Archive for the 'Economy' Category
GOLD GAP
October 15th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Japanese retailers are chasing the move. Watch the F out! Don’t get whipsawed on this thing. Via: Forbes: Gold rose to a 28-year peak as the dollar weakened further against the euro and as oil prices held near new record levels […]
Treasury Claims Power to Seize Gold and Silver — and Everything Else
October 14th, 2007Via: GATA: Because of recent inquiries to GATA about the possibility of an attempt by the U.S. Government to confiscate privately held gold and silver bullion and coins and shares in companies mining the precious metals, we’re republishing here the correspondence between GATA and the U.S. Treasury Department on the subject in 2005. The Treasury […]
The United States of Subprime: “I’m Going to Lose My Home Anyway, So Why Pay?”
October 13th, 2007Via: Wall Street Journal: The Journal’s findings reveal that the subprime aftermath is hurting a far broader array of Americans than many realize, cutting across differences in income, race and geography. From investors hoping to strike it rich by speculating on condominiums to the working poor chasing the homeownership dream, subprime loans burrowed into the […]
Big Banks Trying to Avoid Global Economic Crash, Planning to Back as Much as $100 Billion in “Shaky” Mortgage Securities and Other Investments
October 13th, 2007How these banks are going to juggle so much filthy, festering, hemorrhaging debt is a mystery to me. Maybe governments will eventually wind up eating it, like with Northern Rock in the UK. Maybe hyperinflation will make paying these debts down much easier. Maybe… Hmm. How much opium is Afghanistan producing??? This is an astonishing […]
Pope Clement Cleared Templars of All Heresies in Secret Vatican Document
October 13th, 2007What other “misplaced” documents are entombed in that library? And why release this information now? Wow, what a mind boggler… Lots of people have made careers out of Templar lore, it will be interesting to see what the pros think about this incredible revelation. This is a worthless, reckless and wildass guess on my part, […]
Are There Too Many Dollar Bears?
October 11th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. With the U.S. Dollar Index currently printing all time lows, this Peter Schiff article seems appropriate. Via: Kitco: For the dollar to register a significant short-term bottom based on negative sentiment, I feel there would have to be a much greater […]
Dollar Breaking Down Again, Gold Trying for $750
October 11th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Headline says it all. But, is the Dow at 20,000 yet? Note: Hourly overhead resistance on gold is at $747.50 and support at $742.50. Make or break, right now.
Credit Card Debt is Ready to Blow
October 11th, 2007You already know about the subprime mortgage apocalypse… Since the lending requirements for mortgages have been tightened up, banks are now issuing more credit cards to the slobs who took out those stupid loans! Via: Baltimore Sun: After every financial crisis over the past 10 years, the Federal Reserve has cut interest rates and pumped […]
S&P: U.S. Subprime Crisis Will Not Peak Until 2009, “We Underestimated the Extent to Which Fraud Was Occurring in the Industry”
October 10th, 2007Via: Reuters: The U.S. subprime housing crisis will not peak until 2009, rating agency Standard and Poor’s said on Tuesday, adding it had underestimated the extent of fraud in the industry. S&P expected the world economy to grow 3.6 percent in 2007 and 3.5 percent in 2008, with emerging market economies driving growth. The U.S. […]
Wild Gold Action
October 9th, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Man, the action on gold has been wild. Look what happened after I issued my warning last weekend: Volatile, rangebound action Notice how I never suggest that Cryptogon readers should even think about shorting the thing. While the situation I described […]
