Archive for the 'Economy' Category
Product Not Available: 2007 American Eagle Gold Uncirculated One Ounce Coin
September 14th, 2007HAHA! No gold today, please try again later. Via: U.S. Mint: Due to the increasing market value of gold, the American Eagle Gold Uncirculated Coins are temporarily unavailable while pricing for this option can be adjusted; therefore, no orders can be taken at this time. We expect products to be available with adjusted pricing on […]
Northern Rock Shares Crash as Customers Queue
September 14th, 2007UPDATE: Police Called to Disperse “Panicked Crowds” of Northern Rock Customers Trying to Withdraw Money – – – – – Remember that number I told you to watch for on gold? $721. It reached $718 today. Via: Telegraph: Thousands of panicked Northern Rock customers have rushed to withdraw millions of pounds out of their accounts, […]
Dollar’s Retreat Raises Fear of Collapse
September 14th, 2007Via: International Herald Tribune: Finance ministers and central bankers have long fretted that at some point, the rest of the world would lose its willingness to finance the United States’ proclivity to consume far more than it produces – and that a potentially disastrous free-fall in the dollar’s value would result. But for longer than […]
UK: Bank of England Provides Emergency Funding to Large Mortgage Company
September 14th, 2007Panic? Why would anyone panic? I mean, I always associate the phrase, “emergency financial support” with smooth sailing and total confidence. Who do these pricks think they’re kidding? Via: BBC: The Bank of England has agreed to give emergency financial support to the Northern Rock, one of the UK’s largest mortgage lenders, the BBC has […]
A Secret Time Bomb Made of Gold
September 13th, 2007Anyone who hangs out in gold bug backwaters / Pentecostal snake handling dens already knows this story. What’s different about it this time? Barron’s. No, friends, Barron’s isn’t usually where gold bugs go to catch drippings from the alter. Whether or not The Time is actually upon us, nobody knows. On a technical note, gold […]
U.S. Stock Market Index Values vs. Collapsing Dollar
September 13th, 2007IMPORTANT NOTE: If you think, “I’ll just buy Canadian dollars then,” you’re totally missing the point of this. The point is not to suggest one gamble over another, but to let you know the reality behind the high index numbers. Via: University of Michigan: Lupia, who also is a research professor at the Institute for […]
Oil $80
September 12th, 2007Think of $60 as the gateway to $40 on the downside and $80 as the gateway to $100 on the upside. There’s a bit of a perfect storm coming together here with very tight inventories and the collapsing dollar. Via: Yahoo: Oil futures prices rose sharply Wednesday, briefly climbing above a record $80 a barrel […]
The Coming Financial Crash: “Where Everyone in the House is Crazy Only the Sane Seem Like Fools”
September 12th, 2007Via: European Tribune: The unease, verging on panic, about sub-prime mortgages has given us a glimpse of what is ahead. But, let us be very clear, it has been only a glimpse. Sub-prime securitised mortgages are only a relatively tiny part of the huge credit and debt structure involved in what we may group under […]
MEXICO GAS LINE EXPLOSIONS FORCE MAJOR FACTORIES TO CLOSE DOWN
September 12th, 2007I can’t think of a time in history when the individual insurgent has had such an incredible asymmetric advantage over his opponent. Hierarchical dominator systems—now enjoying primacy on a global scale—exist atop a delicate grid of undefended energy and information infrastructures. With just a bit of intelligent planning, today’s insurgent can turn a small improvised […]
Treasury Gain May Falter; Foreign Holders Flee Dollar
September 11th, 2007WARNING: This is not a recommendation to buy sell or hold any financial instrument. There is going to be great pain here as older, wealthier people wake up to the fact that their “fixed income” class investments are wild ass, risk of ruin gambles. We’ve been through it over and over again: Shelter, water, food, […]
