Archive - Jun 2011 - Blog entry

The idea of turning the EU into a Bankster's Paradise (where you lose sovereignty to your creditors) slapped the Dollar down to it's lows of the day and boosted the EU markets and US futures and gave us our re-shorting opportunity on oil.

But "the little people are too small to help" ...

BP tries to blame shrimpers for all of the turtle deaths ...

Number 1 on the Banzai7 charts for one year and running...[Never before played on Zero Hedge]

The issue now is how far the Fed will let things collapse. When QE 1 ended in April 2010, stocks dived 15% before the Fed stepped in and began hinting at more QE. By today’s numbers this would mean the S&P 500 falling to 1,160 or so. However, given the extreme degree of danger in the world today (the European banking Crisis, the Middle East, China overheating and Japan’s nuclear disaster) there is plenty of room for surprises to the downside

Nobel Laureate Robert Mundell and his followers have made some noise of late about the need to achieve a fixed exchange rate between the dollar and the euro. About their desire for an exchange rate fix they're certainly correct, though they're wildly incorrect in suggesting that inflation and deflation can be cured if the U.S. Treasury simply ties the dollar to the euro.

Is a Chinese internet video company that's hemorrhaging cash really worth $4.6 BILLION?

All the more relevant today, now that Moody's has downgraded Wells Fargo and Citi on concerns that the Fed will withdraw bailout support.

We're getting fleeced, and the President hires the best fleecer out there as his adviser.

Get ready for the storm...

A conversation with the last surviving silver broker to the Hunt Brothers. An aggregate position was thought to exceed 100 million ounces. Several officials at the CFTC were rumored to be getting killed on their silver shorts. The Hunts’ only crime was to be right about the value of silver as an inflation hedge Commissions worth $14 million go up in smoke. (SLV).

S&P 500, Dow Jones, Nasdaq, Russell 2000, Nymex Crude Oil, Comex Gold, EURUSD, GBPUSD, USDJPY

Is it time to do away with 2&20?

As the great Yogi says: "It ain't over 'till it's over" but May is now officially over and it was, in fact, a down month, despite the TREMENDOUS effort that was made in the past week to keep it from being a 5% loss.

That's what makes oil trading so much fun - it's all based on factors that are out of our control and half a World away, so the speculators have dozens of tools available to them to manipulate the market.