Archive for the 'Economy' Category
Japan Poised to Assist Wall Street Banks
January 16th, 2008The Matrix is robust. Look how so many nodes close ranks when a situation threatens to take it down. Simple greed is another explanation that works well here. Via: Telegraph: The three wealthiest Japanese finance houses are set to step into the worsening sub-prime carnage as the “silent investment partners” of Wall Street and Europe’s […]
Thieves Target Kansas Grain Elevators
January 16th, 2008Via: KMBC: The high cost of corn, wheat and soybeans is leading to a rash of thefts from grain elevators in western Kansas. The thieves have driven big rigs to the grain elevator, filled the truck with cash crops and then sold the grain somewhere else. “There’s incentives there for the wrong people,” said Adrian […]
Recent Daily Gold Action with Fibonacci Fan and Retracement Grid
January 16th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. The move on gold has been so extreme for so long that I thought I’d take a look at it from a technical perspective. Since we’re above the previous all time high of $850 (yes, I know that the dollar is […]
WHOLESALE PRICES IN 2007 UP 6.3%
January 15th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. You’re going to cut, Ben. Don’t even give me any of this “dilemma” nonsense. The Fed can continue to cut, and keep the coke heads on Wall Street twitching for another few weeks or months, or not, and crash the whole […]
£50bn Bill to ‘Nationalise’ Northern Rock
January 14th, 2008“Sterling holders, consider reducing or eliminating your exposure to GBP denominated assets immediately… The British government’s guarantee might seem like good news to the average sterling holder, but think about how the government would guarantee those funds, in practice. Printing presses.” —September, 2007: EMERGENCY: U.K. GOVERNMENT TO COVER 100% OF NORTHERN ROCK DEPOSITS I don’t […]
GOLD BREAKS ABOVE $900
January 14th, 2008Printing $911 intraday. Via: Guardian: Gold surged through the $900 barrier this morning, hitting a record high of $906.70 an ounce as investors continued to pile in to the precious metal. Platinum also reached a new record and silver hit a 27-year high. Turmoil in world financial markets in recent months has heightened the appeal […]
Retail in a State of “Anarchy” as Consumers Retreat
January 14th, 2008If consumer stocks bounce on the latest Fed confetti shredder action, let’s all work together to draw up a target list of the most succulent pigs to short/buy puts on to profit from a whipsaw back down. My logic is that the rate cuts will cause more inflation, making things more difficult for consumers. —Helicopter […]
PAKISTANI TROOPS ESCORT WHEAT TRUCKS
January 14th, 2008What do you get when you multiply the perfect storm in the grain markets with a state on the brink of failure? Pakistan. And don’t forget the nukes. Via: Reuters: Pakistani paramilitary troops have begun escorting trucks carrying wheat to stop supplies being stolen amid shortages of flour that have inflamed anger against the government […]
Soybeans Soar to Record, Grains Rally as Demand Erodes Supply
January 14th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Corn, wheat and soybeans were all limit up on Friday. I almost fell out of my chair when I saw the one day gain on PowerShares DB Agriculture (DBA). It was up 5.65% at $36.45. You may remember that I put […]
Mysterious $100 ‘Supernote’ Counterfeit Bills Appear Across World
January 13th, 2008I’ve seen vague stories in the media about these “supernotes” for years, but this article goes much further than anything I’ve read before. Highly recommended. Via: Kansas City Star: Whatever the origin of the bills, “it’s by far the most sophisticated counterfeiting operation in the world,” said James Kolbe, a former congressman from Arizona who […]
