. Mint in April has sold 153,000 ounces of American Eagle gold coins, the highest in almost three years, after futures prices started the week by plunging the most since 1980, moneynews.com reports.  Sales have more than doubled from March and surged sevenfold from a year earlier, data on the Mint’s website showed. The amount for all of May 2010 was 190,000 ounce. This week, retail sales and jewelry demand soared in India, the world’s top gold buyer, and China, the second-biggest, after futures in New York slumped into a bear market, touching the lowest in more than two years. Coin sales also surged in Australia.”

http://www.economicpolicyjournal.com/2013/04/us-mints-sales-of-gold-coins-soar-after.html

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Gold’s Black Market?

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“Have investors really lost faith? We read that gold demand in Asia and India remains very strong and informal reports from gold buyers (for physical gold) seem to indicate that it is difficult to buy gold at any price. Silver, not much better.  One explanation for this would be that the paper market and the physical market are diverging. The paper market, according to those who see this crash as manipulated, is easy to push down. The physical market might reject these manipulations were it a mark-to-market operation. But it is not. The physical price of gold is apparently fixed twice a day by a consortium of wise men.”

http://www.thedailybell.com/29012/Golds-Black-Market

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