Archive for the 'Economy' Category
Gold Down as Traders Lock in Profits After Record Highs
October 3rd, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. “Use extreme caution if considering adding to long gold positions in the near term. There is a strong possibility of a pullback. If you are looking to lock in profits, tighten stops, or consider a stop target of $738. Consider long […]
Maxed Out
October 2nd, 2007America is not only far from the world’s wealthiest nation; it is crumbling beneath a staggering burden of individual and government debt. Maxed Out takes us on a journey deep inside the American debt-style, where everything seems okay as long as the minimum monthly payment arrives on time. Sure, most of us may have that […]
Radiohead: Pay What You Want for New Album
October 1st, 2007Radiohead just blew the support columns out from underneath the already doomed music industrial complex. I know that Cryptogon is read mainly by people who have never heard of Radiohead, so, if you’re wondering what all the fuss is about, just know that Radiohead is a very big deal in the music world and they […]
U.S. MINT FAILS TO RESTART SALES OF AMERICAN EAGLE GOLD COINS
October 1st, 2007WARNING: This is not a recommendation to buy, sell or hold any financial instrument. When I initially mentioned that the U.S. Mint had stopped selling American Eagle gold coins, that represented such a weird situation that I turned a screen shot of the U.S. Mint’s web page into the banner image for Cryptogon, as you […]
CITIGROUP CUTS PROFIT FORCAST BY 60%; SUBPRIME… YOU KNOW THE REST BY HEART
October 1st, 2007Via: Bloomberg: Citigroup Inc., the biggest U.S. bank, said third-quarter profit fell about 60 percent because of “weak” credit markets and losses on leveraged loans and mortgage-backed securities. The bank will write down $1.4 billion before taxes on leverage finance commitments, Citigroup said today in a statement. The New York-based bank lost $1.3 billion on […]
Some Northern Rock Clients Buying Gold
October 1st, 2007“I really wonder if we are at a point where physical demand from people looking to diversify their portfolios could cause the thing to breakout higher. How many bank runs will the herd endure before it looks for alternatives?” —Cryptogon, September 16th, 2007 Via: The Post: Some beleaguered Northern Rock customers who withdrew their savings […]
UBS: UNEXPECTED LOSS CAUSED BY SUBPRIME WRITEDOWNS
October 1st, 2007Via: Bloomberg: UBS AG, Europe’s biggest bank, had an unexpected third-quarter loss and plans to cut 1,500 jobs after writing down the value of fixed-income securities by more than 4 billion Swiss francs ($3.4 billion). The pretax loss, the first reported by any of the world’s largest banks, totaled 600 million francs to 800 million […]
Some Bank of England Gold Reserves Do Not Meet “London Good Delivery” Standards
October 1st, 2007Via: UK Channel4: Some of Britain’s gold reserves held in the Bank of England are cracking up because they were poorly made. The deterioration could temporarily cut the value of the country’s 320-tonne reserve, which is held by the Bank on behalf of the Treasury. A Freedom of Information request by trade journal Metal Bulletin […]
UK: Homeowners Face Payment Shock
September 29th, 2007Via: Financial Times: Homeowners with patchy credit histories are set to face a 26 per cent jump in their monthly mortgage payments due to the global credit squeeze, according to a new report. Standard & Poor’s, the ratings agency, said that 80,000 UK borrowers who are due to come to the end of existing mortgage […]
CIA Jet Used for “Rendering” Suspects Crashes with Four Tons of Cocaine on Board
September 29th, 2007Just another day at the office. Full text follows. Via: McClatchy: U.S. authorities are assisting the Mexican government in the investigation of an American business jet that crashed near Cancun this week with four tons of cocaine on board, officials said Thursday. One of the men listed as the registered owners of the plane, Joao […]
